Plan 2011 - Erith Yacht Club Home Page

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					Notes to Financial Plan 2011
Erith Yacht Club has been really quite successful in 2010. The club house is now finished
and we have occupied it since the end of May. Over the course of 2010 we have grown the
membership substantially.

Revenues from membership have clearly risen significantly and are assumed to increase
further in 2011. It is suggested that increases in Fees for 2011 be limited to inflation plus the
known increase in VAT. A separate page has been included detailing the proposed fee
structure and the revenue anticipated.

The Folgefonn bar was closed for a number of weeks before the Clubhouse bar opened at
the end of May. Bar prices have been maintained at the previous level but we have seen
revenues increase significantly from higher sales volume and keenly negotiated supply
prices. Total contribution to General Funds for 2010 is likely to be at least similar to prior
year, fully overcoming the effect of the period of closure. The assumption for 2011 is that the
increased volume of sales will continue, although a conservative estimate has been used in
the Financial Plan following discussion with Wine Committee Chair.

Catering has generated significant revenues in 2010, however largely from the free time
provided by volunteers. In the absence of a clear action plan for 2011 it has been assumed
that this revenue will not continue and a token amount shown in the Financial Plan

Training was provided with funding of £3000 from General Funds in 2010 but has been
otherwise self funding from courses run plus first year donations from our funders. It is
possible that Training may have a funding surplus by year end 2010 and be able to repay
the General Fund, although this has not been assumed in the main cashflow analysis. For
the 2011 Financial Plan it has been assumed that Training will be self funding and be able
to contribute £3000 to General Funds. By the end of 2011 we do need to see a revenue
generation run-rate that will cover all costs in 2012, including salary, without funding.

There is a known issue around the PLA charges relating to the cost of the pontoon. For the
Financial Plan we have conservatively assumed no traction in discussions with the PLA.

Other issues exist around cost relating to consumption of electricity, cesspit emptying and
cleaning. Larger estimates of 2011 cost have been included to the Financial Plan than in
the original Business Plan although efforts to manage these costs will continue.

Contracts for equipment maintenance have not been completed and signed, however a
significant allowance has been made for these likely expenses.

Overheads for the club have risen significantly but the increased membership has enabled
distribution of these costs across the wider roster.

The attached papers reflect a fully funded Financial Plan for 2011 but assume zero transfer
to Reserves. Any revenue generated or expense saving beyond the conservative estimates
assumed will be taken to Reserves
                                                    EYC - Suggested Fee structure for 2011
                                                                                                        Income               Income       New     New
                                                                                     Members
           CATEGORY                  2009       2010      % Inc    2011      % Inc           Mooring    2011 No                2011     Members Income
                                                                                      Sep10
                                                                                                       Increase               +5.5%       2011    2011

 Full Membership                    £ 151.00   £ 168.00 11.3%     £ 177.00   5.4%      98              £ 16,464              £ 17,346     12   £ 2,124
 Family Membership                  £ 226.50   £ 255.00 12.6%     £ 269.00   5.5%      29              £ 7,395               £ 7,801      4    £ 1,076
 Up-River Membership                £ 30.00    £ 33.00 10.0%      £ 34.00    3.0%      38              £ 1,254               £ 1,292
 Youth Membership                    Free       Free               Free                108
 Initial Joining Fee                £ 50.00    £ 65.00 30.0%      £ 68.00    4.6%                                                         16   £ 1,088
 Contingency Fund                   £ 25.00    £ 28.00 12.0%      £ 29.00    3.6%      127             £ 3,556               £ 3,683      16   £   464
 Gift Aid (at Members discretion)     £?         £?                 £?
                                                                                                       £ 28,669 Membership £ 30,122            £ 4,752
 Moorings – Cruiser                 £ 366.00   £ 380.00   3.8%    £ 400.00   5.3%              71      £ 26,980              £ 28,400
 Moorings - Dinghy                  £ 97.00    £ 105.00   8.2%    £ 110.00   4.8%              27      £ 2,835               £ 2,970
 Unused Trailer                     £ 150.00   £ 160.00   6.7%    £ 168.00   5.0%
 Initial Mooring Fee (Cruiser)                 £ 175.00           £ 184.00   5.1%
 Initial Mooring Fee (Dinghy)        Free       Free               Free
                                                                                                       £ 29,815   Moorings   £ 31,370          £   -
 Family Member                                                                         29                                                  4
 Community Member                                                                      15
 Temporary Member                                                                      147
 Life Member                                                                           10
 Honorary Member                                                                       10
 Total Membership                                                                      484             £ 58,484    Total     £ 61,492     20   £ 4,752


