As we all try and decide if its worth voting and if yes who to vote for I am looking forward to the annual report and accounts again.
The 2012 to 2017 accounts compared were fun
- same income in both years
- 1,033 fewer members so everyone is paying much more - over 10% more
- no printed magazine at the end ... yet printing costs are only $16k less (???)
- employee costs are up by more than 25% - $287k more ...after we have spent $250k on an IT system to streamline cost (???)
- net assets down from $2,704,986 to $1,473,084 - an average loss of $246,380 to lose $1,231,902 of member value
Sad bastard that I am I'm looking forward to seeing what 2018 brings
If the financials this year are at ALL similar to the last 5 the cynic in me is seeing that current senior management who have been there for the past 4 years have about another 2 years before the cash runs out and we have to sell the headquarters to make payroll - my guess they will abandon the ship that frankly they have been hacking holes in below the water line.
If the financials are a turnaround I'll be amazed ... but given membership numbers are apparently up again and of course we have had another increase in fees of another 9.3% in one year - there is a chance that we might not lose money this year ... but I'm not holding my breath.