Fee Review Proposal
Review of membership fees
BUMS Management committee is proposing to increase the Membership Fee and the casual jam attendance fees from $50 to $60, and from $5 to $7, respectively. These changes would apply from 1 July 2023.
The fee for BUMS Inc membership has been $50 a year, since BUMS was incorporated in 2010. Membership gives you many benefits including entry to jams for free, discounted prices on workshops, access to BUMS Online, the ability to join any community band for free and more.
If you join after 31 December, a fee of $25 is payable for a half year to 30 June. A two- month period of grace applies to renew membership. Your membership will expire on 31 August but can be reinstated at any time by paying the appropriate fee.
The annual fee can be varied at a General Meeting of members. We have usually confirmed the fee at the AGM. For example, in October 2021, we agreed the fee would remain unchanged at $50 for the 2022-23 financial year.
BUMS Inc is a not-for-profit organisation and all monies are used to further the objects of the association:
(1) To have fun
(2) To develop our members’ ukulele playing skills
(3) Amongst the greater Brisbane community to:
- promote ukulele and music playing
- increase ukulele and musical appreciation
- provide ukulele-based entertainment.
What does it cost to run BUMS?
The following figures come from the 2021-22 accounts presented in a simplified form.
In 2021-22 total adjusted expenses were $12,130. The most significant expenses were
- venue hire (for jams and community band practice) at 22%
- insurance (public liability and equipment) at 18%
- software (accounting, webhosting) at 15% and
- catering at 11%.
This means we need to have 243 members to collect enough in fees to run BUMS. In the current financial year, 195 members so far have paid $50 (18 August 2022).
Where does our income from?
In 2021-22 total adjusted income was $16,025.
Most of our income – $12,575 – comes (78%) from member fees. Last year 2021-22, we had 257 members at 30 June. (some who paid $25 as they joined after 31 December).
The remaining income comes from for the fees guests pay to come to jams, as well as profits from workshops and raffles.
What assets does BUMS have?
At the end of June 2022, BUMS Inc had assets of $80,748. This comprised $35,869 in equipment, laptops, PA equipment and merchandise/raffle stock. We held $44,879 in cash.
The cash provides:
- a buffer if we have a fall in membership,
- funds to replace or upgrade equipment,
- money to fund projects (like festivals) and
- a protection against rising prices.
The cash buffer has been falling. In 2018-19 it was $55,447.
We increase the annual fee to $60 from 1 July 2023. The half yearly fee would be $30.
We increase the fee for guests at jams to $7 from 1 July 2023.
We investigate whether we can run SPRUKE on the Square again in June 2023. We will seek out grants available to NFP community groups again. We spent a $30,000 grant to run the 2022 SPRUKE and can probably trim that figure in 2023. If we are not successful in achieving as large a grant in 2023, we will need to access our cash reserves to run the festival.
Thankyou for sharing this information. It is important that we understand how things work. We’ll done committee.
Thanks for providing this information, as it helps us understand some of the workings of the organisation we are members of.
Good feedback and disclosure of our financial affairs folks. Thanks for this and for all your efforts during the year.