Notes :
 > Other than inflation and VAT there are no increases in fees
 > Increase in fees is inflation 3% plus 2.5% VAT rise due January 2011
 > Financial Plan for 2011 is fully funded but assumes zero transfer to Reserves
 > Higher number of members in 2010/11 permits wider distribution of running costs
 > Financial plan assumes an increase in 2011 of 16 full members over September 2010
 > Any revenue generated beyond the conservative estimates assumed will be taken to Reserves
            Cash Flow Analysis - 2010 - September Actual
                                                     FYR       2011        2011
                                                                        Financial
Bank - Brought Forward                                 6495               Plan :
                                                                         forecast
Cash Inflow                                                              numbers
 Membership                                           27546    34874   represent a
 Moorings                                             30054    31370   conservative
 Grants                                               20000        0     first cut
 Children's & Social T/F In / Bar Contribution         8989    10000    based on
 Barclays T/F to Reserve / Folgefonn / Scrap Metal     8567        0   current run-
 Catering - Contribution                               3846     1500     rate and
 Lettings - Contribution                                150     1000   have not yet
 Sailing - Travellers / Sundowners                     1018     3338    been fully
 Training - Contribution                                        3000    vetted by
 Diesel Sales                                           757     1000        the
 Petty Cash - Small Inflows                             451      820   committees
                                                                       responsible
Cash Inflow - Subtotal                               101379    86902


Cash Outflow                                                            Explain
 PLA                                                  31965    34256    Yr 2011
 Insurance                                            12673    11948    Shortfall
 Bexley London Borough                                 3591     4267
 EDF Energy                                            6730     4800   Cleaners
 MTS Cesspit                                           3376     5064          5980
 Thames Water                                           928      720   Pontoon
 Buen Limited                                           288      306          4915
 Calor Gas / LPG (Estimate)                            1078     1148
 Fuel Oils / Fuel for Resale                           1309     1309         10895
 BT                                                     188      780
 Royal Mail                                             315      780
 BOC Manchester                                         225      240    Explain
 BLB Euro Bins                                         1061     1150    Yr 2010
 Moorings                                              2678     2701    Shortfall
 RYA / Offcom                                           602      641
 Boats Purchased                                      24210        0          4000
 Training - Funding                                    3000        0          3000
 Grand Opening                                         1027        0          1027
 Refund from Neilcott                                 (4500)       0
 Equipment                                             2618      634          1984
 Maintenance (inc. Contracts)                           246     2246         10011
 Printing                                              1191     1200
 Trophies                                               311      311        Note :
 Security                                               731      731    Increase in
 Advertising / Dartford Fest.                           564     1800         2011
 Audit / Legal / Honoraria                             1831      700      expense
 Cleaners                                              3550     5980       reflects
 Petty Cash - small items                              6275     2524     inflation of
                                                                       3% and VAT
Cash Outflow - Subtotal                              108060    86235   rise of 2.5%

Bank - Carried Forward                                 (186)     667
                                      Budget        2010         2011                                              Budget        2010         2011
                                    Allocations    Actual /    Suggested                                         Allocations    Actual /    Suggested
                                    for Year 1    Projected     Budget                                           for Year 1    Projected     Budget

GENERAL INCOME AND ADMINISTRATION
 Full Membership Fees               £14,448         £18,083      £19,470   Contribution to House                     £14,363     £22,900      £34,315
 Family Membership Fees              £6,885          £6,120       £8,877   Advertising Printing & Promotions         £10,974      £1,755       £3,000
 Up River Membership Fees              £990          £1,188       £1,292   Insurance                                 £10,733     £12,673      £11,948
 Youth Membership Fees                   £0              £0           £0   Admin & ICT                                £1,500        £988       £1,006
 Joining Fees                        £1,300            £845       £1,088   Postage                                      £750        £315         £780
 Contingency donations               £3,583          £1,310       £4,147   Licences and Affiliations                    £500        £602         £641
 PLA Refunds                         £1,175                                Legal                                                  £1,131
 Trailer Cradle Fees                                   £160                Grand Opening + Bequests Spent                         £3,011
 Other Misc income                   £2,000         £11,877         £220   Other Misc Expense                                     £6,052       £2,224
 Sponsorship                         £1,000
 Grant income                        £3,000         £20,000                Boats purchased                                       £24,210
 Contribution from Bar and Catering  £8,000          £9,846      £11,500
 Contribution from Moorings          £5,125            -£87       £1,660
 Contribution from Training          £2,829         -£3,000       £3,000
 Contribution from Sailing           £2,310            £708       £3,028
 Contribution from Clothing            £300            -£93         £300   Surplus income over Expenditure C/F       £14,125      -£6,681        £667

