AGM Treasurer's Report 2020

TYC Financial Report AGM 2020 What an interesting year it has been, with Covid-19 having an impact none of us could have predicted. There have been a few challenges for Becky with Covid-19 and funding being hard to come by however she has taken it all in her stride and has managed very well in her first full year of managing the TYC. AS mentioned, funding has not been as forthcoming which has resulted in the TYC showing a Net Loss of $17,683. Financial Statements for the year ended 2020; Total income received decreased by a further $9,017 on the previous year, this decrease can be reflected in Lotteries again not giving us the funding we requested to cover the full-time management position and therefore increased opening hours of the TYC, we received $12,933 less from them. We did receive $5,000 funding from the Waikato Community trust which we missed out on last year and COGS also gave us nearly $1,000 extra funding on the previous year. The expenditure for the year was down by a total of $9,028, due to the Covi-19 shut down period the costs of programme expenses were considerably less, TYC also changed the security system to a camera outside the building which saved on security cost, by no longer having to pay monitoring fees. Wages were also down on previous year but this is mainly due to not having an overlap of staff compared to the 2019 financial year. Telephone expenditure was up as the TYC purchased a cellphone for Becky rather than her having to use her personal phone and data. This year the funding carried over from Lotteries amounts to $20,000 which is 8 months (1/7/20-23/2/21). Further financial happenings; The decrease in funding from Lotteries is still an issue and we may have to again review the full-time position of the Youth Centre Co-ordinator/Manager. The committee and Becky have looked at different options and Becky has managed to secure a second role within the industry which does ease our wage commitments to her. Thanks, Becky, for being so flexible. Becky has been working hard at securing extra funding both for operations and repairs to TYC. Hopefully her hard work will pay off in the next financial year. In addition to the funding from the Lotteries Board (being our major contributor) Becky also managed to secure funding from: COGS and Waikato Community Trust. The TYC also received the Covid-19 wage subsidy for 2 weeks when the level 4 lockdown restrictions came into place. I did not apply for any further subsidy as the TYC received the Lotteries funding early April which meant TYC did not fit the criteria. All funding has gone to the overall running of the centre, both by way of operations, wages, repairs and maintenance, youth programmes and projects. Although the regularity of committee meetings was put to the test this year due to circumstances; the time and efforts put in by the committee are commendable. It is not always easy volunteering your time so a big THANK YOU to those that have. Frieda TYC Treasurer 19/20