EC Meeting Papers January 2018

GFTU Management Accounts YTD Nov 2017

Budget YTD Nov 17

Actual YTD Nov 17

Variance

Notes

Income source

Accounts Processing Services

43,083 33,477 16,738 146,667

40,659 29,629 14,400 192,227

(2,424) For shared services provided

Recharge for services provided- QGH Recharge for services provided- QGN

(3,848) Recharge for services provided- QGH: Monthly Wendy, Ian & Nila charges (2,338) Recharge for services provided- QGN: Monthly Wendy, Ian & Nila charges

45,560 Contribution is for full year.

Contributions

Sponsorship/Commission

-

0

-

Investment Income -TU Unit Trusts Investment Income- Zeneca Investment Income- RBS Investment Income- Unity Trust

11,000

80,465

69,465 Dividends: £21,715, Sold all shares & Made profit of £58,750

3,208

8,986

5,778 Dividends

- -

-

1,321

1,321 Dividends

For period Jan-Sep 2017 :- BM 198k gain, CAM: 124k gain, Dividends: 76k & charges (48k)

Managed Investment Income BM & CAM Managed Investment Income Credit Suisse

229,167

350,000

120,833

- -

- -

Bank Interest Received

Misc Income- intercompany recharge

9,167

(9,167)

Gift Aid-GFTU Gift Aid- Albion Gift Aid-QGH

- - - -

- - - -

Customised Course Fees

Invoices raised to delegate's for hotel exps @ BGCM & invoices for raffles & auction @ BGCM

Union Confenrance Building/ BGCM Grant/Arts Festival/Spon'ship/Project

- -

8,961

8,961

-

Credit note raised to PPF £2,501, Income Charity account £75, Oclan book 50, TC branding commsion £600 & Donation £50, £139 from books, £300 recovery accounts examine

Other Income

- -

(1,163)

(1,163)

Extra Ordinary Income

Total income

492,507

725,485

232,978

Expenditure Staffing Salary

89,340 33,213

118,315 36,287

28,975 Staff salaries have been split between GFTU & ET

Salary for shared Service

3,075 9,255

Pension

- -

9,255

Redundancy & Severance

-

-

Staff Welfare

788

1,227 4,125 1,436

439

Essential Car user Allowance

4,125 1,375

-

Staff Travel and Subs

61

Staff Travel shared Service

-

-

-

GS Travel HOE Travel

1,008

1,544

536

-

-

-

Other employment costs Training and development

458

184

(275)

- -

-

Agency

1,194

1,194

Pensions Recovery Payments

64,167

-

(64,167)

Pension Scheme Cost

- -

- -

Pension prior year adjustment

Total

194,475

173,568

(20,906)

Premises Rent and Rates

275

1,987

1,712

Repair and maintenance

92

432

340

Utilities

733

1,910

1,177

Health and Safety

-

598

Fire Risk Assessments / Fire Marshal Training (28 Delegates) in Jan 17

Insurance

458

( 1,621 )

(2,079) Insurance recharge to PCS members

Depreciation

6,600

5,349

(1,251)

-

Total

8,158

8,655

497

Administration Stationery, Postage Courier & delivery cost Telephone & mobile IT, website, maintainence

1,467

228

(1,239)

-

642

792

150

4,279 Sage monthly fee, Tony Jonson fee, Domain renewal fee

2,750 1,833

7,029 2,676

843 Used KM Bizhub 654 Mono Copier charge

Printing & Copying Office relocation

- -

Total

6,692

10,725

4,034

Management fees Executive Committee Expenses Conference expenses (BGCM/EC)

(5,292) EC Members - Rail Fare + Parking + Mileage +Fixed Expense Allowance

15,583 16,500

10,291 36,358

19,858 BGCM expenses