Income
  Agreed Budget 2005       Draft Budget 2006       Deviation Comments
Membership Fees 118 464 118 463   Se. reduced & Cr. added
ECIC Fund Contribution 19 160 18 465 -3,00% minus Se.
Multinational fund 0 15 145   support to MNG 2day/month
Booksales 5 000 5 500 10,00% increase price to 80 €
Other Revenues 0 0    
Reductions on subscriptions (10%) -11 847 -11 846    
Total income 130 777 145 727 11,00%  
Charges        
Insurance -550 -1 100 100,00% incl. directors insurance
Purchase of equipment  -500 -550 10,00% back up system & accounting system
Meeting cost -8 000 -7 000 -12,50%  
ECIC-Group Expenditure -19 160 -18 465 -3,63%  
Multinationals group Expenditure 0 0 0,00%  
Documentation/subscriptions & photocopying -2 200 -1 300 -40,91% EIS, EV, FT
Rent and rental charges -14 000 -14 000 0,00%  
Travel & subsistence -3 500 -5 000 42,86%  
Printing (incl stationary) -6 000 -8 500 41,67% 3500 for prospectus
Telephone and fax -1 300 -1 500 15,38%  
Post freight, delivery charges -1 500 -1 200 -20,00% charge P&P on survey
Professional and other fees -3 000 -11 200 273,33% accountants & provision lawyers (x2)
Temporary services  -4 500 -3 000 -33,33%
General and staff expenses -6 600 -6 600 0,00%  
Membership 0 0    
Payroll charges        
Salary charges & Holiday Allowance -66 500 -66 500 0,00%  
Amounts written off trade debtors -500 -500 0,00%  
         
Financial results (interest income/expenses) 1 750 1 750 0,00%  
         
Extraordinary expenses (contingency) -10 000   -14 800   48,00% provision 1/3 Cubitt
         
         
Total Charges -146 060   -159 465      
Reduction Reserves -15 283   -13 738      
Net result 0   0      
         
Liquidity        
Bank accounts by end 2004 190 261,37       
Debtors previous years (2002-2004) 4 019,00       
Expenditures 2004 paid in 2005 -8 916,21       
Net result/reduction reserves 2005 (est.) -22 886,98       
Bank accounts actual 162 477,18       
         
         
Receivables        
Debtors 2005 19 727,00      FEACO & ECIC
Debtors, written off -2 790,00      booksales 2004, part Sweden 2005
         
Estimated equity by 31.12.2005        
FEACO fund (overall activities = reserves) 155 835,92       
ECIC fund 23 578,26       
Multinational fund 0,00       
         
         
Liabilities        
Bills not paid 0