FINANCIAL STATEMENT TO MEMBERS

RMTnews :: october 2006 :: www.rmt.org.uk 20 SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FULL ACCOUNTS Summary income and expenditure accounts for the year ended 31 December 2005: GENERAL FUND AND ORPHAN FUND 2005 2004 £'000 £'000 Subscription income 8,755 7,926 Operating expenditure (9,279) (8,199) Operating deficit before investment operations (524) (273) Income from investment operations and donations 2,019 1,237 Operating surplus after investment operations 1,495 964 Other non-operating income/(expenditure) 334 139 Surplus for the year 1,829 1,103 POLITICAL FUND 2005 2004 £'000 £'000 Subscription income 196 191 Investment income - - Other income - 1 Total income 196 192 Total expenditure (375) (225) (Deficit) for the year (179) (33) SUMMARY OF SALARIES AND BENEFITS PROVIDED Name Position Details Amount R Crow General Secretary Salary and expenses £80,394 Pension Contribution £ 23,100 T Donaghey President Attendance and lodging allowances £32,821 The members of the Council of Executives do not receive any benefits but do receive attendance and lodging allowances which are set out below. The General Secretary, the President and the members of the Council of Executives are reimbursed for any expenditure incurred by them in the performance of their duties on behalf of the Union. SUMMARY OF ATTENDANCE AND LODGING ALLOWANCES PAID TO THE COUNCIL OF EXECUTIVES General Grades Name Amount Name Amount D Collinson £ 38,560 R Knight £ 32,126 P Cox £ 32,707 J Leach £ 31,955 M Facey £ 39,712 A Lister £ 38,724 J Gray £ 38,210 P Pinkney £ 41,192 A Grundy £ 35,185 P Trend £ 38,121 Shipping Grades Name Amount Name Amount M Carden £ 8,909 P Hall £ 7,736 M Dunning £ 11,733 S Hyslop £ 8,549 We are required by the Trade Union and Labour Relations (Consolidation) Act 1992 (amended) to include the following declaration in this statement to all members. The wording is as prescribed by the Act. "A member who is concerned that some irregularity may be occurring, or have occurred, in the conduct of the financial affairs of the union may take steps with a view to investigating further, obtaining clarification and, if necessary, securing regularisation of that conduct. The member may raise any such concerns with such one or more of the following as it seems appropriate to raise it with: the officials of the union, the trustees of the property of the union, the auditor or auditors of the union, the Certification Officer (who is an independent officer appointed by the Secretary of State) and the police. Where a member believes that the financial affairs of the union have been or are being conducted in breach of the law or in breach of rules of the union and contemplates bringing civil proceedings against the union or responsible officials or trustees, he should consider obtaining independent legal advice.” Financial statement to members as required under the Trade Union and Labour Relations (consolidation) Act 1992 (amended) COSTS OF THE COUNCIL OF EXECUTIVES - GENERAL GRADES Year ended 31 December 2005: