Report of the Branch Treasurer - for Annual General Meeting - 15 Mar 06

The Branch Treasurer for the year 2005 / 06 was Dave Parsons and the Assistant Branch Treasurer was Mike Dunstone.

The Branch Auditors were David Hinchliffe and John Goldfinch.

The financial details attached are an interim statement as they have not been finally confirmed by the Auditors. However, although the position in the returns of monies may alter the overall totals, as shown on the balance sheet are expected to remain as they are subject to the inclusion in final statements of creditor / debtor details.

Branch Balances as of 31 Dec 05 and Income / Expenditure for 2005 were shown on separate sheets (not shown here).

The Branch finances are very healthy and put the Branch in a good position to fund the battles that clearly lie ahead in the next year, and the years following.

However, it will be important to ensure that a continuing reserve is maintained as our commitments are liable to change during the year. It is recommended that reserves should not fall below £30,000 in order to be able to meet unforeseen obligations.

Overall the Branch made an 'Operating Profit' of £8,000 over the year and this is likely to contribute positively to Branch developments that are proposed by the Executive Committee.

The bulk of current account expenditure was on administration; however this was at the same level as for the last two years.

The expenditure on Branch meetings was considerably higher than for 2004 (+50%) and this will need to be carefully monitored although it does show a healthy increase in activity by Branch members.

Expenditure on Publicity was less than last year, although this figure does not include the cost of the Diversity publication which is included in the Local Action Fund expenditure.

The amount spent on Education was the same as for last year.

Expenditure on National Conference was also nearly 50% higher this year and this reflects the increasing commitment of the Branch to become involved at the National level. It should be noted that the travelling expense associated with these conferences are reclaimable.

The Welfare Fund is marginally lower than last year which reflects a small number of local grants to members in need which would not be considered by National Welfare.

The payments of honoraria are due to be revised in the near future by the Branch Finance and General Purposes Committee.

The Branch Executive has recommended the following Honoraria for last year:

Branch Treasurer - £3,650
Assistant Branch Treasurer - £500
Auditors (x2) - £500
Assistant Branch Secretary - £500