                                        £52,945     £66,957      £54,582                                             £52,945     £66,957      £54,582
 Balance B/F                            £14,125     -£6,681         £667   To Annual Maintenance Reserve             £12,500
                                                                           Net Revenue / (Expense) Position           £1,625      -£6,681        £667
                                        £14,125      -£6,681        £667                                             £14,125      -£6,681        £667


HOUSE
 Contribution from General              £14,363     £22,900      £34,315   Gas & Electricity                          £5,000      £7,808       £5,948
 Hire of Facility                        £6,051        £150       £1,000   PLA Fees - Causeway/ Slip/ Pontoon         £4,514      £4,662       £7,247
 Diesel Sales                            £1,000        £757       £1,000   Water & Sewerage                           £2,500      £4,304       £5,784
                                                                           Rates                                      £2,200      £3,591       £4,267
 Refund from Neilcott                                £4,500                Diesel Purchases                           £1,750      £1,309       £1,309
                                                                           Safety Security & Testing                  £1,500        £731         £731
                                                                           Misc Supplies                              £1,000        £225         £240
                                                                           Telephones                                   £750        £188         £780
                                                                           Refuse Collections                           £700      £1,061       £1,150
                                                                           Furniture & Equipment                        £500        £634         £634
                                                                           Club ship repairs / Maintenance              £500        £246       £2,246
                                                                           Cleaning                                     £500      £3,550       £5,980
                                        £21,414     £28,308      £36,315                                             £21,414     £28,308      £36,315


TRAINING
 Training Course Fees                   £23,845                   £3,000   Salary & On Costs                         £38,845
 CIF Grants Equipment costs             £19,000                            Sailability boat purchase                 £19,918
 RYA & SE Employment contribution       £15,000                            Resources & Diesel                         £2,898      £3,000
 CIF Grants Cash                         £6,000                            Training Dinghy Mooring Fees                 £945
 Schools                                 £1,590                            Contribution to General                    £2,829      -£3,000      £3,000
                                        £65,435          £0       £3,000                                             £65,435           £0      £3,000


MOORINGS
 Sailing Dinghy Mooring Fees             £2,625      £2,826       £2,970   PLA Moorings charge                       £26,565     £27,303      £27,009
 Deep Water Mooring Fees                £28,120     £27,068      £28,400   Mooring Maintenance Cost                               £2,678       £2,701
 Training Dinghy Mooring Fees              £945                            Contribution to General                    £5,125        -£87       £1,660
                                        £31,690     £29,894      £31,370                                             £31,690     £29,894      £31,370


BAR & CATERING
 Bar receipts                           £16,000     £15,000      £25,000   Bar Purchases                             £12,000      £9,000      £15,000
 Catering Receipts                      £12,000     £11,538       £4,500   Catering Purchases                         £8,000      £7,692       £3,000
                                                                           Contribution to General                    £8,000      £9,846      £11,500
                                        £28,000     £26,538      £29,500                                             £28,000     £26,538      £29,500


SAILING & EVENTS
 Sailing Programme and Event Fees        £3,310      £1,018       £3,338   Sailing & Event Costs                      £1,000        £311         £311
                                                                           Contribution to General                    £2,310        £708       £3,028
                                         £3,310      £1,018       £3,338                                              £3,310      £1,018       £3,338


CLOTHING & REGALIA
 Clothing Sales                            £600        £131         £600   Clothing Purchases                           £300        £223         £300
                                                                           Contribution to General                      £300        -£93         £300
                                           £600        £131         £600                                                £600        £131         £600

				
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