Income 12 months 12 months to 30/09/01 to 30/09/02

Subscriptions 5,849.59 6,035.84 Profit on shop - 131.30 158.61 Boat plans 306.00 103.00 Bank interest 29.79 31.30 Donations 39.00 5.00 RYA income Miscellaneous income 180.65 16.00 Total Income 6,273.73 6,349.75

Expenditure

Bulletin printing 4,383.00 4,054.00 Bulletin typing and layout 185.59 51.62 Bulletin postage 1,185.42 1,397.71 Leaflet printing 268.26 281.39 Publicity 235.00 Membership secretary's expenses 87.67 National secretary's expenses 711.25 89.05 Treasurer's expenses 16.61 15.09 President's expenses 72.31 Technical advisor's expenses 56.08 38.90 Library expenses 219.84 306.79 AGM net cost 177.50 524.88 Exhibition expenses 100.00 270.25 Solent Preservation Society 7.50 7.50 RNLI 50.00 50.00 RYA 62.00 66.00 Miscellaneous expenditure 72.00 8.00 Website 117.50 Public Relations 21.72

Total Expenditure 7,890.03 7,300.40

Excess of Income over Expenditure -1,616.30 -950.65

*Balances as at 30th September 2002

Current Account 1,761.75 2,798.13 Deposit Account 5,963.47 3,994.77 Cash -19.31 -37.64

Total Cash 7,705.91 6,755.26

I have allowed for transactions uncleared as at 30th September. This will allow members to make a more realistic comparison year on year (There is a large expenditure on an edition of the bulletin close to this date). For the record, the actual balances on the two DCA bank accounts at this date were:

Current £4,241.80 Deposit £3,989.77

An item which appears anomalous is the figure for the National Secretary's expenses. Prior to this accounting year the National Secretary was responsible for bulletin postage and the 2000/2001 figure reflects this.

These accounts are unaudited and I am hoping a suitably qualified member will take up the office of auditor on 1st March.

I am unable to attend the AGM this year as I am due to be out of the country for three weeks for my work. It is my intention to make the accounts, complete with supporting vouchers, available at the AGM for any member who may wish to inspect them. Any questions arising will no doubt be included in the AGM minutes published in the bulletin following the AGM. Of course, I am also happy to receive questions by post or e mail. Any questions received will be published together with answers in the bulletin.

Finally I must pay tribute to Gerald Levenson who has been our auditor throughout my tenure as treasurer, but who has now stepped down from this office. I believe he also served throughout Terry Hughes' tenure of ten years. I am indebted to Gerald for his professional guidance and friendly help and I am certain that I also speak for Terry who spoke warmly of Gerald to me when I took over the accounts.

Jeff Rogers – Treasurer