TREASURER’S REPORT - YEAR TO END 2017

The accounts now show clearly the financial results of the Freemen’s activities for the year. Quite simply, the current income from Port Meadow and donations is sufficient to only cover the expenditure on the “Oxford Freeman”

Donations show a large fall, perhaps an indication of the current financial climate. Indeed, of the £226 received, £165 was from Honoraria payments donated back into the Freemen’s funds. The Committee is grateful to those other Freemen that have supported us financially.

Interest rates continue to be low although they have increased very slightly during the year and are expected to rise further. We now receive 0.5% interest!!

Our grazing permits were fully let in 2017, and we also receive income from the Oxford Anglers for the right to fish from the banks of the Meadow. These charges have remained unchanged for very many years and perhaps they should be reviewed. However, we are tied to some extent to the amount charged in fines to illegal graziers. The Oxford Model Flying Club also make a donation for the right to use the Meadow for their activities.

The cost of producing “The Oxford Freeman” continues to be our largest recurring annual expense. The first Journal of 2017 was John Carroll’s last, and we are indebted to him for the work he has undertaken on behalf of the Freemen over many years. He is succeeded by Geoff Gibbs, who also maintains “The Oxford Freemen” website. I know he is keen to cut, or restrict future costs, by distributing as many copies as possible by electronic means. If you can help him to achieve this, I know he’ll be pleased to hear from you.

The second largest expense is the Honoraria paid to various Officers who act in their own time on behalf of the Freemen at large. The cost shown is not as extravagant as it may look. The costs shown is the full amount awarded for the year, but as mentioned above a significant part of this was actually donated back to the Freemen’s funds.

The Expenditure on “Entertainments/Hospitality” represents the cost of providing meals for guests at the St George’s Day lunch. Top table guests at the annual dinner are covered, with a bit to spare, by the raffle organised by Bryan Keen, for which we are grateful.

We were again indebted to Greene King, suppliers to the Plough, Wolvercote, the venue for the annual Aunt Sally match, who continue to kindly provide the beer and, thus, allow us to host this event at no cost to ourselves.

Expenditure on the Freemen’s Awards’ increased due to a £200 contribution towards catering at the event provided by the Council. These awards are viewed as a major way in which the Freemen can raise their profile within the City.

The Committee also agreed to make a donation, from its accumulated funds, of £1000 towards the Port Meadow Airfield Appeal. 

The Balance Sheet reflects the deficit incurred with a reduction in our overall funds – a fall from £52,281 to £50,341.