Thursday, 13 February 2020

NZMS Secretary Report 2018/19

2018/9 Secretary/Treasurer’s Report to NZMS AGM, 22nd November 2019

The 2018/9 financial review will be placed on the NZ Charities Commission website

Our membership is now managed through the Swimming NZ database. For every $60 membership fee per Masters swimmer, an affiliation fee of $10 per swimmer was paid to Swimming NZ up until 30th June 2019. This has now been increased to $10.20 per swimmer from 1st July 2019. From 1st January 2018 until 30th June 2018 existing and new Masters swimmers were offered free membership, so no membership revenue was collected during this period. The balance of $23,394.29 at the 1st January 2018 dropped to $7058.36 at the 30th June 2018.

Online entry fee payments to sanctioned meeting began of 1/8/2017. Swimming NZ reimburses NZ Masters Swimming who in turn reimburses the hosting club. Payments from Swimming NZ are made every two weeks in the NZMS account and so a clear ledger of payments is immediately available on the database. For me personally that has been a great help.

Revenue for 2018 came mainly from subscriptions. Subscriptions were paid by cheques or by direct credit into the NZMS account by club secretaries/treasurers. Online entry fees to meetings were transferred by direct credit by Swimming NZ into the NZ Masters swimming account. These fees were subsequently transferred to the accounts of hosting clubs. This year, sanction fees and medal costs were waived for our Masters events; South Island SC, North Island SC and National SC. The hosting of Masters Swimming events remains problematic with very few club offering to host meetings. From experience, once a Masters club has established a good working relationship with their local Swimming club and Aquatic Centre, hosting a meeting is rewarding.

The 2018 review, but I have summarized the main figures as follow:

1) Total revenue for 2018 was $43,548, cost of sales was $6,129 and the total income was $37,113

2) Total expenses were $42,874

3) Therefore, the net profit (loss) was - $5761

4) Equity at start of year was $73,700; equity at end of year was $71,063

5) Total current assets are $66,799; total current liabilities are -$4264; therefore, net assets are $71,063

Up to 30th June 2019 the main figures are as follows:

1) Total revenue was $47,963, cost of sales was $8,499 and the total income was $39,464.

2) Total expenses were $52,937

3) Therefore, the net profit (loss) was - $13,473

4) Equity and assets can not be calculate until 31st December 2019.

NZMS operates a cheque account for the day to day income and expenses transactions, a Fast Saver savings account and a Savings Plus account.

On January 1st 2018 the cheque account balance was $23,394.29, on January 1st 2019 the balance was $11,757.68 and on July 1st 2019 the balance was $4,207.60

On January 1st 2018 the Savings Plus account balance was $43,380.31 and on July 1st 2019 the balance was $44,824.95

On January 1st 2017 the Fast Saver account balance was $677.23 and on July 1st 2019 the balance was 678.29

The revenue lost to NZ Masters Swimming, since the transfer to the new database, is significant. What used to be $60 per swimmer to NZMS has dropped to $49.80 per swimmer. This has coincided with a decrease in the membership number since online membership payment was introduced 2 years ago. From correspondence with club secretaries or with individual members, many swimmers have not come to grasp with the new system. Passwords are forgotten and there is reluctance of some swimmers to tackle the online payment system. Once Liz Davidson or I explain the process or help individual swimmers to negotiate the online process there is a more positive response from swimmers about the new process. I still receive cheques for membership fees from individual members, direct credits, into the NZ Masters Swimming account, from clubs (some club secretaries update swimmers financial status, others leave it to me to update swimmers profiles).

Further revenue loss has come from the AGM2016 decision to waive sanction fees and the cost of medals at sanctioned events. This was to encourage more clubs to host swim meetings but this has not been a success.

NZMS now has 50 clubs throughout New Zealand with swimmer’s profiles. To date 647 swimmer’s profiles have been added to the database and the financial membership is 481 (673 financial members in 2017 and 710 financial members in 2016). 62% of financial swimmers belong to the Northern Region.

The monthly newsletter reaches all registered swimmers by MailChimp and we are pleased to advertise any other swimming events that involve the participation of Masters swimmers. The sanctioned pool meetings included the North Island (Whakatane Masters) and South Island Short Course (Ashburton Masters) events, the National Long Course event (Waitakere City Masters) and the Auckland Short Course Championships (Roskill Masters).

Thank you to members of the executive, John Fisher. And thank you to Andrew Gabites, Lesley Parkin, Liz Davidson, Jan O’Donnell and Liesl Ploos Van Amstel for their roles as NZMS officers and their respective services during the year.

Mike Bodger

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