MINEHEAD AND EXMOOR FESTIVAL SOCIETY

Treasurers’ Report for the 2005 Season

Period of report 1 January 2005 to 31 December 2005

1. The 2005 Season, whilst artistically exciting, was financially disappointing. This time last year I was reporting a modest profit of £50 but in 2005 we show a loss of about £1,500.
2. Analysis of the income is as follows:
1. Ticket sales were static despite the price increase. This was mainly due to poor sales for the Thursday Concert at the Regal
2. Programme sales were up 73% as a result of the price increase.
3. Despite efforts Gift Aid donations (and the tax recovered) were down a little but nothing to worry about.
4. Local Authority grants stayed the same.
5. Without ARTlife’s help we would have ended up in the red this year. Thank you ARTlife for your support.
6. Graham Sizer and Minehead Radio remain our most generous sponsors being joined this year by Western Power, Amherst and Shapland and Thorne and Thorne.
7. Overall, income was up by £767 but this was not enough to cope with the dramatic increase in expenditure.
3. Expenditure:
1. Richard Dickins’ fee stayed the same.
2. Soloists fees were up by a modest £335 but the quality of the soloists was well worth it.
3. Orchestra expenses show a modest increase of 3.5%. Of these, catering costs were up but not unreasonably.
4. Music Hire and PRS were dramatically up. We need to have this in mind when choosing the programme for 2006.
5. Venue hire costs were contained.
6. Piano hire was more expensive than budgeted and this is one of the main causes of our loss. No piano in 2006 please!
7. Overall expenditure was £2334 more than last Season.
4. At the end of the season we had £430.66 in the bank with a further £292.68 to come in Gift Aid repayments.
5. I propose that the next meeting should consider a further small increase in ticket prices. They remain cheap for what the audience gets.
6. I invite the meeting to adopt these accounts.

Crispin Hodges

Treasurer 18 January 2006