10

with ongoing excellence. Currently Samantha MacDonald, Megan Carroll,
Sarah Belley, and Dawn Haryett keep things humming. The donated ‘Z’ mug
program generated an astounding $ 4000.00+ towards the lighting fund.
Thank you to all those who donated mugs and to those who made other
separate donations.

The actual installation costs are higher then expected but, aiming to continue
the forward momentum, the new lighting will be installed and the cost
amortized across a year.

50" Anniversary
After a slow start, activities are moving forward on several fronts. The main

exhibition at will be Making History at Burnaby Art Gallery Aug 8th - Sept 11th.
We hope we can also have it travel to the Interior and Vancouver Island, even
if that is in 2006. In addition there will be a “BC in a Box” traveling show of
small pieces and a host of related activities and publications.

Treasurer’s Report
It is a pleasure to report upon our stellar performance in 2003. Not only did

we achieve an outstanding profit for the year of $28,914, but we also finalized
the financial statements for 2001 and 2002. We are now in good standing with
the Ministry of Finance under the Society Act. Further, we ended 2003 with
$39,319 in our bank account, versus a loan of $18,896 at the end of 2002. Of
course, bank balances fluctuate significantly from one month to another but
cash flow has remained very favourable.

As our President has stated, Gallery sales were at the highest level in its
history. Gallery revenue in 2003 was $308,000 versus $268,000 (rounded) in
2002, an increase of 14.9%. Gallery expenses (exclusive of Cost of Goods
Sold) remained virtually unchanged from last year if we eliminate the $7,526
in amortization in 2003 which represented three year’s write-down. Gallery
Income for the year was $16,757 versus a loss of $11,531 in 2002.

Member Services Net Income for 2003 was $12,000 (rounded) versus a loss of
$3,000 in 2002. Membership revenue increased by nearly $3,000.

Plan for 2004 anticipates Net Income of $17,000. This is a decline from 2003,
but, nonetheless, a very healthy situation. In 2003 the Northwest Ceramic
Foundation sponsored Gallery exhibitions by $6,229; this will not be repeated
in the current year. 2003 saw the revival of shard sales and generated over
$4,000 in net income - this event has been repeated this year.

It is gratifying to work with such a committed and knowledgeable board. It is
also reassuring to hand over the reins of Treasurer knowing that our financial
situation is in great health!

Potters Guild of British Columbia Newsletter June 2004