As result of the impact of Covid-19 on national finances, the second instalment of the Membership was not paid.
The original Grant was - £5753.91
The Area received the first instalment on 17/02/20:
comprising 50% of the grant - £2876.95
Less Regional Payment - £77.30
Net Grant received 2020 = £2799.65
The Net Grant in 2019 was - £5762.48
Reduction in income 2020 - £2962.83
The Treasurer reported that because of Lockdown she had received considerably fewer Cash Back claims than normal, but we had insufficient funds to pay some claims received very late in the year.
These claims have been shown as Liabilities in the accounts and they will be paid as soon as funds are received. We informed Finance of the situation and requested payment of the first instalment of 2021 Membership Grant as soon as possible.
On the subject of the 2021 Grant I can inform you that the Grant is £3452.64 which means that our budget is considerably less than normal. As a result of this both Chairman and Treasurer reluctantly
decided that the Area could not sustain the current level for £50 Cash Back claims in 2021. Hopefully in 2021 the Covid-19 situation will improve and there will be an increase in Cash Back claims. To be properly prepared for this and be fair to all our members, we need to reduce the amount payable fro £50 to £25.
22 January 2021