November EC Meeting 2019

GFTU Management Accounts YTD Sep 2019

GFTU Budget Full Year 2019

Budget YTD Sep 19

Actual YTD Sep 19

Variance YTD Sep 19

Budget left to spend / achieve for the year

Notes

Income source Accounts Processing Services

POA & TSSA

120,500

90,375 48,600

78,940 48,600

(11,435)

41,560 16,200

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

6,000

4,374

(1,626)

3,626

- -

- -

- -

- -

Managed Investment Income BM & CAM

40,000

30,000

(30,000)

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

9,000

18,158

9,158

(6,158)

Extra Ordinary Income

-

-

Total income

439,800

378,475

328,680

(49,795)

111,120

Expenditure Staffing Salary And NIC

157,987

118,490

70,419

(48,072)

87,568

Salary for shared Service

-

-

-

-

Pension

13,010

9,758

7,036

(2,721)

5,974

Redundancy & Severance

-

-

-

-

Staff Welfare

860

645

288

(357)

572

7 months at £375

Essential Car user Allowance

1,500 2,000

1,125 1,500

3,375 3,850

2,250 2,350

(1,875) (1,850)

Staff Travel and Subs

Staff Travel shared Service

-

-

-

-

GS Travel HOE Travel

1,500

1,125

488

(637)

1,012

-

- - -

-

-

Other employment costs Training and development Casual / Agency Workers Pensions Recovery Payments

800

600

(600)

800

- -

-

-

Andrew Pearson & Wendy Ledger

24,689 52,500

24,689

(24,689)

Quarter 1 & 2 repayments made (£70k due in year)

70,000

52,500

(0)

17,500

Pension Scheme Cost

- -

- -

- -

- -

Pension prior year adjustment

Total

247,657

185,743

162,645

(23,098)

85,012

Premises Rent and Rates

300 250

225 188

- -

(225) (188)

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

600

2,471

1,871

(1,671)

Health and Safety

-

580

580

(580)

Circle Insurance

Insurance

500

375

2,157 8,591

1,782 2,966

(1,657) (1,091)

Depreciation

7,500

5,625

Cleaning

-

-

-

-

Total

9,350

7,013

13,799

6,787

(4,449)

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

1,600

1,200

679

(521)

921

-

-

-

700

525

599

74

101

Sage Payroll licence

2,500 2,000

1,875 1,500

3,328 4,145

1,453 2,645

(828)

Printing & Copying Office relocation

(2,145)

- -

- -

- -

Total

6,800

5,100

8,750

3,650

(1,950)

Management fees Executive Committee Expenses

2,000

1,500

7,357

5,857

(5,357)

Holiday Inn Wembley, House of Commons, Photographer and Transcript

Conference expenses (BGCM/EC)

12,750

12,750

49,310

36,560

(36,560)

Conference expenses (other)/Speakers

3,000 8,500 1,000

3,000 6,375

10,515

7,515

(7,515)

Accountancy and audit

3,737

(2,638)

4,763 1,000

GFTU Audit Fee Accrual

Legal & Professional

750

-

(750)

Prior Year Adjustment

-

- -

-

-

Investment management fee

20,000

15,000

(15,000)

20,000

Pension scheme levy

28,000

21,000

-

(21,000)

28,000

Pension Scheme Audit Fee Accrual

Pension scheme audit and accounts

5,000

3,750

1,800

(1,950)

3,200

Mercer fees for GFTU Pension Scheme audit report & Walker Solicitors fees

Pension scheme legal & professional

35,000

26,250

19,023

(7,227)

15,977

Total

115,250

90,375

91,743

1,368

23,507