Treasurer’s report

BIG's seemingly healthy financial position conceals a number of hidden subsidies that reduce expenditure significantly.

Expenditure in 1999 was reduced by the fact that there was no fabricators' event, no membership directory, and only 3 newsletters. If these had been delivered BIG is unlikely to have made a surplus in 1999.

Auditor's report
The Finance Manager for Birmingham City Museums audited the 1998 Accounts. She made several suggestions to improve bookkeeping and these are being implemented. Her recommendations included:

1. A standardised invoice should be produced.
2. No expenses should be paid from cash income, and a separate cash account should be maintained. This system has not yet been introduced. Apart from at the BIG Event, it is probably neither practical nor necessary at present. However, all event organisers should recognise the need to identify separately all cash transactions in their accounts.
3. No payments should be made without proper invoices or receipts.
4. The BIG Committee should develop a policy for spending surpluses generated to put to the members for approval.

Since the audit, steps have been taken to improve record keeping, but further work is necessary to implement fully the auditor's recommendations.

Treasurer's recommendations

BIG should adopt a formal development plan for 2000 to spend some of its surpluses. It was agreed at the BIG Committee meeting in December that it would be prudent to keep a minimum reserve of £5,000.

Membership fees should be increased to reflect the true costs of the benefits, and to provide protection should BIG lose its subsidies in the future.

The implementation of the development plan should help to increase membership, which together with increased income from fees, should consolidate BIG's financial position, and enable it to implement further development plans in the future.

Tim Caulton

Newsletter Spring 2000 Contents

New exhibitions > Opening dates for UK exhibitions | New Yorkshire Centre | Young builders | Number exhibition | What's wrong with the Millennium Dome?

News > Canadian Director for Eureka | Design in education Week | The 'Race against time' show pack | Indo-UK Science Festival | From the editor | From the chair

BIG Annual Report 1999 > Chair's Report | Treasurers Report | Membership Report