Minutes of Finance Sub-Committee

Held at Mumeishi 21st October 2007

Present: President, Chairman, Jodo & Kendo Bucho’s, Treasurer. Apologies: Iai Bucho.

1. Auditors Management Letter for 2006 The auditors management letter for 2006 had been pre-circulated with the agenda. There was a short discussion but the report raises no issues for action and so was noted.

2. 2007 Status & Projection Talked through results to date and the projection for this year (papers were circulated in advance. It is now definite that we will generate a significant surplus this year, the main reasons being: 1. Not having had a coach part year. 2. The reduction in newsletter frequency. 3. The removal of subsidy on certain types of membership. 4. A particularly strong outturn on this year’s Brighton summer seminar

3. 2008 Budget The draft circulated in advance was discussed and broadly agreed, subject to: 1. Some tweaks within the Jodo total. 2. The dojo kick start initiative requested by Jodo was adopted for application to all 3 bu. Total spend £1k. 3. Agreed to offer a subsidy for up to 6 selected individuals to attend the Brussels Shinpan course @ £200 each being approximately seminar fee and accommodation, total £1.2k 4. Given the surplus we will generate this year the committee agreed in outline (subject to knowing some costs etc) to investing in developing our web site and moving to direct debit for membership.

4. Membership Fee’s for 2006. Agreed that overall there is no need to change membership fees, and therefore we propose to leave them as is for 2008. This will be 4 years in a row that full membership rates have been unchanged. One exception is a minor tweak between Junior and Concession part year memberships where it appears we published a typo last year, these rates should be reversed.

5. Capital Invesmtnet. Agreed to capitalize the following items: 1. Membership Secretary Scanner (£142.06) 2. National Coach Car (£1630) 3. Sage Upgrade (£250)

6. Expenses 1. Agreed no changes to expense rates. 2. Agreed that the ‘allowance’ is a guideline maximum for expenditure which we refund against receipts, not an amount guaranteed regardless of actual spend.

7. A.O.B. Under AOB it was discussed and agreed to request the membership secretary to investigate and if possible implement earlier renewals of dojo affiliation, thus allowing individual membership to be reliant on being a member of an affiliated dojo.

There was some discussion about IKET.

The meeting closed after 65 minutes.