Good report, voted.
313K in the bank seems bonkers in this day and age... given the inexistent interest rates, effectively AUK is burning 10 grand per year due to inflation.
Did you read the bit about "why £313 in the bank?" That first item, the update of events database and website, is going to take care of much of that.
I understand the need for money in the bank... but being a saver myself I am also well aware of how quickly this money gets eroded in this low interest rate + currently devaluation scenario
Yebbut —
1. As Delph says, a huge chunk of that is allocated to the new systems
2. For years it has been near-impossible to find worthwhile things to spend the money on (see previous AGM reports), so it has been increasing year-on-year
3. You're desire to "save" £10k per year in cash-deflation would result in having no money in the bank — which is a crippling position to be in when the sh!t hits the fan! The point of having liquidity is specifically to ride whatever storm comes next, and organisations that fail to recognise that, or fail to do something about it, quickly discover their fatal mistake ... Carillion, anyone?
£313k sounds like a lot of money, and it is to individuals like you and me, but what's better — £200k? £100k? One pound? Where do you draw the line?
The cash pile was not a stated aim, it was an outcome of market-realistic membership fees coupled with non-member penalties for riders not being members when they wanted to ride an audax — there has to be SOME advantage to being a member! Across so many events every year, it all adds up.
Oh, and years of not being able to come up with anything that the membership would consider worthwhile to spend it on. Until now.