Accounts updates

It’s not very much in the grand scheme of things and it’s still only been increasing very slowly (perhaps we need to focus our messaging on getting people off gofundme and onto gocardless subscriptions). Currently we are getting payments monthly of about £75 and weekly £4.00. So ~£90 in total a month, minus fees. Actual weekly payouts depend on what donations went through that week so they vary

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@Sergio @ben I didn’t put links to weekly forms on the website:
https://cooperationbirmingham.org.uk/donate/

Nothing else is weekly really. Monthly seems to be the standard for this kinda thing.

Week 21 (9th week): £772.22 spent, £2,265.52 taken = £1,493.30 surplus

Cumulative: £13,407.27 taken, £4,711.16 spent = £8,696.11 surplus = 65% remaining on hand

No new subscribers which is perhaps no surprise, however the Gofundme continues to get some big donations (including £1,000 on behalf of the Millie’s Masks project), plus two £500 donations directly to the bank account. As I said in the general meeting, we do have a lot of money to spend.

Week 22 (10th week): £700.92 taken, £1,043.89 spent = £342.97 deficit

Cumulative: £14,108.19 taken, £5,755.05 spent = £8,353.14 surplus = 59% remaining on hand

Comparatively less coming in from GFM this week due to when donations arrived but it is still doing fine - over £12k now. It was an expensive week thanks to a few large invoices and the fact that I’ve done all the payments for this last week on Sunday evening rather than on Monday so I can have some time off! So we have paid out twice in this week and will pay much less week. There is a bill coming up for washing machine service plus a couple of non-contact thermometers. However things are still rosy and we should be thinking of more ways to spend money effectively.

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Week 23 (11th week): £419.59 taken, £4.45 spent (not a typo) = £415.14 surplus

Cumulative: £14,527.78 taken, £5,759.50 spent = £ 8,768.28 surplus

Not so much coming through our fundraising sources last week. Due to paying wk 22’s expenses in wk 22 itself (rather than in wk 23 as would be usual) expenditure was low as well though.

Haven’t had to pay for the machine service yet - has that happened yet @Paul?

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Week 24 (12th week - 3 months!): £350.37 taken, £514.20 spent = £163.83 deficit

Cumulative: £14,878,15 taken, £6,263.70 spent = £8,604.45 surplus = 58% remaining on hand

Money fundraised is down for the 3rd consecutive week although our expenses are still under control - things are arguably beginning to organically tail off on the kitchen project front.

Week 25 (13th week): £81.36 taken, £1,170.96 spent = £1,089.60 deficit

Cumulative: £14,959.51 taken, £7,444.66 spent = £7,514.85 surplus = 50% remaining on hand

This was the lowest week for fundraising so far (excluding weeks when we were having payout problems with Gofundme) and also very expensive in terms of ingredients (a few invoices coming at once?). Next week looks to be back on track in terms of expenditure (close to the average for the previous 8 weeks) but income is still pretty bad. Once we have a clearer idea of upcoming projects and our next moves we should start fundraising more concertedly again

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Week 26 (14th week): £13.26 taken, £787.83 spent = £774.57 deficit

Cumulative: £14,972.77 taken, £8,232.49 spent = £6,740.28 surplus = 45% remaining on hand

No income received from Gofundme this week (another £40 or so due imminently); we essentially no longer have any significant income so the money will run out in approximately two months. This seems like it might dovetail with the plans to taper off the food deliveries.

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Week 27 (15th week): £71.03 taken, £834.52 spent = £763.49 deficit

Cumulative: £15,043.80 taken (we broke £15k last week!), £9,067.01 spent = £5,976.79 surplus = 40% remaining on hand

Our reserves took a big dip last week due to a few big ingredients/packaging orders plus paying a £336 invoice from Fareshare for the deliveries we’ve been getting since April.

PS made a mistake in the cumulative numbers, have fixed now

Week 28 (16th week): £33.04 taken, £189.56 spent = £156.50 deficit

Cumulative: £15,076.86 taken, £9,256.57 spent = £5,820.29 surplus = 39% remaining on hand

Not much in or out last week, as it happened - no particular reason for this. Our petrol expenditure has of course gone way down - only £20-30 whereas it was frequently more than £70 before. This represents lower mileage due to double drops and also the fact that most of the current drivers aren’t claiming money for petrol

Week 29 (17th week): £115.61 taken, £162.58 spent = £46.97 deficit

Cumulative: £15,192.47 taken, £9,419.15 spent = £5,773.32 surplus = 38% remaining on hand

Our reserves continue to go down but at a better rate, thanks to a bit more gofundme income. There was one ingredients/packaging invoice from last week which didn’t get paid until today so we also had some deferred costs not accounted for last week (so there will be a bigger deficit this week instead)

Week 30 (18th week): £61.56 taken, £360.73 spent = £299.17 deficit

Cumulative: £15,254.03 taken, £9,779.88 spent = £5,474.15 surplus = 36% remaining on hand

A more expensive week than usual due to the delayed invoice from the week previous. At this run rate (based on avg deficit of last 2 months) we have roughly about 3 months’ reserves remaining (this estimate doesn’t take any account of the decline in portions over time).

