Treasurer’s Report - Cycling Action Network

Year Ending: June 30th, 2023

Dear Members and Supporters,

I am pleased to present the Treasurer’s Report for Cycling Action Network for the year ending June 30th, 2023.

Financial Overview:

Overall there have been few major changes to CAN’s operation in this financial year. There has been increased revenue through the Share the Road program due to contracts with major infrastructure companies.

Income Sources:

CAN is largely funded by donations and membership subscriptions. While there has been a small drop in donations overall compared to the previous financial year there has been little change to these amounts.

Securing funding through increased donations, membership subscriptions and grants remains a challenge for CAN.

Expenditures:

Expenses for CAN have decreased slightly since the previous financial year. This is in a large part through the generous support of the Sustainability Trust in providing reduced rent for Patrick’s office space.

Future Financial Goals:

Moving forward, income will need to be increased to support CAN’s continued advocacy for people on cycles. This will include:

• Securing funding for website rebuild.
• Increasing membership numbers/revenue.
• Increasing donation revenue.

Membership proves challenging with some affiliates moving to manage membership subscriptions themselves; this will require the incoming board to consider if the current membership subscription process is the best way to maintain memberships in the future.

Acknowledgments:

I extend my deepest appreciation to all our members, donors, volunteers, and staff for their unwavering support and dedication.

Sincerely,

Geoffrey Sugden

Treasurer, Cycling Action Network