The financial performance of the group was satisfactory over the past year. According to the official BCS accounts, the group made a modest loss of £2,590.11 for the year. The group still has considerable reserves and the modest loss will not affect our ability to carry on our programs in the future. [Click here for a copy of the accounts as an Excel 2000 spreadsheet.]
The overall income and expenditure for the past year is very similar to previous years. ES2000 was successful and covered its costs. The program of evening meetings was continued, but with slightly higher expenditure than previous years. Although the BCS accounts lump all our expenditure into Events, this actually includes normal levels of expenditure for committee meeting travel, administration support, expert update, member mailing and our web domain name fee.
The group continues to reduce its operating costs. The committee meetings are held at the BCS office in London, saving on a room hire costs. We have recently moved our membership processing to the BCS which will significantly reduce our membership administration costs. This also permits us to accept credit cards for membership, which should help to make membership renewals more simple.
For the current financial year 2001/2002, we are on track for a break even year, depending on the financial outcome of ES 2001.