EC Papers September 2018

GFTU Management Accounts YTD Jul 2018

GFTU Budget Full Year 2018

Budget YTD Jul 18

Actual YTD Jul 18

Variance YTD Jul 18

Budget left to spend / achieve for the year

Notes

Income source Accounts Processing Services

109,700 42,000

63,992 24,500

41,836 16,657

(22,156) (7,843)

67,864 25,343 (5,400)

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

0

-

5,400

5,400

Contributions

194,500 194,500

195,434

934

(934)

Sponsorship/Commission

0

- -

- -

- -

- -

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

8,000

4,667

2,672

(1,995)

5,328

-

-

-

-

4,000

2,333

55,058

52,725

(51,058) Profit on Sale of Unquoted Investments

As at end of Jul 18, market value of investments show gain of £160k (unrealised)

Managed Investment Income BM & CAM

215,000 125,417

160,053

34,636

54,947

Bank Interest Received

- - - - - - - -

- - - - - -

- - - - - -

- - - - - -

Misc Income- intercompany recharge

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

Customised Course Fees

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

6,875

6,875

(6,875)

-

-

-

Other Income

12,000

7,000

1,743

(5,257)

10,257

Extra Ordinary Income

-

-

Total income

585,200

422,408

485,728

63,320

99,472

Expenditure Staffing Salary And NIC

156,607

91,354

78,683

(12,671)

77,924 Staff salaries have been split between GFTU & ET

Salary for shared Service

-

-

-

-

Pension

13,010

7,589

15,921

8,331

(2,911)

Redundancy & Severance

-

-

-

-

Staff Welfare

860

502

428

(73)

432

Essential Car user Allowance

1,828 2,000

1,066 1,167

2,625 1,172

1,559

(797)

Staff Travel and Subs

5

828

Staff Travel shared Service

-

-

-

-

GS Travel HOE Travel

1,500

875

1,843

968

(343)

-

- - -

-

-

Other employment costs Training and development

800

467

(467)

800

- -

-

-

Agency

1,194

1,194

(1,194) 69,965

Pensions Recovery Payments

70,000

40,833

35

(40,798)

Pension Scheme Cost

- -

- -

- -

- -

Pension prior year adjustment

Total

246,605

143,853

101,901

(41,952)

144,704

Premises Rent and Rates

300 250 800

175 146 467

497

322

(197)

Repair and maintenance

-

(146)

250

Utilities

1,179

712

(379)

Health and Safety

-

-

-

Insurance

500

292

564

272

(64)

Depreciation

7,500

4,375

2,728

(1,647)

4,772

(472) Nursery Fees

Cleaning

-

472

472

Total

9,350

5,454

5,440

(15)

3,910

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

1,600

933

2,170

1,237

(570)

-

-

-

700

408

216

(192)

484

4,000 2,000

2,333 1,167

8,425 2,320

6,091 1,153

(4,425)

Printing & Copying Office relocation

(320)

- -

- -

- -

Total

8,300

4,842

13,131

8,289

(4,831)

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

2,000

1,167 7,438 1,750

7,172

6,005

(5,172) 12,750 (8,011)

12,750

-

(7,438)

3,000

11,011

9,261

Accountancy and audit

8,500

4,958

19,502

14,544

(11,002) £12k in the month for 2 x Sturgess invoices for examining the Trust & Company's records

Legal & Professional

10,000

5,833

3,600

(2,233)

6,400

Accruals W/O for Legal and Accountancy

Prior Year Adjustment

-

( 22,861 )

(22,861) (35,000) (2,833) (2,917) (14,496) (57,967)

22,861 60,000

Investment management fee

60,000

35,000

-

Pension scheme levy

5,500 5,000

3,208 2,917

375

5,125 5,000

Pension scheme audit and accounts Pension scheme legal & professional

-

35,000

20,417

5,921

29,079

Total

141,750

82,688

24,720

117,030