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Forum Finances Summary 2018


BEngo
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Last time I reported on the forum finances was at the end of June, when we had £531.16 in the bank.

 

This report covers the whole of 2018.

 

At the beginning of the year we had £1017.83 in the bank.

 

During the year we received  Just over  £1857  in donations.  The best month we received £413.95 and the worst month £44.82.

We expended almost £2006 on running the site

 

At the end of December we had £870.16 in the banlk.

 

Thank to everyone who supported  the forum.   For those who are thinking of donating regularly, an aggregated annual or 6 monthly sum is most effective- PayPal charge us a fee for collecting each donation and this is a greater percentage of a small sum than a larger one.  As an example from 12 x  £1.00  donations we get £10.80.  From an annual donation of £12.00 we would get £11.35- an extra 5%.

 

Since October Rich M,  our Tech Admin has done much to reduce the site costs whilst maintaining the level of reliability and service.  Our main expenses now are:

 

Forum Software: Invision                              £65.00  6 Monthly

Hosting:              Digital Ocean                     £83.00     Monthly

Controls:              Plesk/Cleverbridge AG      £5.00       Monthly



 

The costs above are not exact, as some are paid in US Dollars and fluctuate as the currency exchange rate varies.

 

Thank you again for your support.

 

Regards

 

Nigel

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2 hours ago, Ange said:

Thank you Nigel. Forum finances are looking reassuringly healthy.

 

6 hours ago, BEngo said:

During the year we received  Just over  £1857  in donations.  

We expended almost £2006 on running the site

I'm sure there is a famous Dickens quote on this subject!

 

The Micawber Principle:

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
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1 hour ago, TheBiscuits said:

 

I'm sure there is a famous Dickens quote on this subject!

 

The Micawber Principle:

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

A small snippet - I was taking a longer view. June 2017 £531.16 in the bank, end of December £870.16. Where there are quarterly, six monthly and annual expenses and donations one year can be distorted by timing.

ETA my view is always coloured by a much longer perspective - there were two buttons and a bean in the forum coffers when I took on the accounts about the same time as MTB's fundraising drive. We've come a long way since then and have a very comfortable buffer to cope with short term shortfalls.

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18 minutes ago, Ange said:

A small snippet - I was taking a longer view. June 2017 £531.16 in the bank, end of December £870.16. Where there are quarterly, six monthly and annual expenses and donations one year can be distorted by timing.

ETA my view is always coloured by a much longer perspective - there were two buttons and a bean in the forum coffers when I took on the accounts about the same time as MTB's fundraising drive. We've come a long way since then and have a very comfortable buffer to cope with short term shortfalls.

That's a fair comment, well made.

 

I still stand by Micawber as a general principle, but I do accept that timing of cashflow statements can be misleading ... that is how PwC make all their money after all. :D

 

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14 minutes ago, TheBiscuits said:

That's a fair comment, well made.

 

I still stand by Micawber as a general principle, but I do accept that timing of cashflow statements can be misleading ... that is how PwC make all their money after all. :D

 

After working in the City in the banking sector for 15 years in the 80s/90s I cannot disagree :D

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It's good to see the finances are looking a bit healthier than they were but a valid reminder that the best things in life are not as free as we might like them to be and so thanks for the nudge to dust off a few coppers out of the pocket linings and send them over.

 

If others feel so inclined I will help by posting the link here:

 

https://www.canalworld.net/forums/index.php?/store/category/6-make-a-donation-to-canal-world/

 

For future reference it can be found on the home page

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Both The Biscuits and Ange are right in the points they make.    Average monthly income is less than running costs.  I am not yet certain by  exactly how much, because we took steps in October to reduce our operating costs and because the dollar exchange rate is not moving in our favour.  It would be easier with a working crystal ball :).  We have also just paid the 6-monthly licence fee for the site software so recent cash flow out has been higher than the average.  There will be another round of that sort of thing in May.

 

We always appreciate donations when received but more donations, and particularly more regular donations,  are always welcome.   Thank you again to those who support the site.

 

Regards

Nigel

 

 

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2 hours ago, Ange said:

When you're raised in Southend on Sea there's only one City ?

When my late step-dad (born 1911) was in his 20’s he used the train/tram to go to the end of Sarfend Pier. It was the first time he’d seen the spinning-disc anti-rain thingy on a windscreen. He asked the jaded and bored driver whether it worked well. The response was “Look at it this way mate. If a seagull shits on here it flings it straight back up where it come from!”

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