This statement from our Treasurer, Gill Donkin, concerns the correction of the 2024-25 Annual Accounts presented at the AGM in May and previously shown on this website.
I met with Julie Hillman and her insight into the accounts was greatly appreciated. She did realise what a complicated and unconnected system we use.
We got together to identify and correct the anomalies in the earlier Treasurers report. These proved to be simple formulae errors and inconsistency in year end cut off date for some transactions.
We have a healthy financial position and it was great for members to enjoy a couple of terms of group fee holiday in this current year.
Julie states "I have inspected the records and am fully satisfied that they are a complete and accurate record of the year's affairs."
Our Chair, David Newick, adds:
“We have posted the corrected summary 2024-25 and this report on the website under Documents. We welcome any questions about it, either in person at one of our upcoming events or via the Contact Us page on our website.
The committee agreed that arranging a short EGM just to approve this would be difficult to arrange in the next few months with a required 12% quorum. I checked with our Regional rep and a national u3a Finance subject expert, and an EGM is not essential to continue our business.
We will request a formal sign-off at the next AGM in May 2027, allowing time for all questions and concerns to be addressed.
The committee thanks Gill and Julie for their quick, but also diligent and thorough, investigation/correction/double checking annual balances.”