GENERAL TREASURER’S REPORT

I have pleasure in presenting my report and accounts of the Central Fund and Central Fund Reserve Account for the year ended 31st December 1998.

For the second year running the income into the Central Funds has decreased and as can be seen from the figures the major decrease has been in the District subscriptions received in 1998 representing the 1997 membership fees. There was, for 1997 a significant decrease in members effecting all but the Channel Islands district.

Expenditure is much in line with 1997 the only significant increase being in the Public Liability insurance as our insurers asked for an up to date number of Guild members and this resulted in an increased premium.

From our funds we have spent £1,705 on “Ring in 2000” activities. Added to this a number of Districts agreed to contribute £100 to the costs. We also received a donation towards the cost of the “Ring in 2000” leaflets, by way of a reduction from the printers in the cost of production. All of this expenditure has depleted our funds.

It was necessary for me to recommend to the Guild AGM a modest increase in subscriptions. As mentioned during the debate this increase will enable us to replenish our funds. Furthermore a large number of Guild members give their time and services free of charge. There may be other members who perhaps cannot afford to give their services free. Extra funds available may perhaps encourage them to participate knowing they can claim reasonable expenses.

The new Guild subscription came into force immediately after the close of the AGM. I am asked why this takes two years to show in these Central Fund accounts. The 1999 subscriptions are paid to the District by 30th June 1999. Guild rules then state that the proportion due to the Central fund are payable by the 28th February after the District’s ADM.

Total financial assets held by the Guild are as follows:-