AGM Budget outturn report 2024/25

CMM Began the year in September 2024 with £6,346 in the bank. The end of year balance as at 1st September 2025 was £6,766, an overall gain of £420.

The main factors which enabled this were:
1. A significant income generated by the summer concert at Garlinge Green
2. Whitstable Rotary donation to cover concert expenses of £320
3. HMRC tax reclaim for Gift Aid £115 above target
4. An increase in membership subscriptions over last year.

This positive outturn is also the more notable as we allocated and spent £937  on 
new percussion.
Significant underspends on the Website fees (£169), and Music Hire (£233) also contributed to the boost our funds.
Concert Expenses – Steve’s concert day fees and payment for additional players - appear overspent mainly owing to the cost of hiring Garlinge Green Theatre - £350. Without this hire charge this would have come in below target. The excess MD fee was a single payment which was overlooked at the end of last year.
Looking ahead, and as a result of the secure position we find ourselves in, there will be no increase in membership fees this year. Also instead of the percussion upgrade, it is proposed that the committee sets up a budget line for ‘Orchestra Development Initiatives’ to find ways of improving the players’ experience in the orchestra - this is proposed at £1,000.
Members should recognize the highly effective actions of Lucy M in cajoling everyone into to paying their fees, and also in doing battle with HMRC to obtain the tax relief.
Yvonne Setter has very kindly audited the accounts and has approved them with several very minor recommendations for next year plus acknowledgement that bottom line is 3p adrift – Sumup payment stole this but I will get it back!
 

David Ovenden
Treasurer