Figures for the first four months of the current financial year at the White Elephant Enclosure show that income has reached the dizzy heights of £22,289. During this period box office revenue contributed £11,545 to the total.
This means the average monthly income has been £5572 per month. July figures account for £4594 income.
However expenditure is still the WEE’s biggest enemy with costs accrued during the same time period amounting to £57,775. July figures alone show expenditure of £12,124., more than double the income.
Once again, although the box office receipts are detailed in full, the amount paid out to performers and agents providing the acts is not included as a WEE expenditure because that money comes from a different bank account, meaning that WEE expenditure is actually worse than claimed. The devil is not in the detail when it comes to WEE accountancy methods.
However, if these figures are used to project income for the rest of the financial year the WEE could be looking at an income of £66,867 for the full 12 months, which would be on a par with the month 11 income for 2022/23 which showed an amount of £46,642 before the record-breaking month 12 income of £59,661 increased that figure overnight to a claimed income of £106,303 for the year, with no explanation for the increase whatsoever.
Expenditure could similarly be expected to be in the region of £173,325, but is likely to be a lot more as no salary has been paid to a Smalltown Culture and Arts Manager or a Smalltown Culture and Arts Media Person during this period.
The final expenditure figure for 2022/23 was actually £196,949 (£16,412 spent per month), although the full SCAM salary wasn’t included in that figure either. If we were to project that WEE expenditure is likely to be a minimum of £20,000 per month against income of £5,000, for every month it remains in the hands of the WEE Mismanagement Committee it is likely to make a loss of £15,000.
Therefore the WEE budget for next year will likely require a SaD Town Council subsidy of another £180,000 of council tax payer money to cover the costs.
SomersetClive wonders how long it will be before the WEE Mismanagement Committee start bleating about how they “Only need another year to turn the WEE’s fortunes around’. Next year will definitely be the year when the WEE won’t need a huge subsidy.”.