2015 Final Accounts
These are the final accounts for 2015, as presented in the AGM order paper for Birmingham. The Treasurers report to the AGM is also repeated below, and should be read in conjunction with the financial statements.
If you have any questions or queries, drop me a line and I will try to answer them before the AGM to save time there. You can find those already asked at the foot of this page.
The 2015 Accounts have been finalised and approved by our independent examiners, Duncan & Toplis.
I’ve listed below some narrative by budget head on the variances this year, which should be read in conjunction with the accounts themselves.
Capitation fees are down by £12k. I have included capitation debtors where they have paid since 31st December or promised to pay when chased by Marchesi House. Those that have not responded I have made no provision for, assuming they will disaffiliate.
Sales profit is down on budget, as we now rely most on commission rather than profit on stock we hold. The return is less, but we are less exposed to stock write-offs.
Advertising income was zero again, this budget is removed in 2016.
Although insignificant in the grand scale of things, the other income is from a single member who has registered with Utility Warehouse. If we could get a third of our members to do likewise, our subs could be reduced to £1.
IT Systems – the I & E shows a large underspend of £7k, however we actually spent slightly more (£663) than the budget in total on IT. In keeping with previous years, spend on IT development of £7,520 was capitalised. Note that most of the development spend was in the first 3 months of the year, prior to the Harrogate AGM. Since then, National Council have approved some small items of expenditure to ensure that the links between CAS and the Website can be properly maintained. These total £2,416.
AGM budget was overspent by nearly £2k. I think the time has come to look at holding them in a less prestigious venue. £9k spent with an attendance of perhaps 300 people, that’s £30 per delegate.
Presidents expenses overall (home, overseas and car) are under by £1,374. Normally the car would be funded from the reserve set up a few years ago, however there has been no need to this year.
International Officers expenses are under by £1k. Following the budget review in the summer Dave has curtailed his plans and reduced his spend.
41 International subscriptions have now been invoiced and paid, but I have not adjusted the accounts for the converted cost as the accounts had already been sent off. The difference was £28.79 in our favour.
The International HYM produced a surplus of just over £1,400. A provision was made to charge £2,700 of costs to the President’s account, in lieu of the expenses he would normally incur for this event. Only £1,048.70 of this provision was charged to President’s expenses, for the cost of the International President and their Boards refreshments at the HYM itself.
The final cost to the association of the 70th Anniversary was £4,377. We had agreed a contribution from National of £1k, so the net loss was £3,377. The shortfall was due to the low take-up by members or the over-optimistic expectations of the organisers, depending on which stance you take. Either way, we can’t change the past, I’m sure any future anniversary events will be mindful of the lessons learned.
Magazine printing is underspent by just over £4k. With more members opting for online rather than a physical magazine, the postage costs are dropping quicker than Royal mail can raise their prices.
Council Meeting costs are underspent by nearly £5k. Two meetings in Birmingham (February and September) have helped to reduce travel costs for councillors.
Board meeting costs are down nearly 50%, despite having an extra, albeit virtual, meeting this year. Better use of this technology should mean we could save most of this budget.
Club visits by Councillors shows a similar saving. This either means that councillors aren’t making the visits or they aren’t claiming for them when they do. I suspect it is a combination of the two.
Insurance costs shows a small underspend this year of just under £1k
Gifts & Awards budget is less than 50% spent. This is due to most of the Harrogate conference team foregoing their medals.
Depreciation is double the budgeted figure, although we have known this will be the case since the start of the year, due to the capitalisation of the 2015 IT Development.
The membership budget has absorbed the cost of the forum which was voted on in Harrogate. The actual cost came to just over £1300. This budget would otherwise have been underspent.
So the overall position is showing a £6k surplus on the year, against a budgeted £3k deficit.
Questions already asked
Non yet - now there's a challenge :)