Budget Plan 2023/2024

HARTINGTON VILLAGE HALL : Draft 1 BUDGET PLAN 2023/2024

Notes:

Our financial year is September – August.
Monies held in accounts as at 31/08/2023 : £13,260
+/-/= used to denote if roughly in line with plan in final column.

INCOME 2021/22 with budget forecast for 2022/3.

	2021/2 Actuals	2022/3 forecast	2022/3 Actuals	2023/4 Forecast
Local Hire	£6,955	£7,500	£10,423 +	£11,000
External Hire	£1,301	£3,000	£2,078 –	£2,500
TOTAL HIRE	£8,256	£10,500	£12,502 +	£13,500
Small Society Lottery	£5810	£5,560	£5,700 +	£5,650
Donations	£1225	£250	£1508 +	£300
Gift Aid	0	£100	£638 +	£50
Fund raising events	0	£2,500*	£2,140	£1000
Church contribution to broadband	£50	£50	£58 +	£58
Plant sales	0	£500*	–	£250
TOTAL FORECAST ADDITIONAL INCOME	£7,085	£8,960	£10,439	£7,308
TARGET FOR GRANT INCOME	£7,720	£15,000*	£7500 _	£13,100
TOTAL INCOME	£23,061	£34,460	£33,120 –	£33,908

EXPENDITURE forecast for 2022/3.

	Actual Sept 21-Aug 22	Actual Sept 22-Aug 23	Forecast Sept 23 – Aug 24
Inspections (Fire/PAT/Lighting)	£421	£1070 –	£800
Repairs & maintenance	£2,194	£1156 –	£2000
New heating system	£19,757	0	0
Asbestos removal	£3,252	0	0
Replacement windows in Upper Bakehouse	Installed June ’22.	£960	0
Roof / gable wall repairs		£5270	0
Electric	£587	£941	£2400
Oil	£1853	£1307	£1600
Insurance	£939	£1031	£1100
Refuse collection	£396	£482	£520
Lottery licence	£20	£20	£20
Lottery prizes	£1700	£1600	£1800
Music licence	£201	£139	£176
Accountancy fees	£150	£150	£200
Telephone/Broadband	£333	£359	£380
Cleaning materials	£145	£352	£350
First aid supplies	0	0	£20
Stationary/postage	0	0	£20
Miscellaneous	£300	£1098	£500
TOTAL Operational costs	£32,173	£16,084	£11,886
Toilet refurbishment estimate			£16,500
Total Costs		£40,930	£28,386

Forecast surplus for 2023/4 : £5,522

The above assumes a weekly operational hire income of £260 set against an operational weekly cost of £229 . The operational income only considers hire income.

In conclusion, the above budget plan is proposed with an anticipated surplus of £5,522. We carry forward £13,260 into 2023/4. The areas of greatest risk are:

Failure to secure grant income (negated as grant is confirmed)
Reduction in hire income as a consequence of rising charges (not in evidence at this point in time)
Unforeseen issues with toilet refurbishment
Unforeseen maintenance issues
Further escalation in energy costs

Keith Quine

Chair of Trustees

13/10/2023