Financial Report, AGM 2017; by Khalid Chohan
I would like to present the Pakistani Canadian Cultural Association of British Columbia accounts for the financial year ending 21st October 2017. The accounts statement and Bank statement for entire period has been attached to those who wish to have a copy. This report has been posted on the PCCA BC website.
As I started my tenure this year on 11th of January 2017, we had a cash of 4,018.37. PCCA BC delivered a number of events including Chand Raat, Pakistani Days, and Canada Day etc. I am Pleased to report that we successfully financially managed the events, through donors, sponsors and members contribution. However, we need to improve on control of costs. I suggest we should take multiple quotes before hiring a contractor purchasing a product. Although we have a positive balance of $6566.57, but have huge amount payables, $12388.00. Hopefully some pending deposits of cheque and cash will bring our sheet to a positive balance. During the next year, we will have a task of continuing to rebuild the operating Reserves necessary to ensure the financial stability and security of the organization.
Our income for the year was $21,722.54 which came mostly from sponsorship and Tickets/stalls sale. The net funds received are tabulated in the attached sheet.
Our expenditure for the year was $19,176.29. The majority of this expenditure was for Hall rental with food and without food. Full details of both the income and expenditure can be found in the accounts.
During the next year, we should establish or arrange continuous funds generation resources, either through fundraising events, memberships and donations. This longer term funding provides greater stability for services, and allows us to plan for the most productive association events and programs.
On the negative side, in some events, we were unable to sale event tickets to the community and receive cash for VIP event table sales. Most of executives did bring and deposited cash for the last events ticket sales and sponsorship cheques to the treasurer. Consequently, my report is not complete for this year. As per my knowledge, president has some accumulated funds with him and he will be able to update the current statement with help of a new treasurer. I think it is very important to sale tickets to directly to the community members and at the same time educate them about the association vision and programs so that they take ownership of the community association and participate enthusiastically. Best of luck for the future, as I am not running for any position in PCCA and will remain member will contribute positively.
Khalid Hussain Chohan
Treasurer, PCCA BC