BDA financial crisis? BDA to raid Branch funds

Details
Published: Saturday, 17 December 2011 20:18
Written by News Editor
Hits: 3352
BDA Chief executive, Peter Ward, has written to all Branch Chairmen and Treasurers with proposals for them to return any surplus funds they had at the end of the last financial year (30.Sep.10) to the BDA centrally and to accept a 50% reduction in next year’s grants. GDPUK understands that the BDA’s Board of Directors (the Representative Body) were not informed of the letter nor of its contents.

Many BDA members were under the impression that membership was holding up and that the Association’s finances were sound, although affected by the recession as has the whole country. That was the picture the Representative Body was given at its last meeting in June.
The Body was told that there had been a substantial demand for its services and a drop in income from its commercial activities (mainly due to the recession). They were also told of the need to invest in services for future demand. On the basis of this information the Body, as the BDA’s Board of Directors decided that subscriptions should be raised next year by 5.2%. The Body also authorised management to look at other areas of potential funding such as running down reserves, commercial borrowing or requesting support from Branches.
But as one Rep Body member told GDPUK: ‘We expected management to look at all the alternatives and come back proposals at our next meeting in September. We certainly have not authorised this letter; indeed we had not even seen it before it was sent to the Branches.

0
0
0
s2sdefault


You need to be logged in to leave comments.