Providing the facts and figures

Times Contributor  

 

Members of the Strathmore and District Ag Society received the requested unaudited financial report for 2012, at a meeting held on Dec. 11, 2012 in the Chuck Mercer Room of the Strathmore Civic Centre.

Last year the membership voiced concerns about accounting practises, and they asked for a bookkeeping review and a presentation of the financial report to answer those concerns. 

It was an initiative to move the Society forward, into better accountability practises and continued growth.

Gregory Harriman and Associates prepared the report.

“Nothing has come to our attention that causes us to believe that these financial statements are not, in all material respects, in accordance with Canadian generally accepted accounting principles,” claimed the Gregory Harriman cover sheet.

The report compared 2011 to 2012 figures, with a cut-off date of Oct. 31, showing differences between the two years.

In many areas, Schedule 1 of the report showed improvements from the prior year.

“To their credit, it is a substantial improvement,” said John Gauvin, CGA.

There were gains in: 

• Food and beverage sales, 

• Fundraising, 

• Raffles and auction tickets, 

• The tarp auction, 

• Campground sales, 

• Farmers Market revenue, 

• Donations

The membership increased by $1,015, which supports continued interest in the Society. Admissions fees were down, but in 2012, Heritage Days cut back the event by one day.

“It is interesting to note that Heritage Days was decreased by one day, but total admission revenues did not suffer significantly,” said Sarah Williams, CA.

According to Schedule 1, there were good efforts to cut back expenditures, which the Board of Directors and operational staff promised to the membership:

• Prize money decreased,

• Purchases were down, 

• Repairs and maintenance costs lowered,

• Farmers Market costs curtailed, 

• Telephone bill was less

• Less was spent on conventions and conferences,

• Volunteer appreciation costs cut

• Donations significantly curtailed 

• Livestock feed and vet costs lowered

• Property taxes and interest on loans and bank charges reduced

• Less money spent on the banquet

The Society’s Cash flow at the beginning of the year was in the red, but with the sale of land and cost cutting measures, the figures sat comfortably in the black by Oct. 31, 2012. 

Last years completed projects were:

• Quonset reface

• Building a secure Count room for sorting money

• Rodeo grounds and bathroom maintenance

• Bleachers on the south side were repaired

• Power upgrade made to the campground

• Livestock Pavilion upgrades

• Grounds cleanup by sea cans

• New chutes with High School rodeo funding help

• Upcoming development of an outdoor skating rink

Members suggested that a system of checks and balances occur, to track funds throughout the year and a bookkeeper be hired.

They also suggested that improved decision-making processes were needed for 2013 expenditures and continued efforts expended to improve accountability and repayment of any lost funds, or past loans.