Income
The CRA’s income derives solely from voluntary contributions paid by residents. Over the first 10 years the annual total averaged out at around £3700 pa, derived from individual subscriptions of £50 pa. At the November 2014 AGM, residents voted overwhelmingly to increase the recommended subscription from £50 to £60 per annum. This was the first increase in 10 years and it helped boost our income for 2015 to over £4700. Subscriptions are based on the calendar year but we encourage payment by standing order on 1st February, a few weeks after the expense of Christmas and New Year and in a month when Council Tax Direct Debit payments have finished. In the early years considerable sums were spent on legal fees and consultancies but this is now all behind us and over 90% of current income is used for maintaining and improving the estate and its infrastructure. For the foreseeable future the lion’s share of this 90% will be spent on resurfacing the roadway. The remainder is spent on other things which residents consider worthwhile (see ‘Management of the Estate’ below).
Subscriptions
Voluntary contributions to the CRA may be paid by cheque, bank transfer or Standing Order. Cash payments will be accepted but methods involving an audit trail are preferred. Standing Orders are welcomed as they ease the administrative burden for members of the Committee, especially the Treasurer. Most residents have opted for an annual payment on 1st February but monthly payments are acceptable too. The current subs range from £60 – £120 per year with the average working out at £70 per annum. Standing Orders are easily set up in branch or online but a CRA mandate proforma is available if required (a copy is enclosed with the Welcome Pack). The CRA bank details are:
Name of payee: Chalklands Residents Association
Sort Code 60-13-35
Account number 49020137
If paying by bank transfer or Standing Order please be sure to include a reference (e.g. Emery 31) so that your payment can be identified in the CRA bank statements.
Thank you for your support.
Administration Costs
Our “Admin” costs are kept low and cover:
- Annual premium for public liability insurance (initially this cost £525 but we now pay around £210)
- Hire of the Bourne End Community Centre/Library hall for our AGM (around £50)
- Website costs, newsletters, window stickers, stationery and photocopying, postage.
Future “Admin” costs are likely to remain similar and at no more than 10% of income.
