November EC Meeting 2019
GFTU Management Accounts YTD Aug 2019
GFTU Budget Full Year 2019
Budget YTD Aug 19
Actual YTD Aug 19
Variance YTD Aug 19
Budget left to spend / achieve for the year
Notes
Income source Accounts Processing Services
POA & TSSA
120,500
80,333 43,200
70,573 43,200
(9,761)
49,927 21,600
7 months at £5,400
Recharge for services provided- QGH Recharge for services provided- QGN
64,800
- -
-
-
-
Only CCISUA left to come at £2.5k
Contributions
194,500
194,500
178,608
(15,892)
15,892
Sponsorship/Commission
- -
- -
- -
- -
Investment Income -TU Unit Trusts Investment Income- Zeneca Investment Income- RBS Investment Income- Unity Trust
Dividends received from Astra Zeneca shares
8,000
5,333
2,936
(2,397)
5,064
- -
- -
- -
- -
Managed Investment Income BM & CAM
40,000
26,667
(26,667)
40,000
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
BGCM Event Income - delegates attendance and sponsorship
Other Income
12,000
8,000
18,158
10,158
(6,158)
Extra Ordinary Income
-
-
Total income
439,800
358,033
313,475
(44,559)
126,325
Expenditure Staffing Salary And NIC
157,987
105,325
63,658
(41,667)
94,329
Salary for shared Service
-
-
-
-
Pension
13,010
8,673
6,498
(2,175)
6,512
Redundancy & Severance
-
-
-
-
Staff Welfare
860
573
288
(285)
572
7 months at £375
Essential Car user Allowance
1,500 2,000
1,000 1,333
3,000 2,926
2,000 1,592
(1,500)
Staff Travel and Subs
(926)
Staff Travel shared Service
-
-
-
-
GS Travel HOE Travel
1,500
1,000
488
(512)
1,012
-
- - -
-
-
Other employment costs Training and development Casual / Agency Workers Pensions Recovery Payments
800
533
(533)
800
- -
-
-
Andrew Pearson & Wendy Ledger
21,543 46,667
21,543
(21,543)
Quarter 1 & 2 repayments made (£70k due in year)
70,000
46,667
(0)
23,333
Pension Scheme Cost
- -
- -
- -
- -
Pension prior year adjustment
Total
247,657
165,105
145,067
(20,038)
102,590
Premises Rent and Rates
300 250
200 167
- -
(200) (167)
300 250
Repair and maintenance
Accrual for Gas + Elec since Sept 18 (Lodge demolished). Expecting recharge from QGH as site now on same meter as Hotel
Utilities
800
533
2,321
1,787
(1,521)
Health and Safety
-
580
580
(580)
Circle Insurance
Insurance
500
333
2,157 7,636
1,824 2,636
(1,657)
Depreciation
7,500
5,000
(136)
Cleaning
-
-
-
-
Total
9,350
6,233
12,694
6,461
(3,344)
Administration Stationery, Postage Courier & delivery cost Telephone & mobile IT, website, maintainence
1,600
1,067
322
(745)
1,278
-
-
-
700
467
599
132
101
Sage Payroll licence
2,500 2,000
1,667 1,333
2,985 4,145
1,319 2,811
(485)
Printing & Copying Office relocation
(2,145)
- -
- -
- -
Total
6,800
4,533
8,050
3,517
(1,250)
Management fees Executive Committee Expenses
2,000
1,333
6,496
5,162
(4,496)
Holiday Inn Wembley, House of Commons, Photographer and Transcript
Conference expenses (BGCM/EC)
12,750
12,750
46,725
33,975
(33,975)
Conference expenses (other)/Speakers
3,000 8,500 1,000
3,000 5,667
7,563 3,444
4,563
(4,563)
Accountancy and audit
(2,223)
5,056 1,000
GFTU Audit Fee Accrual
Legal & Professional
667
-
(667)
Prior Year Adjustment
-
- -
-
-
Investment management fee
20,000
13,333
(13,333)
20,000
Pension scheme levy
28,000
18,667
-
(18,667)
28,000
Pension Scheme Audit Fee Accrual
Pension scheme audit and accounts
5,000
3,333
1,600
(1,733)
3,400
Mercer fees for GFTU Pension Scheme audit report & Walker Solicitors fees
Pension scheme legal & professional
35,000
23,333
19,023
(4,310)
15,977
Total
115,250
82,083
84,851
2,768
30,399
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