Report of the Honorary Treasurer to the Annual General Meeting,7th May 2009

摘要

Ladies and Gentlemen, Fellows of the Society, I am honoured to present the Annual Report for 2008.rnThe year was characterised by two major developments.rnThe first of these relates to income from ongoing activities. In 2008 we, in the Society, were largely successful in developing our various sources of income and moving closer towards financial equilibrium from ongoing activities.rnOur total income in 2008 showed a 31% increase over 2007. This positive result was attributable to the successful development of our various income streams. The elections of new Fellows and enhanced collections enabled us to increase income from subscriptions by 14%, despite subscription rates remaining unchanged during the year. Net income from the Journal registered an exceptionally strong performance owing to a combination of increased consortia sales and higher Rights revenue. Donations continued to improve. Almost 2/3 rds of total donations was attributable to one donation for general purposes from Barclays Bank pic, to whom we would like to record our gratitude, along with our thanks to all our other donors during the year. Rental income showed the positive impact of rental receipts for a full year and revenue from the hire of facilities grew almost five-fold. It was only in the area of investment and interest income that a decline was recorded, 'with a fall in income of approximately 22% from 2007, reflecting reduced yields and dividends from bonds and equities, as well as lower interest rates. Despite the very testing macro-economic climate, our sources of income are varied, balanced and robust; that is the most pleasing feature of our overall revenue profile.