Treasurer's Report 2023

TREASURER’S REPORT
1st January to 31st December, 2023

This report was a powerpoint presentation for the 2024 AGM. This written report summarises the main points from that presentation.

From the start of 2023, Links, the charity which manages our financial affairs, informed IMC that they were having to increase their charges. This decision was made to ensure that Links remained in a viable financially.

As you will see from the expenditure list, Links is by far and away our largest cost. The trustees have explored alternative ways of managing IMC’s finances and I have been in discussion with Links, who are doing all they can to minimize our costs.

Frankly, there is no ‘quick fix’ to responsible financial management. There are rules and regulations that must be followed. Transparency is a key consideration. Links provides all the services and ‘cover’ required to ensure we are operating within the law.

Income
2021 £81,594
2022 £78,212
2023 £75,546

There has been a gradual decline in income over the last few years. I think much of this can be explained by the financial hardship caused by the pandemic and financial issues facing this country. Firms that used to support charitable giving by employees, for example, are not doing so to the same extent these days.

Thank you to all our loyal supporters who continue to donate by standing order or one-off donations. Your giving really does make a difference. The average amount that was transferred to Colombia during 2023 was just over £5,500 each month.

Expenditure
2021 £4,138
2022 £4,143
2023 £7,238

2023 Spending
Stamps £204
Printing £40
Website costs £75
Newsletters £210
Links administration costs £6,678

Charles Farr
Treasurer

Posted on the 4th June 2024 at 3:05pm.