AGM 2020 Q&A
The ARA needs to hold an AGM in order to continue with its business and plan effectively. Therefore we are holding a physical AGM as required by company law but only two Board members will be in attendance. Members must vote via the process administered by Civica either by the electronic vote or, for those not on email, postal vote. Members are offered the chance to ask questions before they vote via this Question and Answer page on the ARA website. This is to allow fair and proportionate questions to be asked and answered.
Question 1 - The Financial Review states the income was £597,469 and expenditure was £664,106, but the figures in the SOFA are £589,469 and £668,607. The net movement in funds changes from (£42,534) to (£55,035) and the balances from £374,166 to £361,665. Is this right?
Answer- For the Financial Review we appreciate to any cold read of the accounts, the paragraph here is not as clear as perhaps it could / should be. With hindsight we can see how this section as it currently stands looks odd without any sort of explanation or reconciliation included as to where the numbers come from. We will change this in next year’s report.
Question 2 - On page 27 (the printed number, not the PDF) - should 'unrestricted funds' at the top of the page above the table and then again for the 2017/2018 figures be 'charitable company'?
Answer - The numbers quoted here for both restricted and unrestricted funds are for the group (not the charitable company).