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Region Treasurer Report

Finance report

For officers and regional reps meeting on 21 January 2023

Budget for 2023 regional levy – For full report please see Region Drop box/Region meeting & reports

Before finalising the amount to be charged to members for the regional levy, I would like to discuss the draft budget with the officers as expenses depend on their plans for the year (to 31 July 2023)

By way of a reminder and for those officers and reps who are new to their roles, all levies (region, UKPAC, Eistedfodd) and SIGBI fees are payable for each year from 1 April to 31 March. SIGBI fees are pro-rata for new members but the region levies are payable in full due to the small amount charged.

The accounts for region run from 1 August to 31 July. Please be aware that levies are still payable for any new members who have joined since 31 March 2022 – please ask your club treasurer to send me the names of new members and payment of £2.25 per capita for the 2022 region levy. Region levies are accounted for as received.

At this point, we do not know how many members there will be in the region at 1 April 2023 but as we had general reserves at 31.7.22, I am hoping to propose that there is no need to increase the levy from the amount of £2.25 charged last year. We will be able to cover any small shortfall between regional running costs and the regional levies received from reserves.

Requests for 2023 region levies will be sent out in March with payment due by 31 May.

UKPAC levy and SIGBI fees

Some of you will be aware that the UKPAC levy will be collected by SIGBI this year through the annual membership forms. This will streamline the system with clubs making a single payment to SIGBI for SIGBI fees, UKPAC levy, insurance, etc rather than clubs making payment to me as regional treasurer and region then forwarding the payment to UKPAC.

The UKPAC levy for 2023 has been set at £1.44 per capita with a reduced rate of £0.48 for members under age 25

SIGBI fees for 2023/24 are £53.16 per capita (reduced rate of £23.88 for members under 25)

MicroFinance

Further to the article in the August 2022 Soroptimist News, I would like to propose that we discuss whether the region should invest some of our reserves in one of the MicroFinance schemes that SIGBI offer ie Lend With Care or Kiva. I understand that SI Chester have invested with Kiva and would be interested to know if any other clubs have invested and what their experience has been.

Diane Bennett

January 2023