In the first instance, the money is invested. Currently, this is with accounts held at the Teachers Building Society, based in Wimborne: whilst the rate of interest is not very high, the capital is protected. We make some modest donations to local charities each year and these are announced at the AGM. We also become involved in funding ad hoc projects such as the Play Park in Cliff Drive and the refurbishment of the zig zag Path down to the Promenade. Whilst the Society does not normally pay tax, we do have to keep a reserve to cover a potential liability to tax in the event that the Society is wound up.
