EC PAPERS NOVEMBER 2017

GFTU Management Accounts YTD Oct 2017

Budget YTD Oct 17

Actual YTD Oct 17

Variance

Notes

Income source

Accounts Processing Services

39,167 30,433 15,217 133,333

36,808 27,417 12,600 192,227

(2,358) For shared services provided

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

(3,016) Recharge for services provided- QGH: Monthly Wendy, Ian & Nila charges (2,617) Recharge for services provided- QGN: Monthly Wendy, Ian & Nila charges

58,893 Contribution is for full year.

Contributions

Sponsorship/Commission

-

0

-

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

10,000

80,465

70,465 Dividends: £21,715, Sold all shares & Made profit of £58,750

2,917

8,986

6,069 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

208,333

350,000

141,667

- -

- -

Bank Interest Received

Misc Income- intercompany recharge

8,333

(8,333)

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

- -

9,266

9,266

-

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

447,733

717,928

270,194

Expenditure Staffing Salary

81,218 30,193

106,634 31,872

25,416 Staff salaries have been split between GFTU & ET

Salary for shared Service

1,678 8,154

Pension

- -

8,154

Redundancy & Severance

-

-

Staff Welfare

717

1,117 3,750 1,207

400

Essential Car user Allowance

3,750 1,250

-

Staff Travel and Subs

(43)

Staff Travel shared Service

-

-

-

GS Travel HOE Travel

917

1,544

628

-

- -

-

Other employment costs Training and development

417

(417)

- -

-

Agency

753

753

Pensions Recovery Payments

58,333

-

(58,333)

Pension Scheme Cost

- -

- -

Pension prior year adjustment

Total

176,795

155,031

(21,764)

Premises Rent and Rates

250

1,739

1,489

Repair and maintenance

83

432

349

Utilities

667

1,910 1,298

1,243

Health and Safety

-

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

Insurance

417

( 1,621 )

(2,037) Insurance recharge to PCS members

Depreciation

6,000

4,863

(1,138)

-

Total

7,417

8,621

1,204

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

1,333

156

(1,177)

-

583

720

137

1,386 Sage monthly fee, Tony Jonson fee, Domain renewal fee

2,500 1,667

3,886 2,676

1,010 Used KM Bizhub 654 Mono Copier charge

Printing & Copying Office relocation

- -

Total

6,083

7,439

1,356

Management fees Executive Committee Expenses

(8,719) EC Members - Rail Fare + Parking + Mileage +Fixed Expense Allowance

14,167

5,448