Welcome to the World Jersey Cattle Bureau
WJCB Treasurer’s report for the year 2009
Country Member Fees – The collection of country member fees continues to be a problem, particularly from the Associate members of the Bureau. The RJA&HS, that provides the Bureau’s Secretariat services, has now taken over day-to-day bookkeeping and it is hoped that a persistent ‘chasing’ of unpaid invoices may result in a higher percentage collection from countries at the end of the day. For 2009, there was a total of £7,350 billed out for country membership fees with just £4,150 received. This situation MUST be improved and members in arrears are now detailed in the Financial Statements.
Levy on the 2009 Annual Meeting – We all enjoyed a marvelous programme of events in the USA in June/July 2009, and there was an admirable surplus of £3,585 collected as the levy charged to participants. However, this was some £1,500 below the anticipated figure in my 2008-2010 budget which of course was created and approved long before the world was plunged into financial and economic downturn in mid-2008.
Life Membershps – There was a slight resurgence in new life memberships during 2009, and hopefully this trend will continue.
Salaries - Secretariat services provides by the RJA&HS (Jersey Island) was the biggest cost at £8,001 which is the budgeted figure.
Accountancy fee - The Secretary and myself, with the approval of the Officers, have sourced a new accountant to process the accounts for the Bureau, and this has resulted in a saving of £419. However, the financial statements are no longer officially ‘audited’ but the Officers felt that this was an unnecessary expense to incur.
Professional Fees – We incurred professional (legal) fees during 2009 of £1,980 for the continuing attempts to have the Bureau and its Constitution formally registered with the Royal Court of Jersey. Whilst I am unhappy that these legal fees have been incurred, I believe the process is vital for the future of the Bureau. Unfortunately, we will incur further legal fees during 2010, but the Secretary and myself are making all attempts to keep these to an absolute minimum.
Despite seeing a deficit in 2009 of £3,560, with cash reserves of some £38,000 the Bureau continues to be in a very healthy position financially, but it is still very reliant on collecting a large sum of money every three years through the levy on participants of the International conference.
Stephen V. Le Feuvre
(Honorary Treasurer, World Jersey Cattle Bureau) May 2010