Financial Position. The Management Accounts of the CMF Fellowship and Trust (now combined) for the six months to June 2001 showed a healthy surplus of £38,000 compared to £23,000 at the same time last year. The 1999 subscription increase continues to work through, adding £10,000 to 2000’s figure. Donations and one-off gifts were also ahead of budget, along with Gift Aid tax recovery and legacy income leading to income being £46,000 ahead of budget overall. Ministry expenditure is over budget by £9,000 due to the most part to timing errors in the budget split for Refresher Course and increased conference expenditure. Triple Helix remains significantly within budget meaning that general expenditure was £338,000, about £4,000 within budget overall. The nine months accounts for the combined Fellowship and Trust will be produced in early October and will form the basis of the preliminary budget for 2001.

Payroll Giving. In 2000 the Chancellor of the Exchequer abolished the upper limit on payroll giving and generously committed the government to add 10% to every donation until 2003. This means that a gift of £100 is worth £141 to CMF. It costs a 22% taxpayer £78 and a 40% taxpayer only £60. You can use payroll giving to make separate donations to individual charities, or you can make a single donation to a payroll giving agency like CAF or Sovereign. The agency adds the tax and the extra government 10% and places the total in an account for you to spend with a charity ‘cheque book’ or charity card. For more information about how to arrange payroll giving contact Giles Rawlinson at the CMF Office, giles.rawlinson@cmf.org.uk.

Ethical Investment. Compared with most charities CMF is a high turnover, low asset organisation but the Executive remains committed to significant reserves to provide for 3-6 months expenditure cover. We are presently seeking advice on moving to a more soundly based ethical investment policy.

Student Scholarship Fund. We are grateful to the junior doctors who at their annual conference in September (read earlier report) gave £1,790 towards the Student Scholarship Fund, but about £8,000 more is needed to enable 24 student leaders from Eastern Europe and the former Soviet Union to attend the National Students’ Conference in Swanwick in January 2002. If you would like to contribute specifically please send an earmarked gift to the office.

Did you know? The full £75 CMF subscription covers less than one third of the money CMF spends annually on our many medical student and graduate activities, our publications, our pastoral work for juniors, and ensuring that there is an ethical Christian voice heard within the medical profession. So we are heavily reliant on the extra giving of members over and above subscriptions for our continued activity.