MINEHEAD AND EXMOOR FESTIVAL SOCIETY

Treasurers’ Report for the 2006 Season

Period of report 1 January 2006 to 31 December 2006

 

  1. I am happy to report that the figures for the 2006 season are stable when compared with 2005.  Last time the loss was on the face of it £1,422.39 and this year the profit is £1,242.21.  This is not actually comparing like for like as, in the 2005 season, the figure shown is before we took up the ARTlife guarantee against loss (“GAL”) of £1,000 and, in 2006, the figure includes a grant from ARTlife of £750.  Adjusted to take these into account, 2005 would show a loss of £422.39 against the 2006 profit of £1,242.21.  We were please to have a grant this year (coupled with a £250 GAL, not in the event needed) rather than a larger GAL as this should help us, over a period, to plan more exciting programs.  ARTlife and our orchestra are keen that we should do this.  That said, much 20th century music is still in copyright and the additional cost of performing such works can be considerable both in Performing Right Society fees (“PRS”) and music hire.  This would include works by the likes of Stravinsky, Poulenc, Britten, Shostakovich and Richard Strauss, none of whom are adventurous by today’s standards.
  2. Analysis of the income for 2006 is as follows:
    1. Ticket income was slightly up, reflecting the price increase.  Overall ticket sales were slightly down by some 40 seats.
    2. Programme sales were a little down, possibly because of the slightly lower ticket sales.
    3. Gift Aid donations (and the tax recovered) were up by over 40%.  This is very pleasing.  We did try this season to stress the importance of this income if the Festival is to prosper.
    4. Local Authority grants stayed the same.
    5. ARTlife’s grant has been mentioned above.  Thank you ARTlife for your support.
    6. Graham Sizer (Minehead Radio) remained our most generous sponsor being joined again by Western Power, Amherst and Shapland and Thorne Segar (formerly Thorne and Thorne).  A new sponsor for 2006 was Chanin and Thomas.
    7. Overall, income was up by £1,582.13.  This includes the ARTlife £750 grant and new sponsorship.
  3. Expenditure:
    1. Richard Dickins’ fee was increased slightly.  It remains very modest given the time and expertise he puts into each Festival.  Our thanks go to him for his generosity.
    2. Soloist fees were up by a modest £100.  Although we had more soloists in 2006, those for Saturday’s concert came from the orchestra which involved less cost.  We are lucky to have section principals of such top quality.
    3. The overall orchestra expenses were down by £1,210 but this chiefly reflects the fact that we did not hire a piano which, in 2005, cost us £1,280.
    4. Music hire and PRS were up again.  As mentioned above, this is likely to rise further (by more than £1,000) if our programmes include more 20th century music.
    5. Venue hire costs were contained.
    6. Overall expenditure was about £1,000 less than 2005 reflecting the lack of piano hire costs.
  4. At the end of the season we had £2,058.86 in the bank.
  5. I propose that the next meeting should consider a further small increase in ticket prices.  If we leave them the same, we can anticipate a loss in 2007.  Ticket prices remain excellent value for money.
  6. I invite the meeting to adopt these accounts.

 

Crispin Hodges

Treasurer           10 January 2007