Ashridge Business School Annual Accounts
Annual Report 2011-2012 Association of Masters in Business Administration
As the newly appointed Treasurer I am pleased to report a sustained income stream and robust balance sheet, which is a direct result of the careful stewardship of the staff and trustees of the Association over the recent past. The result for the year has further strengthened our asset base sheet so that accumulated funds are now at a record level and are represented by readily available cash and investments. The Association is committed to openness and transparency in its dealings with members, business schools and other key stakeholders, and believes that any such surpluses should be fully applied to meet our charitable objectives. Income and Expenses Our primary income sources of accreditation fees and membership subscriptions have increased by 8% per annum and continue to flourish, and we are also grateful to our sponsors who contribute to the important events in the Association’s calendar. Salaries remain fairly constant as a proportion of total spend and the average salary level has decreased, despite recruiting more staff. Central overheads have risen by 14% as a result of our decision to invest in the Head Office infrastructure. The resulting surplus for the year has been credited to general funds. During the year we have also revised our accreditation billing methods which are now much clearer and better reflect the contractual arrangements with the business schools. We continue to monitor the membership income and find innovative ways to provide value for money.
Assets and Liabilities We continue the policy of maintaining high levels of liquidity and access to cash. This is in order to fund the
projects that have been specifically identified. During the forthcoming year we will be reviewing the level and adequacy of the funds in Note 12 to align with our strategic and charitable objectives. We have also taken a decision to review the composition of these funds in light of the individual projects we are currently considering to enhance the delivery of our services to the members and business schools.