Financial principlesUCISA is a registered charity, and as such is not in business to make profits. Subscriptions are set at a level which is intended to gather sufficient income for the Association to carry out its business, whilst maintaining reserves at a level sufficient to meet the Association's liabilities. The policy on reserves is reaffirmed at the Annual General Meeting each year. In the event of the reserves greatly exceeding the level determined at the AGM, UCISA will seek to invest in activities and resources that will benefit its membership. In the light of the very uncertain future funding of UK facilities currently enjoyed by its members, UCISA may seek to preserve and develop such facilities and may require funding for these purposes. If this were to happen, UCISA would request specific opting in by its members, and not simply adjust subscription rates. |
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