ANNUAL REPORT
the coming years.
The Secretary brought the AGM to a
close and opened the EGM at 12.50.
EGM
1. The Secretary explained that the
proposed small subscription
increases for 2019 were necessary
to cover the rising costs of running the
Institution, which includes utilities,
rates, consumables and so on, plus
a small surplus to be used for
developing projects.
Mr Blay asked if there is an age limit
to those wishing to become student
members of the IED. EKM explained
that membership is open to anyone
aged 18 or over, but there is no upper
limit as long as someone is studying
fulltime they can become a student
member.
1.1 The Chair proposed that the increases
be adopted. Motion carried.
The Chair brought the meeting to
a close at 12.54.
These minutes are the formal record
of the meeting printed here for
acceptance at the AGM on Saturday
6 July 2019.
NOTICE OF ANNUAL
GENERAL MEETING
The Annual General Meeting of the
Institution will be held at 12.00 on
Saturday 6 July 2019 at National
Motorcycle Museum, Coventry Road,
Bickenhill, Solihull, West Midlands,
B92 0EJ.
The Business of the meeting will be:
1. to approve the Minutes of the
Annual and Extraordinary General
Meetings held on 21 July 2018
2. to adopt the Income and
Expenditure Account and the Balance
Sheet to 31 December 2018
3. to adopt the Annual Report of
the Council for 2018
4. to appoint independent examiners
5. to con rm the Honorary President,
Chair and Vice Chairs for 2019/2020
6. to announce the members
of Council for 2019/2020.
NOTICE OF EXTRAORDINARY
GENERAL MEETING
An Extraordinary General Meeting of
the Institution will be held immediately
following the above AGM.
The Business of the meeting will be:
To discuss and, if thought t, approve
the following:
That the Annual Subscription Rates
from 1 January 2020 shall be:
Fellow £203.00
Member ( rst year) £91.50
Member (second year) £137.30
Member (after two years) £183.00
Student Free
Affi liate £60.10
Retired Member £56.20
Note: Free membership for students
is granted only to those undertaking
a full-time course acceptable to the
Institution.
COUNCIL NOMINATIONS
Further to the Notice given in the
March/April 2019 journal, no
nominations for election to Council
have been received.
E. K. Meyrick, Secretary
Summary of Annual Report - 2018
Income for 2018 increased by nearly
£45k, compared to 2017, mainly due
to income from the annual E&PDE
conference, a generous donation
towards IT equipment and some
compensation received from the
bank, plus a small rise in income from
membership subscriptions.
Expenditure for the year increased by
£11k, but overall there was a healthy
surplus made of £21.5k. Total income
for 2018 was £333k, with the main
sources of income continuing to be
membership subscriptions, the E&PDE
conference, room rental and Gift Aid.
The graphic below shows this in more
detail.
Income
Gift Aid 6%
Membership Subs 64%
Conference 7%
Accreditation 5%
Other 18%
Expenditure for the year stood at £311k.
The graphic below shows how this is
broken down into the main areas.
Expenditure
Staff salaries and pensions 42%
Property maintenance 5%
Lighting and heating 3.5%
IT costs and support 2%
Postage 2%
Bank charges 2%
Professional fees 3%
Journal 20%
Other 20.5%
A full set of the annual report and
accounts is now available on request
– if you would like a copy of the 32-page
report, contact nadine@ied.org.uk or
telephone the of ce on:
01373 822801. nadine@ied.org.uk
22 www.ied.org.uk
/www.ied.org.uk
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