TRAVELBAGS has reported a R185 000 deficit for the 2017 financial year, attributed to a decline in membership, increased spending and ‘administration problems’. This was revealed in the minutes from the association’s
July 10, 2018 AGM, circulated to members on June 3, 2019. The minutes read: “Deficit of R185 000 for the year – this is due to administration problems (no access to information) and less membership and more spending on Travelbags’ side.” TNW contacted president,
Michelle Hinrichsen on June 10 and she confirmed that part of the deficit was unaccounted for. She later retracted the comment and told TNW that the association had subsequently had a discussion with its accountant who confirmed that there was a loss of R185 000, which can all be accounted for via the Travelbags bank accounts. The matter would be discussed at the association’s AGM on July 3, she said. “Our accountant will be present at the AGM on July 3 and any member who has a question or would like to interrogate the financial report may do so on the day,” said Michelle. She said Travelbags had spent 63,5% more in 2017 on charity than it had in 2016, adding that the club was philanthropic in nature and its main aim was to support welfare, not to gain profits. “There was a debtors’ list
amounting to +/- R80 000,” she said for outstanding lunch and event tickets not paid. According to the 2018 AGM minutes, members and the committee decided that no one would be allowed to a lunch if their tickets were not paid in full. Michelle told TNW that the club had had a deficit since 2016. She said the deficit for 2018 was roughly R30 000 and there was a revenue loss of R140 000 in 2018. “This is due to lack of support for the Travelbags events, and lunches.” Membership income declined from R122 308 in 2016 to R44 800 in 2017, but increased to R83 475 in 2018. To drive future revenue, the club will be running membership drives, and offering different events to increase attendance. “This is all to be discussed at the 2019 AGM before sign-off of the financials.”
