Financial Report

Financial Report

This is my first report in writing to the meeting, as I am no longer a delegate for my sub-association, it is important to be able to record information to the meeting.

This last year has been a financial drain on the association’s funds with a deficit of $5,321.83 this has come from the reserves of the association. Many factors have caused this turn around, from having a surplus of $2,287.85 the previous season.

Each year the association upon receipt of the sub-committee’s supplying a set of annual accounts we pay each section a pro-rata amount of $10.00 per competitor. This last year that was a total of $1,160.00 or 116 competitors leaving 159 axemen of the 275 registered competitors, at $10.00 to be spent on seniors or any other teams that there is no sub-committee to handle.
At present we only have the senior’s team, as there is no B. team.

On the same basis as we expect these sub-sections to run their committees we have $1,590.00 to spend, this is broken down as follows:

We staged a very successful set of trials last season $848.00 was paid to the host club. This is for trial blocks thanks to the club who met all other costs related to those trials. This leaves us with a balance of $742.00 to purchase uniforms for 8 team members and one Manager, however $1,197.75 and a further $300 odd which was sponsored was spent on this team. That is $7.53 per registered senior, for 9 people, we overspent our budget, because those who choose purchase more than what NZAA has had a policy set to purchase for team clothing in past, in 2011 we spent $660.00 on 7 members.
This takes care of the $10.00 of the current $25.00 received. Now for the rest of the $15.00 per head which is spent on administration, for the entire sport.

At the last annual general meeting it was requested that we increase our insurance coverage of public liability, from $2 million to $5 million coverage. The policy documents in the past have been forwarded to the sub-association secretaries, it appears that this is not been forwarded down the line. In simple terms our chopping meetings and axemen are covered for public liability coverage not vehicles, not personal accidents to competitors’ but it does cover public. We are covered as long as the competitors are fully registered prior to the event and the clubs are fully affiliated prior to the event. Last year we had one claim against the policy by a club, it involved a tractor which is not classified as a vehicle and this claim has been paid out and the club only had to pay the excess on the policy. I have been advised like many other insurance policies that there will be an increase only slightly of about 10% which is about $200.00 for this coming period.

The policy last year increased in coverage, our expenditure also increased by nearly $1000.00. Based on the 2011-12 season of 275 axemen which is the figure that I can work this out on we spend $7.95 per competitor on insurance. The figure for the North Island Associations this year total 154 a reduction of 3 competitors, Southern figures are not available at the time of writing this report.
Standard fees are Sec Honorarium $1,000.00 or $3.63 per axemen. Auditor $1.67 Airfares for Southern to attend the meeting $2.47 AGM expenses $1.83 and this year we have had to book an extra room, as the meeting is expected to take longer and this will cause a larger account than has been paid in recent years. Many of the delegates, Nania and Northland have travelled home at the end of the meeting and none of the North Island delegates have requested travel assistance to attend, this is to save money for the association. Travel costs are either paid by themselves or reimbursed by their own sub-associations.
Many other costs have not been formulated into this report stationery, tolls; charities commission fees, or the lawyer’s fees which we incurred this last season. Without taking these into consideration we have already overspent the $15.00 taken as income by $2.55 per registered competitor.

I foresee that there are two courses available to you, one is to increase the rate we collect from competitors and two to increase our numbers of actual competitors. (Numbers on seats) If our sub-committees wish more support then their only option really is for those sections to increase numbers in their own sections, promote more juniors, Women and Veterans. Any increases in pro-rata money will effect what is spent by NZAA on the seniors, it is my suggestion that the seniors look at ways of promoting the sport, and it is up to every other club, centre and sub-association to do the same.

The amount of increase in the affiliation fee is the next matter of concern, when considering this we need to take into account where that money can best promote the sport and thereby increase our numbers benefiting all and to cover our current associated costs. If not any reserves we have will be zero inside three years. It is quite a sobering thought.