Bringing Chess to Visually Impaired People

The Gazette - November 2012

Edited by Rebecca Blaevoet
The views expressed in the Gazette do not necessarily reflect the policies or views of the BCA, nor those of the editor.

Treasurer’s Report

Our financial year end is 30th September so I am currently in the process of collecting the paperwork together for the accountant to examine. The accountant will check through the accounts, write a report and draw up a balance sheet.

Total funds on 30th September 2012 were £101,892.30. Half of this is held in a 90 day notice account. This year £10,000 was invested in a common investment fund with CCLA, a financial services provider for charities. This investment has increased in value by £510.

Our overall aim is always to hold sufficient funds to cover the next 2 years’ costs as this enables us to commit to running the next 2 years’ tournaments.

The BCA website can now accept payments by PayPal account or by credit or debit card via PayPal. I am notified of the amount and name and address of the person paying but I have no access to card details. Since the beginning of April, the PayPal account has received a total of £565. Payments received in this way are charged a small fee but we pay less than the usual PayPal rate as we are a charity. We paid less than £10 in total this year. Previously we were using CAF Bank (Charities Aid Foundation) to accept donations online. They used to charge £10 every month plus VAT, even if no transactions occurred, and they also charged transaction fees. We are now saving over £120 plus VAT every year by using PayPal.

Gill Smith, Treasurer