Page 24 - ICGN Annual Review 2017 - 2018
P. 24

Notes to the results

1. Membership: ICGN membership subscriptions accounted for 10. Rent: lCGN ls a tenant of lCSA The Governance Instltute and
51% (2016: 44%) of total revenue Member recrultment was pays an annual rental whlch includes rates, service charge and
13% (2016:12%) and attrltion was 10% (2018 18%). The total insurance
number of individual members as at 31 December 2017 was
855 (2016: 638) which represented a net 3% lncrease from the 11' Om“: ‘ncmdes telephone‘ Come" Stamnery‘ postage‘ mm‘
year before (2018 5% net deC|me)_ software, lT support. equipment, surveys, award cemflcates

and subscrlptlons.

2. Conferences: lCGN Conference proflt was 49% (2018 54%) _ _
of total revenue The ICGN Annual Conference hosted by 12"A°°°“m'"9: Bflzacon pm/'_deS a°°°“m‘"9 Sewms
K\NAP in Malaysia generated a profit of £172,069. Thls lS '”°'“d‘”9 m°”""V b°°kk°9f"”9v °t“3"?"V '“a”a99m9”‘
lower than the expected target of £250,000 which was partly a°°°“”‘5' pay mm q“a"e"V VAT 'ep°m"9' a""“a‘ Sta'“'°'V
offset by strong results for regional events in Washlngton DC a°°°“m5' and preparamy Work for am"
5"” P""5- 13. Audit: Audlt sen/lees from Grant Thornton amount to £9,841

3. Courses: We delivered one ESG course which was held 9°16‘ 910259’
alongswe the ‘CGN Conference in PMS‘ hosted b‘/AXA 14. Legal I tax: Relates to employment advlce and tax advice
Investmem Managers‘ related to conferences.

4. Veaibook:‘The lCGN Yearbook allows for a restrlcted amount 15_ Bank charges: Commfismn Charges assocmed Wm
of advemmal Space‘ membershlp and conference payment admlnlstratlon

5' scholarships: The 005“ associmed Wm‘ the Alastair ROSS" 16. Travel: Expenses related to lCGN representatlon at events
Goobey scholarship is £2,008 which is offset by money held and meetings
ln a restricted fund. The costs associated with the SirAdrlan
Cadbury scholarship amount to £4,306, partially offset by 17. Marketing I publications: lncludes publicatlon of materlals
lndivldual donations of £720 and guidance.

6. Other. Scholarship administration fee amounted to £2,200 18. Board / committees: lnclude costs of company secretarlal
and £244 for editorlal honorarlum. and board evaluation services

7. Statf: The average monthly number of employees was elght 19. Other administration: lncludes depreclatlon and
(2016: seven) sundry items

8. Consultancy: Relates to training and staff recruitment.

9. Website: Costs relate to maintenance and minor

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