Treasurer's Report for financial year January-December 2001 The finances of the Association are in a healthy state, thanks to the continuing success of the Journal. Our assets at December 2001 were £79,017. The Journal income for 2001 was £16,656, nearly £3000 more than for 2000. Under the agreement with OUP, the Association receives 15% of the subscription income (subscription to the Journal being the means by which individuals become members of the Association), and 50% of the profit made by the Journal. Payments to the Association from OUP in respect of the journal are staged, and the final settlement is not made until five months or so after the end of the year to which it relates. The financial report presented at conference contains the Association accounts for the preceding calendar year, but in turn these accounts reflect the Journal income of the year before that. Hence the 2002 conference is presented with the 2001 accounts, whose income is largely that for the 2000 Journal. Our expenditure was less than last year and the accounts show net income of £5,359. A major item of expenditure this year was the cost of the design and printing the ALLC leaflet (£3,199). The Journal Editorial expenses of £4,901 include payment for assistance with secretarial work and administration (which includes the creation of a database of contributors) and expenses for editors meetings. Five Bursary awards of £500 were made at the New York conference. I am happy to provide more information on any item in the accounts to interested members. Contact me at the address below. Jean Anderson Honorary Treasurer July 2001   Statement of Financial Activities Year to 31 December 2000 Income 2001 2000 Journal income: 15% share of revenue £8,246.00 £8,004.00 Journal income: 50% of profit share 8,410.00 5,025.00 Bank Interest 976.02 1,170.00 Building Society Interest 1,575.49 1,521.00 Tax recoverable on prior year's interest -- 716.00 Total income 19,207.51 16,436.00 Expenditure Journal editorial expenses 4,901.28 4,650.00 Bursaries 2,500.00 2,500.00 Annual AGM Conference 2,617.62 954.00 ALLC workshop 0.00 1,734.00 Conference Programme Chair - visit to ALLC 0.00 1,108.00 ALLC committee meetings 0.00 6,198.00   3,199.34   0.00   Other costs 629.51 770.00 Total expenditure 13,847.75 17,914.00 Net income/(expenditure) for the year 5,359.76 (1,478.00)       Fund balances brought forward 73,760.00 75,238.00           Fund balances carried forward 79,119.76 73,760.00

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