Main points to note from the accounts for 2002 are:

1. Funds in the bank as at 31 December 2002 are shown in the balance sheet. These show funds of 234,203 euro of which 152,000 euro are committed to settling the 2002 Amsterdam Conference invoice, leaving available 82,203 euro to carry forward to 2003.
2. The operating costs of the IPCRG group are shown in Running and Development Costs. These include the costs of communication with members and potential members as well as purchase and distribution of the Primary Care Respiratory Journal; liaison with sponsors and partner organisations; contact with the webmaster; executive committee meetings; the development of a corporate governance framework and financial management. We achieved these activities within budget.
3. Our website www.ipcrg.org is managed by HMG/Synigence which is paid directly by Boehringer Ingelheim (BI) and therefore does not appear in our accounts. To improve the transparency of our business, we have agreed with BI that in 2003 BI will pay us and we will pay the webmaster.
4. Although the research fund shows monies left over, this is actually fully committed to a current research project and will be spent in 2003.
5. The Amsterdam conference in 2002 ran at a loss of approximately 20,000 euro. Venue costs and social programme costs were the main contributors to this overspend. Whilst it is disappointing to have made a loss, our priority was to attract large delegate numbers and this target was exceeded. The conference organising committee for 2004 has taken note of the main lessons from Amsterdam in its plans. We will transfer the remaining funds required from the running and development fund.
6. The Melbourne 2004 conference fund is showing as a loss as at 31 December because of the payment of deposits for the venue and some early publicity materials.
7. The accounts, balance sheet and cash books are maintained by the Secretariat, supervised by the executive officer and expenditure authorised by the Treasurer. The IPCRG aims to become a charitable company, and has taken steps to achieve this. It will then be subject to the accounting requirements of both the UK tax office and the Charities Office. In preparation for this, the IPCRG intends to set up a Governance Committee that will be accountable for the IPCRG finances, legal and fiscal obligations.

Ron Tomlins
Treasurer

INCOME AND EXPENDITURE