The Committee met from 7:40pm to 10:40pm. The death of Sir Alistair Morton, one of our Vice-Presidents, was noted with regret. Sir Alistair had officially opened the extension to West Hoathly and had last visited the railway for the opening of the new shop.
Finance: Income holding up despite the variable weather in August but expenditure much further ahead than it should be, mainly attributable to extension expenditure being drawn from revenue rather than capital. As a result, the Board has placed restrictions on all further spending for the rest of the year. Shop revenue continues to improve above expectations.
Society Finance: The Board wants the Society to take more control of its expenditure as this is too far ahead of budget. It was noted that the Board had set the budget for 2004 below that needed to produce and despatch Bluebell News, AGM papers and run the Society. More detailed budget estimate to be produced to prevent this happening in the future. Society subscription revenue to date is £88k, about 16% ahead of last year
Applications for Trust Funding: The Committee approved applications to go forward to the Trust for funding of up to £1,000 to get the ticket printing machines working and for £1400 to complete the repair of SR wagon 37786.
Locomotive 9017: The Committee considered another request for the loan of this engine but decided to adhere to its decision not to consider such requests until five years after its return to service.
Goods Stock Preservation List : The Committee agreed to add a number of vehicles to the list of desirable items and agreed to their acquisition should the opportunity arise, subject to the one-in-one-out policy.
Company matters: The Committee spent some time discussing issues arising from reports from the plc, to the extent that we were not able to complete all the business on the agenda.
Next Meeting: The next meeting will be held on 15th October and is additional to the scheduled meetings. All papers to the General Secretary by 8th October at the latest.
Hon Gen Secretary
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