GENERAL TREASURER'S ACCOUNT 



July 1, 1929, to June 30, 1930. 



The large excess of income over expenditure (£2,437 8s.) shown in the 

 Income and Expenditure Account for the year may be really more than 

 offset by various considerations. 



(1) In respect of Down House : — ■ 



(a) A suspense account of £938 7s. is shown as an asset : it represents 

 compensation paid to the outgoing tenant in 1928, and redemption of 

 tithe, payments made during the previous financial year. It will be 

 recommended that these should be written off in future, whether against 

 general funds or against any further donation to the Down House funds 

 which may be forthcoming. 



(h) The Down House Account shows an excess of expenditure over 

 income amounting to £866 10s. 5d. Of this, £482 4s. may be taken as 

 non-recurrent ; but it will be seen that the excess of running costs over 

 income from Down House funds has been approximately £200, and under 

 present financial conditions it appears that Down House must continue to 

 involve some such charge upon the general funds of the Association. 



As for non-recurrent expenditure, taking the above-mentioned items 

 together and including purchase of land, &c., the non-recurrent expenditure 

 from general funds upon Down House has amounted to approximately 

 £2,500, and may reach £3,000, inasmuch as not all the work of recondition- 

 ing undertaken by the Association (apart from the much more costly work 

 upon the house itself, which was carried out by Mr. Buckston Browne) 

 has yet been completed or paid for. 



(2) The balance of £1,523 5s. Id. remaining of the fund raised last year 

 by Dr. F. E. Smith in aid of extraordinary expenses connected with the 

 South African Meeting appears as income in the Income and Expenditure 

 Account. Upon this fund the Council has undertaken certain liabilities 

 (publication of the results of the Zimbabwe investigations and Zimbabwe 

 Loan Exhibition ; foundation of a second South Africa Medal : see 

 Report of Council, IV — VI), while any remainder has been considered as 

 helping to cover such increased costs connected with the meeting as that 

 of printing, as against the inevitable loss of revenue from the reduced 

 number of membership subscriptions. 



Office expenses during the past year show a general reduction. Among 

 receipts, the apparent reduction of income tax recoverable as compared 

 with the figure for last year is accounted for by the fact that last year's 

 figure represented two years' repayment. 



A review of the financial position, and a consideration of the require- 

 ments of the forthcoming Centenary Meeting and the enhanced responsi- 

 bilities and activities of the Association, would a])pear amply to justify 

 the Council's sanction of an appeal for a Centenary Fund (Report of Council, 

 XII). 



