PracticePeople In PracticePublic Sector Finance – CIPFA income grows.

Public Sector Finance - CIPFA income grows.

Institute annual report reveals financial surplus.

CIPFA’s annual report for 2000 has revealed a financial surplus of more than #800,000 on a turnover of #24.8m, representing a growth rate of 12.8%. The year saw a growth of 22% in student registrations to 670. CIPFA said in future years its priority would be to invest in core activities and to support its five-year development strategy launched earlier this year.
CIPFA’s website is at www.cipfa.org.uk

The UK charity sector is booming with new research for 2000 showing another year of growth valuing the sector at over #65.6bn. The sector was 12% up from #58.7bn in 1999 and has seen a 58% increase since 1996 when it was worth #41.2bn, according to new research published this month by the Dresdner RCM Top 3000 Charities guide which studies the performance of the UK’s largest 3000 charities. John Dale, charities director at Dresdner RCM Global Investors, said: ‘With new trustee legislation, further directives and advice from the Charity Commissioners, increased involvement of government and an unsettled background in capital markets, there is increasing pressure on trustees and a need for them to be able to secure good advice.’

Oxfam has called for a windfall tax on the biggest coffee companies – Nestle, Kraft and Sara Lee, to help finance the destruction of 15 million bags of low-grade coffee. Oxfam argued that the big multinationals have been ‘posting record profits as the price of their main raw material slumps’. The charity said it would appeal to the companies’ home governments to levy a total of $80m-$100m (#56m-#70m) to help fund the one-off destruction plan.
For more on Oxfam, go to www.oxfam.org.uk

The Charity Commission this week issued its latest inquiry report into two associated charities’ for late submission and non-compliant accounts. Accounts for St George Educational Trust and the Trust of St Michael the Archangel for the year ended March 1999 had not been submitted despite the Commission having notified the trustees of the breach. The Commission has demanded the charities re-submit their accounts given they ‘fall far short of complying with the requirements’.

Diane Colley, chief executive and chief finance officer at Rugby Borough Council topped the poll in this year’s CIPFA council elections. Fourteen current council members were re-elected, with two new members – Roger Latham, county treasurer at Nottinghamshire County Council and Liz Burst, chief internal auditor for the States of Jersey.
www.cipfa.org.uk

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