Treasurer’s AGM Report 2025.

This year we had an unexpectedly high R&M expenses as we had a Hot Water cylinder fail and need replacing.  The Heat Pump became very inefficient due to depletion of refrigerant causing the Main Room to be uncomfortably cold.  This led (before we realised what the trouble was) to the installation of 2 radiant heaters and installing insulation in the walls and under the floor followed by a re-painting of the spots on the walls.  During a winter week-end, all-day, event that used most rooms of the Centre we experienced an electrical overload triggering a power cut and thus an electrician call-out to sort out the problem.  Since then the Heat Pump has been fixed and is working well; the Main Room is well insulated and should be warm even on blustery winter days, without needing so much heating.  A planned maintenance event was the painting of the street fence which was looking very shabby.  Financially we were fortunate that we made a surplus last year that was put into an interest-bearing Reserve Fund when interest rates were high.  This was able to cover the unexpected costs.

When the building Insurance became due we decided to have a good review because replacement building cost have been rising strongly recently.  We had a professional valuation and renegotiated our insurance for a modest increase in premium.

We are very pleased with the weekly cleaning and gardening work by Cecile and Jenny.

Electrical power and City Rates always go up.

Income was also greater than budgeted by about 7%.  We count on our membership list 112 people whom we approach with a request for an annual Financial contribution. 
22 people pay with regular (mainly monthly) automatic payments.  I approached all other members with a series of 4 requests.  74 people responded with a single annual contribution.  30 people pay more, sometimes considerably more, than the requested $90, whereas 17 people pay less.  But that also leaves another 17 people that did not respond in any way to the requests (which were sent by email).

This highlights a problem.  We used to have membership lists that had residential address, and landline phone.  This metamorphosed into a list with name, email address and often a mobile phone.  When people do not respond to an email, we do not know if they have migrated, died, lost interest, or simply changed their email address without informing us – easy enough to do.  Our website tracking system tells us that many emails are never opened – we don’t know why – computers have not evolved that far yet.  So basically, these emails could be disappearing into (and polluting) cyberspace.  In the new year I plan to investigate further and remove those emails that are always unresponsive.  I guess that everyone sitting here is not in that category, as you are sitting here.  How do people feel we should deal with this situation.  We can discuss this in the General Business section of the meeting.

The following is a picture of our Financial Activity for the last year:

The following gives a picture of our Financial Position as far as bank accounts are concerned as assets.  There are also the real assets of the property 500 Nelson Street North with the two conjoined buildings (Land Value $550,000, Improvements $150,000 as at Aug 2022) and their chattels, equipment and Library books.

• I ask that the Meeting accepts this Financial Report.

Robin Bacchus

Budget for 1 April 2025 to 31 March 2026

One thing that has been missing from past budgets has been any allocation for Events and Visiting Speakers in case of travel, accommodation and speaker’s fees.  Inclusion in the budget highlights an intention to act.  Without it we are very restricted in what we can do.  So I am suggesting an allowance of $5,000 for Events and an associated increase in door takings.

• I ask that the Meeting adopts this Budget for the coming year.

Robin Bacchus