Honorary Treasurerâs Report Sisters and Brothers, it is with pleasure that I present to the Annual General Meeting 2022 the Financial Statements for the financial year ending November 30, 2021.
The Year in Review The present leadership continues to be optimistic about the future of this noble organization. We will continue to move âfrom surviving to thrivingâ as we continue to be persistent and consistent in serving our members. The JCSA continues to strengthen its strategic priorities to respond to the membership needs by providing services that will improve the quality of their lives while significantly improving memberâs satisfaction and confidence in the organization. Some of the achievements include increasing the staff complement by three (3) during the period. These team members were deployed to various areas to improve the services offered in the Member Service and MiniMart. Staff was also deployed to one of the Regional offices to ensure our members outside of Kingston and St. Andrew, were properly served. The renovation of the JACISERA Park continues to provide comfort and safety for our members, staff and visitors alike. However, plans to transform the JACISERA Park into an income stream for the organization will continue into the next financial year.
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I am extremely happy to report that the second COHORT for the Professional Certificate in Industrial Relations (PCIR) course for General Council concluded on April 2022. It is expected that the recipients will use the knowledge gained in the day to day representation of our members. This will be a milestone that will be celebrated in the 2nd century. The MiniMart continues to operate Mondays to Fridays at 31 Molynes Road, Kingston 10 and 44 Thompson Street, Montego Bay, St James. Our Montego location is the newest of our MiniMarts. Members continues to receive goods at cost with a further 15% discount. We implore all our members to continue to access this benefit.
Financial Performance Revenues grew by $25,818,914.00 or 11.76% for the year under review. This growth was influenced by the increase in Subscription and proceeds of $4, 099,000.00 from the Raffle competition. Subscription income was increased by $23,015,146.00 or 10.52%% during the period. The overall expenses increased by $59,603,543.00 or 35.28%. There was a significant increase for Salaries, Wages and Related Expenses. This expense was increased by $26,947,386.00 or 24.21%. This was attributable to the increase in the staff compliment. This action was inevitable as 2021/2022 Annual Report
