Treasurer's Report

Treasurer's Report
Treasurer’s Report
 
The Fun Run continues to be our major fund-raising event.  Over the last eight years, it has generated a profit of over $550,000.  This year we generated only around $40,000 profit, while the three previous years generated a total profit of $240,000.  Next year we will not be directly competing against the SMH Half Marathon and the Blue Mountains Cliff Run.  We must do better in 2018. 
 
Where we did do exceedingly well this year was in gaining Rotary Grants.  We obtained a $6,000 District International Grant and a further $36,908 Rotary International Global Grant  –  we are adding $20,000 of our own funds  –  for our PNG Rambutso Sanitation Project.  The driving force behind this was Lynne Shori; her’s was an amazing achievement.
 
Royal Far West received $9,000 support for a Walgett Camp and we paid the second $11,000 tranche for the Royal Far West PhD scholarship.  Clontarf Association received $10,000 and the Fragile X Association $2,500.  Over the last 10 years, the Club has donated in excess of $1,158,000.  Just over two-thirds of these donations were to local projects.
 
The Fun Run provided $550,000, NSW State Government grants contributed $164,000 and Rotary grants another $42,908.  The other $400,000 was mainly our own work.
 
The Club sent candidates to both RYLA and RYPEN and donated just over $7,000 to Rotary causes, including Polio Plus.  We contributed another $3,000 to Police Legacy and remain extremely grateful for the support that the Northern Beaches Area Command gives to the Fun Run.
 
We are not soft touches and the board spends much time in considering submissions for support.  The commitment of our members, and their willingness to pitch in, makes this possible. We do not support on-going operating expenses but will happily provide minor capital equipment. 
 
Dues paid to Rotary International and District 9685, plus incidental costs of being a Rotary Club amounted to just over $9,170.  Our membership subscriptions yielded $9,845.  There is really no scope to reduce our subscriptions.  After allowing for our carryforward war chest, our result for the year will be a small surplus.  We don’t keep significant carry forward funds, save for a $5,000 buffer for contingencies plus a further $1,000 to meet our excess lest there be a claim under our Rotary insurance policy.
 
 “The Rotary Club of Manly Public Ancillary Fund” has DGR (i.e. deductible gift recipient) status.  The Public Ancillary Fund issues tax deductible receipts for donations; this contributes greatly to both the volume and value of donations we receive.  Every Rotary Club should have such a fund and we have a kit which we give out so that they can achieve this.  The DGR rules are that we can only make donations FROM the Public Ancillary Fund to other DGR bodies.  All our usual recipients are such bodies.
 
It is always a delicate balance in our Club between giving as much as we can to immediate needs and providing a base to support longer term projects.  It is equally difficult deciding which organisations will receive donations and those which must miss out.  The support given by members of the Club and their willingness to contribute enable the Club to achieve all that it does. 
 
John Shanahan
Treasurer 2016-2017