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In Summer 2023 the Committee reviewed the pricing policy to ensure it reflected established
practice. Through this policy members should be able to understand exactly how the money they
are paying for an Event is being used.
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These policy guidelines should act as a reference point for all budgeting. Events include
official (not DIY) weekends, socials and coach based walks.
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Events are typically priced to cover all expenses with zero surplus. This is due to the
healthy financial situation of the group.
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The existing surplus together with any further surplus is used to pay for deposits for Events
in advance of receipt of funds from attendees. The built-up surplus also provides a buffer to
cover any losses as a result of, for example, Events not reaching their target attendance
level.
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If a specific Event results in a sizeable surplus then the Committee may consider refunding
the surplus to attendees.
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If an overall, sizeable surplus builds up then the Committee may decide to use some of this
surplus as a subsidy against future high attendance Events (e.g. AGM, Christmas Party etc.).
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All financial records of the group accounts are accessible by any fully paid up member of MAD
Walkers at any time. Requests for specific accounts should be submitted to the Treasurer,
copying in the Chair.
- All payments require approval by two signatories.
- Guidance when planning the budget for an Event:
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Please clearly separate items in the budget table: e.g. number of places, income,
accommodation, food, alcohol, public transport, entry fees, vehicle hire, fuel, prizes, maps,
equipment hire, others
- We do not encourage the inclusion of alcohol in per head costs.
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Any material items (e.g. maps) specified in the budget should be transferred into the group
inventory after the Event.
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All Event budgets must be brought to the attention of the relevant Coordinator who will assess
the budget and provide advice before the Event is opened for booking.
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The budget will be approved by the relevant Coordinator, with advice from the Treasurer or
whole Committee if needed.
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BACS payment references should be agreed beforehand with the Treasurer. This helps to provide
traceability of transactions and auditability of the accounts. Please use the correct payment
references.
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All outgoing transactions require a receipt or invoice (marked paid in full) before
reimbursement can take place.
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Final surplus/loss be included in the Treasurer reports. Any loss will be covered by the
group. Should any loss excess £200, the Committee will formally approve such reimbursement.
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Policy to be reviewed by the committee annually or earlier if required. Next review due on or
before 30.06.2024
