PracticePeople In PracticeCIPFA earns record surplus in 2000

CIPFA earns record surplus in 2000

The Chartered Institute of Public Finance and Accountancy has posted healthy finances for the financial with its biggest ever surplus of £824,000.

In doing so, the institute joined the Association of Chartered Certified Accountants with money to spare, fairing far better than the rivals, ICAEW and CIMA who both announced losses for their respective financial years in April.

CIPFA’s Annual Report and Accounts 2000 showed the institute realised a record surplus of Pounds 824,000 for the financial year ended December 2000 on turnover of Pounds 24,763,000, a growth rate of 12.8%.

In addition, the institute managed to register 670 new students in 2000, and increase of 22% on 1999 and bettering a target of 570.

Commenting on the results, CIPFA president Mike Weaver said it had been an outstanding year for the institute and called the results ‘the best ever’.

Looking to the future, Weaver said: ‘In the coming year we have a big opportunity to build on this exceptional platform and ensure that CIPFA continues to enjoy success in the medium and long term.’

Priorities remain investing in core activities and support plans, as detailed in the 2001-2005 Development Strategy.

Links

ACCA declares sound finances for 2000

ICAEW reports first loss in five years

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