Last year due to the Sudden Loss of Rob Milne it was very difficult to pick up the pieces accounts wise, and when I did the year end accounts in May it was difficult to reconcile the carry forward figures with those figures that we had proved were actually in the bank.
If you refer to the printout supplied for the last financial year you will see that we collected £49611.42 and expended £44354.85 thus making a total profit during the year of £10970.65.
If you also refer to the accounts for AI-2005 you will see we made a loss of £3501.72 but I was very strict in allocating the full travel costs to those sub accounts. We are also still waiting on £500 sponsorship for the application prize from BCS headquarters
The profit of £10970.65 was distorted by having a VAT refund of £4696.78 which obliviously cannot be relied on as annual income and the one off payment from IJCAI of £6530.39. At this time the IJCAI accounts have still not been finalised but in we hope to get at least £10,000 as the worse case scenario, hopefully more.
The membership figure is inflated in 2005/6 as people were changing to standing orders, so at least 25% of the membership figure was paid twice in 2005/6 for the current year 2006/7 we have currently received £666 in membership renewals.
The balance at the bank on Friday 8th December was £29947.62 which consists mainly of registration fees to date, looking at the printout of accounts currently you will see we have received £25169.23 with at the time of writing approx six payments in the system but not yet cleared, which compares favourably with the total figure last year of £24438.66 (however last years fig was ex – vat which had been paid by Liverpool university as they processed the credit card payments. (Emergency measures because of Rob’s untimely death) and this year we will have to allocate 17.5% for VAT.
We have approximately £9000 in reserves although I am still waiting for BCS HQ to provide an up to date record for that account.
All in all the group is in financial stable situation.
BCS SGAI Treasurer Sunday, 10 December 2006