TREASURERS REPORT on 2001 Accounts
BIMM February 2002
Please see attached spreadsheet for breakdown.
As you see there is some change in the format this year on the expenditure
side as Deena has been able to give more detail with this area becoming
more complex with the growth of the organisation. The overall figures
can be compared directly.
show a rise from £18,685 to £20,637
Course and meeting fees rise from £27,278 to £40,288 (1999 £21,253)
largely due to increase in sponsorship.
Income from assets: transfers were less at £10,535 (£11,511 for 2000)
and we have not had to use any of the COIF deposit account this year
(shown in cash balance)
Total receipts were £71,541 vs £57,474(2000) and £41,047(1999)
Course and meeting expenses increased to £25,461 from £24,526 in 2000
(£13,789 1999); other direct charitable expenditure roughly equivalent.
Other expenditure shows a fairly steep rise from £33,527 to £41,079 (in 1999
was £23,622) and this is largely responsible for the increase in total
payments from £62,695 to £71,677 (1999 was £40,928)
Cash funds are up a little largely due to good current account balance at end
of 2001 (prior to expenditure on courses and meetings), and I have
managed to avoid spending money from the COIF deposit account.
Investments show a significant drop due to spending £9,000 and the subsequent fall
in the stock market in September 2001 but the share values have recovered somewhat since.
2001 has followed a similar pattern to 2000 with increasing expenditure which
although partly offset by increasing income, particularly with
sponsorship for meetings and courses, has still meant that we have had
to liquidate investments to the value of £9,000. This is slightly less
than the figure I predicted this time last year but is still not a
desirable thing in the long term.
The increase in expenditure has been due to increased activity of the
organisation, in particular Deena Harris efforts and it is largely
thanks to her that the income from sponsorship has risen significantly
so that we have made an overall profit on courses and meetings.
Unfortunately, that trend may not continue as Shire have withdrawn much of the promised
sponsorship for the modular course which now looks set to run at a
significant loss and the recent Annual Symposium in December ran at a
loss of £3,000 which was split with SOM. These figures do not appear in
the 2001 accounts, as they are expenses incurred in this financial year.
We must expect the current trends to continue and cannot rely on
sponsorship to bail us out. It is imperative that those organising
meetings and courses reduce the risk element by getting as much
sponsorship as possible, setting course fees at a reasonable level and
keeping a close eye on costs. I was pleased to see detailed planning for
the next annual symposium to make the chances of another significant
The running costs of the organisation are continuing to rise and we cannot
simply stop this without jeopardising our activities and success. The
organisation can no longer be run on a shoestring budget and we cannot
go back to the days of council members running the organisation in the
back room of their clinical offices, largely on good will.
I think that we need to increase our income to at least cover this side of
the operation without having to dip further into our investments, which
are only likely to last another 3-4 years at this rate of expenditure.
I think that it is reasonable to expect courses and meetings to at least
break even, so we need to raise approximately £10,000 a year to keep
within our current budget.
If we have 360 members and this number remains constant then that implies
an average increase of £10,000/360=£28 per member subscriptions.
I therefore propose an increase of £30 on all subscription levels and a
change to direct debiting to ease administration in future. It is also
worth investigating a change to annual subscription date, again to ease
administration, as despite my plea last year Deena still has to spend a
lot of time chasing people up, and many subscriptions are still being
paid at the old rates.
If we do not increase our income by at least the amount indicated above
then the organisation will fail financially within the next 5 years, or
have to consider other unpalatable options such as merger or greatly
downsizing our activities.
Dr Simon Harley Hon.