TRAVEL GROUP TREASURER’S
AUDIT REPORT FOR 2018
In 2018 the Travel Group continued to be as popular as ever with the membership. It has always been the Groups main aim to provide a wide variety of Trips at a cost, which appeals to the widest possible audience within our membership.
- The accounts record the Income and Expenditure for each Trip. The records for each Trip have been audited and confirmed as correct.
- As is usual, this year the Trips realised more income than expenditure. This is because the Trip cost is based on forecasted take up of the Trip, whereas in practice the take up has been higher than the forecast. Great care is taken with the initial costing of each individual trip to obtain a breakeven figure or a little over to cover stationery and other expenditure. Very occasionally, of course, a trip makes a loss but this is covered by the working capital of the Travel Group.
- At the end of the 2018 the total funds held in the Travel Bank Account and the Petty Cash Account was €2,673.77 less €175.29 which was lent to the Galicia Trip on account of payment for flights. Therefore, €2,467.54 is the working capital of the Travel Group accumulated for this year, which surprisingly enough is €31.24 more than at the beginning of the year. This shows that our method of balancing the cost of running trips and running the Travel Group, including researching new trips is working correctly.
- Working capital at the end of 2017 was €2,467.54. This figure rose in 2018 by approximately €31 and in 2017 by approximately €34 which means the Travel Group has maintained a consistently healthy balance against unexpected expenditure in future.
- The Travel Groups planned budget for this year includes the costs of running the Travel Group and the majority of these costs are those incurred in providing printing material for Trips. The budget also includes keeping a healthy balance in the account to ensure that we have funds in case of emergencies which may occur on any of the Trips. We have experienced several emergencies on Trips so the Travel Group is well aware of the necessity of ensuring such funds are available.
- Finally, I would like to thank Ian Brown for Auditing the Travel Group Account.
| Carol Mantle | |
| Travel Group Treasurer | |
| March 2019 |