Treasurer's Report

Michael O'Loughlin

Main points from 2005 Report.

Membership for the year was down on last year for both Senior and Junior sections. We currently have 61 Divers and 43 Junior snorkelers. Fall off was evident from some of last years trainee divers who did not stay with us, and we had a number of people moving away from the area for work reasons. Impact on income was tangible in that we were down considerably from last year.

I would like to thank our members who were very forthcoming in the payment of subs this year. This makes the treasurer job very comfortable and ensures that the club can get a handle on available funds early in the year.

We had quite a healthy balance on hands from last year but you might remember that we also carried forward a number of bills that were outstanding at year end last time, which amounted to €4.5k approx.

The committee made a decision to upgrade our oxygen equipment during the year and this was seen as an essential expense, we also had the two Bauer compressors serviced and essential repairs carried out by the Bauer agent in Galway. These items cost almost €3k.

Taken on the basis of actual spending related to income received for the year we would have come in within budget, however the accruals meant we are showing a deficit for the year, but we still have a positive bank balance overall. We tried our best to keep costs in hand during the year and probably had the best run in several years with our engines. Many thanks in this regard is due to Gerry O Dowd and his efforts in ensuring the best servicing for our money with OB Marine. Trailers are a different story and this year was definitely "Trailer Disaster Time" with costs of over €2k in repairs. Thanks due to John McLaren for making the journey to Strokestown to pick up one and to Neill Bannon for the return to Oughterard for the other during the summer. There was a notable increase in petrol costs for the year, and while prices went up I think we had a lot more boat useage particularly since we started meeting at the coal harbour on Wednesday and Sunday.

An exceptional item to be accounted for was the sale of the Northcraft, €2950, and the purchase of the new Lencraft. The total cost of the new boat was €20k, which was funded by a new bank loan of €12.5k, (the previous loan was paid off in full during the year), trade in allowance of €2k for 40HP engine, and €5.5k from our own funds.

I have tried to ensure that all items due to this year have been accounted for before year end so as to minimise accruals going forward. In this regard there is an amount of only €440 to be carried forward. This relates for the most part to a payment to Newpark school for the Junior pool sessions.

Other costs were mostly in line with previous years with no significant changes. I will have copies of the balance sheet and notes with me at the AGM. For anyone who cannot make the meeting and wishes to get a copy of the accounts give me a call and I`ll send them to you. It is club policy not to post full details of our accounts on the web site.

Michael O Loughlin
Treasurer CSAC (outgoing)

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