Treasurer’s Report 2020/21
The reason I am delivering this report today, rather than our Treasurer David Reeves, is because, as many of you know, he has been very ill. I am pleased to say that he is out of hospital now and on the mend, but he is still not well. As a result, I have had to work closely with Martin Fenn-Smith, who set up most of our financial back-office systems, and David Shoubridge, our Independent Examiner, and I want to thank them both for their very hard work over the past two weeks. Without it, we would not have these accounts to put before you. We squeaked over the finish line on Friday, however, and here they are.
Income and expenditure are both up considerably on last year, because we began holding monthly concerts again and because of the grant and donations income for our two community engagement programmes. Wye Valley Music in Mind hit the ground running in its first year, with £9,090 in grant monies alone. This boosted Wye Valley Music’s total income to ca£31,120, its highest level ever. In terms of income minus expenditure for each programme, the core concert programme made a small surplus of ca. £4,467, Wye Valley Music in Schools broke even and Wye Valley Music in Mind had a surplus of ca. £4,734 largely because it raised much of its money early in the 2022 calendar year while expenditures continued in the second half of 2022, which is the following fiscal year for Wye Valley Music.
Total income for 2021/22 was ca £31,120 while total expenditure was ca £22,116, so our surplus was £9,004. In 2020/21, by contrast, total income was £10,032, while total expenditure for was £5,100, leaving WVM with a surplus of £4,932 for the year. Available cash at the end of July this year was £21,242 while cash assets stood at £23,955.