British APL Association: Summary of Annual Accounts

Transcribed from the printed issue; not yet reviewed. Read it in the PDF of the issue, page 8

Notes to the Accounts¶

1. The pence figures have been omitted, so columns may not add exactly.
2. Debtors are mainly advertising and subscriptions.
3. Creditors are mainly advance subscriptions, unpaid bills, and VAT.
4. The value of stocks of Vector and the Software Library have not been assessed.

Treasurer’s Remarks on the Annual Accounts.¶

The Association’s overall bank balance has increased over the last two years. As the assets summary shows, this is largely the result of a substantial decrease in the level of outstanding debts, chiefly advertising revenue. Payments for advertising may now be considered to be up to date, so this will not be a factor in future. However, advertising revenue will continue to fall because the number of advertisements placed in Vector has halved over the last two years. This may be due in part to failure to meet publication schedules - advertisers please note that Vector now regularly appears on time!

High interest rates have contributed significantly to income recently, but can be expected to be less important in the present financial year.

Administration costs were higher in 1990/91 only because of exceptional costs incurred in sorting out the accounts for 1989/90, and may be expected to fall.

Following the change of venue from the Royal Overseas League to the IEE, there has been a considerable reduction in the cost of meetings and there will be a further reduction in the annual cost of meetings this year.

As has been explained elsewhere, the increase in subscription rates approved at the extraordinary general meeting in March was proposed by the committee so that running costs would be met by subscriptions and advertising revenue, leaving our reserves to be available to spend on projects that will promote the use of APL or otherwise benefit the APL community. The committee would welcome suggestions for suitable projects.