STATEMENT made to the Council by the Chairman 

 of the Finance Committee, on presenting the 

 Accounts for the year 1911. 



Mr. Adeane, in presenting, on behalf of the Finance Committee, the 

 accounts and balance-sheet for the year 1911, said it would be observed that 

 the accounts had been presented a month earlier than usual. They were 

 dointr that at the request of the Journal Committee, who were very anxious 

 to bring- out the Journal a month earlier, if possible. 



Taking the statement of income and expenditure for 1911, they would 

 observe on the income side of the account an increase of -loll, for the year. 

 This was largely due to the great number of new members Sir Ailwyn 

 Fellowes had been able to bring in from the county of Norfolk. On the side 

 of expenditure there was an increase for the year of 898Z., and he would just 

 remark on the figures where the increase was shown. Under G-eneral 

 Administration there was an increase for printing of 107Z., which was due to 

 the large increase of new members last year, who all received copies of the 

 Journal, which had to be printed expressly for them, and to the cost of the 

 list of Members, printed every three years, which fell due in 1911. There was 

 also a sum of 258/. for the insurance of the staff, the first year's premium 

 having been paid out of the Ordinary account, but the annual payment had 

 now been arranged for by a separate insurance fund, which the Council set 

 up last year. Rent, &c., showed an increase of 170/., due to the heavy amount 

 of painting done to the whole of the outside of the house and the inside of the 

 Council chamber. There were 140Z. for the new edition of " Elements of 

 Agriculture," being one-third of the cost. Then, under the head of other 

 scientific departments, there was an increase of 200/., due to the increased 

 grant which the Council made to the Royal Veterinary College. 



The total income for the year was 9,791/., and the total expenditure 9,769/., 

 which left a credit balance of 22/. 



Before referring to the balance-sheet, he would like to make an explanation 

 with regard to the Insurance Fund. It would be remembered that last year 

 a sum of 9,171/., invested in Consols, was transferred into the hands of Trustees 

 for the purpose of providing the premium on the insurances which were 

 effected in the interests of the staff. This sum still remained an asset of the 

 Society, but as it was held in trust for a certain purpose, the Auditors were of 

 opinion that it should be taken out of the balance-sheet, and it had therefore 

 been transferred to a statement they had in their hands giving a list of the 

 various funds held in trust by the Society. This had made a considerable 

 difference in the figures, which he would explain. 



Taking the balance-sheet, on the debtor side the capital showed a decrease 

 of 6,891/. The capital on December 31, 1910, was 56,375/., and during the past 

 year the sum of 2,60()l. had been added, giving a total sum of 58,975/. From 

 this sum must be taken the 9,171/. which had been transferred to the Insurance 

 Fund, and also the sum of 320/., which they had written off as depreciations, 

 giving a total sum to be taken off of 9,491/., which left their present capital at 

 49,484/. 



On the creditor side there was a difference in the Reserve Fund of 6,171/. 

 In 1910 the reserve stood at 49,600/.. and in 1911 they had added 3,0O0Z. to 

 reserve, giving a total figure of .52,600/. From that they had taken 9,171/. for 

 the Insurance Fund, which left the Reserve Fund at 43,429/. 



Forecast of Ordinary Receipts and Expenditure for 1912. 

 (Other than in respect of the Show.) 



Prepared by direction of the Finance Committee on the basis of the reoommend- 

 atioDB of September 21, 1905, made by the Special Committee. 

 Actual 

 Figures 



for 1911. Receipts. 



£ £ 



8,151 From Subscriptions for 1912 of Qovemors and Members 8,150 



110 From Interest on Daily Balances 100 



1,220 From Interest on Investments Ii270 



310 From Sales of Text Book, Pamphlets, &c. (This does not include the sales 



of Journals, which are deductedfrom the cost of production) . . .300 



9,791 9.820 



FF2 



