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Re: Re funding needing.

Posted by M on July 29, 2006 at 21:57:53:

In Reply to: Re funding needing. posted by MM on July 29, 2006 at 19:58:45:

We have approached the Town Council and we are currently in negotiations with them - they have been encouraging.

At present all funds go into the account for Castlebar Server Project Ltd., the limited company which is responsible for the website finances and under which it has operated since 1999 when funding was received from the Information Age Town Project.

Obviously public accounts are published for all to see as is the case for all limited companies. Unfortunately our accountants say that the limited company cannot continue to trade because it does not generate any profits. Obviously as a voluntary concern profits were never a high priority - the idea was always simply to cover operating costs.

At this point, however, the limited company is a millstone - the costs associated with the accountancy aspect - closing down, annual accounts etc., are quite considerable - a major proportion of total income and costs each year. The advertisements in national daily papers that are legally required by CRO are incredibly expensive but essential in order to close the company down. Once the company is closed towards the end of the year a new bank account will be established all going well. At this point, however, there is a grave possibility that the site will simply cease to exist. We will post the bank account number in addition to the paypal donation button for those who wish to contribute directly to the Castlebar Server Project Ltd. account here in Castlebar.

We will be offering castlebar email addresses to all those who contribute to the site.

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