Week 31 (19th week): £3.56 taken, £241.12 = £237.56 deficit

Cumulative: £15,257.59 taken, £10,021.00 spent = £5,236.59 surplus = 34% remaining on hand

Essentially no income last week. By far our biggest expense this week was paying for numerous takeaways after various delivery disasters; also we gave a grant of £100 to Coopcycle for buying delivery boxes.

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@ben could you possibly forecast how things would look after deliveries stop at the end of the month?

For example, do Warehouse Cafe need to invoice us for the use of the space? etc etc.

Yep definitely. I just need an idea of utility costs (@Paul?) and I think I have everything else I need to do a projection

edit: sounds like we could have the numbers for the next meeting, so I will do the forecast next week

Week 32 (20th week): £3.56 taken, £275.69 spent = £272.13 deficit

Cumulative: £15,261.15 taken, £10,296.69 spent = £4,964.46 surplus = 33% remaining on hand

Another comparatively expensive week in terms of supplies (ingredients and packaging/hygiene) although delivery expenses were only 1/3 of average.

Week 33 (21st week): £67.31 taken, £221.07 spent = £153.76 deficit

Cumulative: £15,328.46 taken, £10,517.76 spent = £4,810.70 surplus = 32% remaining on hand

Overall very similar to the last few weeks although we actually took a fair amount via Gocardless last week (due to when in the month subscriptions are set up, we get a bump in income every 3rd or 4th week)

A rough forecast of where we can expect to be after deliveries end:

Regular expenses wk 34+35: £400
Fareshare: £200
Utilities and cafe stock: £4,000

Total expenditure: £4,600
Income: £75
Deficit: £4,525

Leaving £285 in the bank

Less than I had hoped for - it would have been nice to have some funds to channel into future CB projects - but delivering >15,000 meals and breaking even is pretty good.

PS: since cafe staff (@Seb @Paul @Ciara) have been individually out of pocket for supplies, I will be prioritising their repayments in the event that there is a crunch and we need to fundraise money to cover a shortfall with BFOE (for example). To make sure we have the cash to do this I will need any outstanding expenses in the next couple of weeks as soon as possible :+1:

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Week 34 (22nd week): £3.56 taken, £72.74 spent = £69.18 deficit

Cumulative: £15,332.02 taken, £10,590.50 spent = £4,741.52 surplus = 31% remaining on hand

No ingredients or packaging expenses came through last week so not much in or out.

Updated forecast
Regular expenses wk 35+36: £400 (TBC)
Fareshare: £200 (TBC)
Waste: £550.56 (confirmed)
Stock: £114.84 (confirmed)
Rent: £750 (TBC)
Utilities: £1600.94 (April-July) + £1,100.06 (July & August, TBC)

Total expenditure: £4,716.40
Income: £75
Deficit: £4,641.40

Leaving £100 in the bank

This has unfortunately gotten worse since the last estimate, contrary to what I said in the meeting on Sunday. Somehow I forgot there was another month between June and August so I underestimated utilities by £550, which takes up basically all the rest of our surplus.

There is a possibility this may change slightly - the utilities seem more than expected and that makes up the bulk of the cost. If these change then we might be a little well off but it looks like we are looking at breaking even again. Our remaining ingredient costs might be a little lower depending on what’s been needed since the last Bookers order on the 13th.

Week 35 (23rd week): £13.26 taken, £213.49 spent = £200.23 deficit

Cumulative: £15,345.28 taken, £10,803.99 spent = £4,541.29 surplus = 30% remaining on hand

The last of the major food and packaging orders so quite an expensive week in that regard but no cause for concern.

Update on closing accounts
We have now paid for:

  • All ingredients and supplies bought for the project (as far as I know)
  • All ingredients taken from cafe stock
  • All delivery driver expenses
  • Rent
  • Waste

Leaving about £3,800 in the bank to pay:

  • Fairshare (about £200)
  • Utilities (previously estimated at about £2.7k but being revised downwards - not yet confirmed)

So as well as the last couple of weeks being lower than expected on regular expenses (due to fewer drivers and less stock needing to be bought), it looks like our lower utility costs could leave us in a better place than per the last estimate. Should have cleared everything apart from potentially Fareshare by the next weekly update.

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Week 36-38: £373.78 taken, £2,040.69 spent = £1,666.91 deficit

Cumulative: £15,719.06 taken, £12,094.68 = £2,864.38 surplus = 18% remaining on hand

(week 38 hasn’t ended yet but I don’t expect there will be any extra payments in the next 3 days)

We had the first bit of Gofundme income in some time (about £300) in addition to ongoing subscriptions. We have also paid our utility costs which have been knocked down to a much more bearable £540. It’s only the Fareshare closing invoice to be covered now.