Treasurer's Report to the Freemen of Oxford Year to 31st December 2018

Author: Simon Gibbs

A copy of the accounts of the Oxford Freemen for the year are included at the end of this issue.

The accounts, for once, do not include any “exceptional” items and reveal an almost breakeven position. With potential savings to the “Oxford Freeman” distribution costs, as outlined by the Editor in the Autumn issue, our future expenditure could actually match our income!

Donations show an increase, possibly due to my highlighting the previous year’s large fall. The committee is most grateful for these contributions.

Interest rates continue to be low although they have increased to 0.2% interest. Last year I reported that we were earning 0.5% - this should have read 0.05%!

FreemanAccounts2018.pdf

Our grazing permits remain fully let in 2018, 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 continue to 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. As referred to above, the Editor is hoping to reduce this cost by distributing as many copies as possible by electronic means. If you fail to receive future copies (in which case you will probably not be reading this report) you have probably not completed the survey that has been included with earlier issues.

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 as 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. This year our Entertainments’ Secretary, Bryan Keen, managed to make a couple of £s profit. Top table guests at the annual dinner are covered, with a bit to spare, by the raffle, also organised by Bryan.

Yet again we are 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.

We continue to promote the Freemen’s Apprentice which John Sanders organises for us. These awards are viewed as a major way in which the Freemen can raise their profile within the City.

In 2017, the Committee made a donation, from its accumulated funds, of £1000 towards the Port Meadow Airfield Appeal. In retrospect, I’ve taken the view that this is more correctly treated as an appropriation of the Port Meadow Improvement Fund rather than a cost to the Freemen’s General Fund. This is reflected in the Appropriations made this year.

The Balance Sheet reflects the small overall deficit incurred of £353 with a reduction in our overall funds from £50,341 to £49,988.