Treasurer's Report for the Financial Year 2011

Treasurer’s Report for the Financial Year 2011

There have been significant changes in our income and expenditure for the year but our overall financial position is sound.

We received no capitation during 2011 (£1724 in 2010) or income from Umbrella (£1222.52 in 2010). Income from seminar fees was also slightly down. There was no Anthony Thompson Fund award made in 2011 so with no expenses the balance of the fund remains at £10,881.41. There has also been no call on the Emergency Fund and the balance at the year end is £186.99. The receipts for the Quiz of £90.00 did not reach the bank account until 2012 and will appear in the 2012 accounts. Postage and printing costs of Focus have increased. We have increased the cover price for 2012 and sales income makes a significant contribution to the overall cost but the position needs to be kept under review. Dollar and Euro denominated sales provide a significant additional margin over the Sterling price. The one conference run in 2011 incurred a slight loss, largely as a result of additional travel expenses.

The figures in the Profit & Loss comparison are exclusive of VAT. Our significant VAT liability to CILIP was paid off during 2011.

Our net core expenditure is assessed as £4350 and our unrestricted funds total £9428 giving available unrestricted reserves of £5078. This is still in excess of CILIP recommendations.

By the end of March 2012 CILIP will be centralising all Branch and Group bank accounts and by the end of May all accounting will be centralised. The exact mechanism for implementing these changes is not yet known.

Norman Briggs,

February 2012