Philip Wright FCA our Club Treasurer - retired in February 2020 - the role is vacant
2020 - The role of Treasurer is being carried out by a Finance and General Purposes Committee supported by an independent firm of Chartered Accountants.
Encouraged by our Constituent Sections, our Chartered Accountants have recently reviewed our Accounts and Accounting for 2018 and 2019, this will be available in due course.
Much improved Grounds Income, with the Hornsby House Lease and the new Artificial Pitch, our Grounds Income has been transformed. This transformation will take a little while to impact the club finances as the previous few years were very lean. Our funds have been much depleted by poor control over the bar finances in 2018/19 will not continue in 2020.
2018 Accounts for BISC
As many will be aware we had a tricky period with the club house in 2018, a false start and this had a negative impact on the House numbers. 2019 was not much better.
Our financial objectives set by the Management Committee of BISC are:
1. For our AGP we have to build a reserve fund to replace the carpet and surface every 7-10 years, we will reserve £10,000 per annum to that purpose starting in 2018. This is a contractual commitment.
2. To build a reserve and contingency fund aiming for a Contingency Reserve fund of at least £50,000 we hope to do this at a rate of £10,000 per annum .
3. We also need to work out a repayment plan for the Rugby Club Loan as soon as our finances have settled after the big change.
4. We pay back our interest free HHS AGP Loan as an offset against rent payable on the lease.
5. When we have succeeded in getting these sensible conservative objectives under control, we will embark on our ambitious project list, see Property