Budget Plan 2023/2024 mid year review

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

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

	2021/2 Actuals	2022/3 forecast	2022/3 Actuals	2023/4 Forecast	Sept 2023 – Feb 2024 actuals
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	£7530 (56%)
Small Society Lottery	£5810	£5,560	£5,700 +	£5,650	£2625 (but 2023/4 overall at £5950)
Donations	£1225	£250	£1508 +	£300	£132 (44%)
Gift Aid	0	£100	£638 +	£50	£25 (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	£2782 (38%)
TARGET FOR GRANT INCOME	£7,720	£15,000*	£7500 _	£13,100	£13,683 (105%)
TOTAL INCOME	£23,061	£34,460	£33,120 –	£33,908	£26,777 (79%)

EXPENDITURE forecast for 2022/3.

	Actual Sept 21-Aug 22	Actual Sept 22-Aug 23	Forecast Sept 23 – Aug 24	Actuals Sept 2023-Feb 2024
Inspections (Fire/PAT/Lighting)	£421	£1070 –	£800	£402 (50%)
Repairs & maintenance	£2,194	£1156 –	£2000	£1420 (71%)
New heating system	£19,757	0	0	0
Asbestos removal	£3,252	0	0	0
Replacement windows in Upper Bakehouse	Installed June ’22.	£960	0	0
Roof / gable wall repairs		£5270	0	0
Electric	£587	£941	£2400	£1242 (52%)
Oil	£1853	£1307	£1600	£ 787 (49%)
Insurance	£939	£1031	£1100	£1064 (97%)
Refuse collection	£396	£482	£520	£247 (48%)
Lottery licence	£20	£20	£20	£20 (100%)
Lottery prizes	£1700	£1600	£1800	£1000 ( 56%)
Music licence	£201	£139	£176	£176 (100%)
Accountancy fees	£150	£150	£200
Telephone/Broadband	£333	£359	£380	£176 (46%)
Cleaning materials	£145	£352	£350	£70 (20%)
First aid supplies	0	0	£20
Stationary/postage	0	0	£20
Miscellaneous	£300	£1098	£500	£365 (73%)
Events				£554 (100%)
TOTAL Operational costs	£32,173	£16,084	£11,886	£7523 (63%)
Toilet refurbishment estimate			£16,500	£18,378 (111%)
Total Costs		£40,930	£28,386	£25901 (91%)

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 was proposed with an anticipated surplus of £5,522 and at the mid point of the year it looks like this should broadly be the case. However two maintenance priorities look to deserve to be brought forward:

Replacing the rear doors given deterioration over time and the wet winter. Cost £3,100
Replacing the lights in toilets, corridor, foyer and Lower Bakehouse. Anticipated cost c£1500.

As at 01/03/2024 we hold £11,072 in our Nat West account.

I therefore propose that both maintenance issues should be actioned.

Keith Quine

Chair of Trustees

04/03/2024