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Annual Report for 2001

Financial Report

The Society continues to have reasonable funds at its disposal, although there has again been an overall decrease in funds over the last year. Relative to the year ending 31 December 2000, the annual income has dropped by some £1200 (approximately 20%). On the expenditure side, the Society's annual outgoings have increased by £844 (approximately 14%). Overall, in the year to 31 December 2001, the Society's expenditure exceeded its income by some £2300, compared with a figure of around £300 for the previous 12 months. It must be stressed however, that the ASE's financial situation is not as bleak as these bare figures might suggest.

The largest single item of expenditure this year was for the Coronado 'NearStar' solar telescope, which was finally delivered in December. Once the instrument is suitably mounted, it will be available for solar observing at Calton Hill in the forthcoming sunny months. The next highest expenses were for the non-domestic rates, the electricity supply to the Observatory, insurance, costs associated with meetings, telephone, society subscriptions etc. Although still rather high, our electricity consumption has dropped by 50% compared with the previous year, principally through discontinuing the use of the de-humidifiers in the Playfair Building. Gas consumption has also been minimal in the last year, due to the inoperation of the gas fire in the Library (this fault has now been rectified ... thanks Ray!). The upshot of ASE's dispute with East of Scotland Water during 2000 is that no water charges have been levied this year; this state of affairs will continue until a water meter has been installed and it is to be hoped that from that point onwards, the City of Edinburgh Council's Department of Arts & Recreation will assume responsibility for this service.

Subscription income has decreased by around 13% compared with last year, however some monies continue to be received in response to the reminders sent out in December. The question of raising the annual Subscription Rate was discussed in the previous year's financial report, although no increase was effected. However as from October 2001, the ASE Council agreed to increase the subscription rate to £15 with a £7 concessionary rate. It was felt that this level of increase was reasonable, given that the Society continues to incur significant annual running costs and that any increase in subscription had been deferred for a number of years. The Society continues to issue FAS Astrocalendars to members when subscriptions are renewed.

Income from users of the Observatory was zero this year, not because the Observatory was not used but because the Society has not yet received any donations from the groups involved. The ASE Council remains optimistic that the Society will receive the donations promised by these groups. The Society's Council will continue to seek donations from users of the site to meet the rates and other charges related to the Observatory.

This year also saw discussions take place between the ASE Council and the ASE Trustees as to the future management of the Trust Fund. Specifically, it had been suggested that the Trust Fund should be absorbed by the ASE and that the responsibility for its future investment be transferred to the ASE Council. The reasons for this suggestion were twofold: firstly to restructure the management of the Trust in order to facilitate a possible future transition of the Society to 'Limited Company' status and secondly to ensure a more 'hands on' management of the investment portfolio so that the Society maximised its investment return. The outcome of this debate was that the Trust should remain 'as is', but with the appointment of some 'new blood' to the Board of Trustees. However, the Society can continue to claim funds from the Trust's income whenever deemed necessary. This year was a case in point and the ASE Treasurer gratefully acknowledges the receipt of almost £2600 from the Trustees, which more than covered the Society's investment in the solar telescope.

The Society continues to incur some expenditure related to the renovation of the 'Lewis 12 inch Newtonian' and the Cox 13 inch reflector. Once again, the generosity of members in giving up their time to undertake work has meant that we have not had to meet labour charges as well.

We acknowledge with thanks the continuing support from the City of Edinburgh Council, although the Society no longer receives a grant towards the running costs of the Observatory.

Details of the Society's finances can be found in the Statement of Balances and the Receipts and Payments Account included in this Report.

Note to the Statement of Balances
and the Receipts and Payments Account
for the Year to 31 December 2001

General Notes

The form of presentation conforms to the requirements of the Charities Accounts (Scotland) Regulations 1992.

The following statements are required to be made:

1. Nature and Purpose of each of the Major Funds
   Current Account : Bank of Scotland Treasurer's Account
   Society Investment Account : Bank of Scotland Business Investment Account
2. Remuneration and Expenses of Trustees
   (in the Society's case this refers to members of the Council)
   Aggregate re-imbursement of expenses to Council Members: £1294.03
   These expenses cover costs incurred by Council Members on Society business which are later re-imbursed.

It should be noted that the split of expenditure under the headings of Society and Observatory is an historical decision which was made a number of years ago to attempt to show an estimate of the costs falling on the Society through its occupation of the City Observatory. The proportions of items which are split between the categories are identified in the specific notes below.

Specific Notes

(Numbers refer to items on the Receipts and Payments Account)

1. Comments relating to the Trustees can be found in the preceding Financial Report.
2. This item includes the cost of tea and biscuits following meetings.
3. The Society continues its policy of offering to take the speaker for a meal before the monthly meetings - a tradition very much appreciated by our speakers.
4. Cost of refreshments provided by the ASE for the BAA's Aurora Section meeting in September 2001.
5. Including display boards for the Observatory and 'Quicken' accounting software.
6. Repair and servicing of the gas fire in the Library.
7. Includes the Coronado 'NearStar' solar telescope and an initial payment for a Dobsonian mount for the Lewis 12 inch Newtonian.
8. Sundry expenses related to the Lewis 12 inch Newtonian refurbishment project.
9. See discussion in Financial Report.
10. See discussion in Financial Report.
11. Includes outstanding payment for previous year's non-domestic rates.
12. Includes items such as gardening and cleaning equipment, replacement light bulbs etc.

Statement of Balances for the Year Ended 31 December 2001

Receipts and Payments Account
for the Year Ended 31 December 2001