TREASURER’S REPORT TO THE FREEMEN OF OXFORD

Year to 31st December 2024

Author: Simon Gibbs 

I enclose a copy of the accounts of the Oxford Freemen for the year.

On the income side, our grazing permits remained fully let in 2024, and we also receive income from the Oxford Anglers for the right to fish from the banks of the Meadow. The Oxford Model Flying Club also donate for the right to use the Meadow for their activities.

Bank Account Interest has almost doubled, partly due to increased interest rates but also because I transferred £10k from current to deposit account at the beginning of the year. We are already aware that interest rates are likely to fall this year.

Donations have more than doubled but due to two sizeable donations received from individual Freemen, for which we are most grateful.

Freemen's 2024 Draft Accounts.pdf

On the expenditure side, costs of the Journal have risen significantly principally because the issues in 2024 were much bigger. Two 17 page issues in 2023 but 28 and 30 page issues in 2024.

The Annual Dinner moved to Vincent’s Club, with help from Freeman and Club member, Stephen Eeley, to whom we are most grateful. Attendance was greatly increased due to the attraction of the venue and the move back to the City Centre. Consequently, the cost to the Freemen was just £40.

There was no apprentice award in the year and it is unlikely that there will be further ceremonies as interest has not recovered after the coronavirus lockdown and local enterprise partnerships now promote this type of scheme.

However, a Common Hall was held for the first time for many years and we provided a cheese and wine reception. It is disappointing that only 14 Freemen attended. At that meeting, I reported that some years ago, the Committee had decided that the Pension Fund would be available for other modest welfare purposes – possibly to attend the annual dinner which a Freeman may otherwise not afford. Despite advertising the funds existence in a previous annual report, no claim has been made. Any such claim would be held in complete confidence.

The annual Inspection took place in June followed by the traditional aunt sally match at the Plough, Wolvercote. We are again indebted to Greene King, the pub’s suppliers who continue to kindly provide the beer and, thus, allow us to host this event at no cost to ourselves.

There were again no Honoraria payments to Officers who act in their own time on behalf of the Freemen at large. However, given the continuing number of vacant posts and the fact that those who would be entitled to one have always donated the awards back to the Freemen’s funds, the Committee decided against awarding any amount this year. Common Hall has managed to fill these vacancies.

I continue to show the unknown receipt of £2,000 in September 2023 as an amount owing in Accrued Expenditure ie as being liable to be paid out at a future date. I shall continue to show it as such until we either know the source or the Committee feel that its safe to assume it was a donation from a benefactor who wishes to remain anonymous.

The Balance Sheet reflects this small surplus on the Income & Expenditure Account of £274 with an increase in our overall funds from £51,762 to £52,036.