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North Shore A rti tsAiji ` -- ``I' `4. ·.,-,`,: ,..,, , (formerly West Vancouver Sketch Club) I also served on the Municipal Arts and Cultural Strategy Committee. We met on a number of occasions during the fall and winter to review the Argyle Arts Precinct and Heritage Study plans and propose changes and timelines to it. It was adjourned to meet as required. I also served on the Nominating Committee with Wanda Doyle and Anrte McMahon to find and present to the members the slate for next years Directors and Committee Heads. 7reasurer RjcfiaréSummers 604-926-5225 rgsummers@shaw.ca The annual financial report has been completed and compared to the budget. The Board has reviewed the financial report and voted to approve it. Overall the correlation between the budget items and the actual figures for the year indicated that we slightly overestimated both the revenue and the expenses, in other words we earned less and spent less than we expected to. This data should provide useful information for projecting next year's budget. The Guild's finances are in good shape and overall expenses exceeded revenues by only $1126 for the year. This is an improvement over last year and is fairly close to our aim of a balanced budget. Some comments: We changed the jurying system to provide a quicker and more equitable system by using digital images of the works to be juried. This resulted in quicker and therefore cheaper jurying costs. The system is operating well and has reduced costs. The changed approach to exhibitions by introducing a reception to some of our shows has proved successful. In general where we have provided a reception we have had greater sales and hence more revenue which usually exceeded the extra costs involved in having a reception. We should endeavor to keep a minimum of $1000 in our checking account to avoid transaction fees which can add up to a considerable sum over time. By any standards our workshops are cheap and we should try to make them self financing. This requires some vigilance to determine that we are charging a high enough fee to cover all the costs and that we have enough participants. This finishes my two year term as Treasurer and I will be stepping down. There wifi be a new President, Vice President and Treasurer providing the signing Authority for the Guild. I would like to thank all those who have cooperated to make my term as Treasure enjoyable and I wish the new Treasurer all the best. Financial Statements follow: North Shore Artists' Guild Statement of Income and Expenses June 2006 to May 2007 Actual Jun-May 07 Ordinary lncome!Expense Income 4000 Dues 4030 Gifts & Donations . Actual Jun-May 06 Actual $ Change 6970.00 0.00 407.93 554.20 216.38 928.00 6,255.00 728.00 3,125.00 712.50 6,820.00 26,717.01 6,415.00 200.00 772.15 839.05 546.50 417.05 8,697.87 937.05 3,660.00 946.43 7,144.50 30,575.60 55500 -200.00 -364.22 -284.85 -330.12 510.95 -2,442.87 -209,05 -535.00 -233.93 -324.50 -3,858.59 4050 Interest Earned 4100 Jury fees 4150 . Miscellaneous 4200 Hanging fees . 4250 Sale of Paintings 4300 Socials 4350 Web Site fees 4.400 Commissions 4580 Kay Cole Workshops Total Income Expense 5000 ADMINISTRATION 5010 Accounting 5015 Bank Charges 650.00 81.47 650.00 193.22 0.00 -111.75