Balances correct at close of business April 30th 2015
|Branch Rebate||£9,605.19||Computer Eqpmnt||£1,329.83|
|+ Opening Balance||£42,880.34||Stationery/Printing||£379.85|
As you can see under Other Income, the Branch received just over £49,000 last month. The payment came from CWU HQ who had received and accepted an offer from their insurers to cover the full amount less £5,500 which had been stolen from our accounts. This should now bring an end to the whole sorry episode.
The payment and the subsequent increase in our bank balance does bring about potential issues with future rebates. National rules dictate that any Branch with over 12 months worth of rebate in its accounts will not receive any further rebates until such time that their balance falls below the 12 month figure. Our total rebate for 2014 was approximately £86,500. However, we did receive a rebate at the end of April, as noted above. I will keep you updated on any developments with future Branch rebates.
Taking away the £49,000 payment, the Branch still returned a surplus of almost £2,700 for April.
Most of the expenses above are self-explanatory. The exceptions being;
Venue Hire £60.00. This paid for the hire of The Comrades Club in Godmanchester for a Reps meeting.
Donation £200.00. This was paid to the union’s own national charity CWUHA, to assist in a forthcoming convoy to Moldova. More details can be found at www.cwu.org/cwu-humanitarian-aid.html
Affiliations of £300.00 were broken down as follows – £50.00 to the National Pensioners Council and £250.00 to the Peterborough Trades Council. These are annual affiliations.
Finally, the Other Expenses included £334.80 for USB sticks for every Rep, £146.91 paid into the Branch Benevolent Fund, £20.00 for a Railcard for use by the Retired Members Chairman and £90.00 which paid for a fraternal greeting in the May Day edition of The Socialist newspaper commemorating International Workers Day. A copy of which is available in the Branch Office.
As always, please do not hesitate to contact me if you have any questions on where your money goes or any other queries over Branch finances.