East Kent Provincial Charities Association

Financial period Ended 30th September 2008

The Annual Report for the year ended 31 March 2007 made reference to the many changes being implemented as a result of the review of the purpose and function of the EKPCA carried out in that year. Those changes were significant and demanding and were aimed at solving problems already identified. However, no one had identified the upheaval in the financial markets which began in late 2007 and which have had a direct impact on the work of the EKPCA, and on the demands on the time of its all volunteer staff.

The changes and actions begun in 2006/07 were brought to fruition in 2007/08. These included the full implementation of a new computer system which provided vital facilities for controlling all aspects of the financial activities of the EKPCA, together with the ability to provide statements and other information to users. Great emphasis has been placed on electronic communication for both receipt of instructions and the dispatch of statements and other information. Stringent efforts have been made to obtain e-mail addresses for both Lodges/Chapters and individual Brethren. Alongside the computer system a dedicated website has been developed to provide information to anyone having an interest in the work of the EKPCA, and to provide a secure communication link for Charity Stewards and Almoners throughout the Province. Great care has been taken to ensure compatibility between the EKPCA website and that maintained for the Province.

As a result of a request from the Provincial Treasurer, and to ensure that published reports refer to the same periods of time, during the year the EKPCA changed its year-end from 31st March to 30th September. This report therefore refers to the period of 18 months to 30th September 2008.

The turmoil in the financial markets and, in particular, the uncertainty introduced into the safety of investments, caused great concern during the year and gave rise to much discussion. In the early days of the re-launch of the EKPCA emphasis was placed on securing the maximum return but by the end of September 2008 greater importance had to be given to ensuring the safety of deposits. The good news is that, thanks to the skill of the Treasurer and the Finance Advisory Committee, the rate of interest paid by the EKPCA has been held at 5.5% throughout the year and continued into 2009, despite the falling rates in the market generally. Future interest rates are likely to be much lower for some time to come.

Investment in the EKPCA has continued at a very strong level and by 30th September 2008 some £1,194,000 was deposited with the charity - an increase of more than £356,000 over the total at the end of March 2007. In addition the members of the EKPCA have continued to give very generously to both masonic and non-masonic charities. On the specific instructions of its members the EKPCA donated more than £80,000 to various charitable organisations, inside and outside the Province.
 



Patrick J. Thomas

Chairman

 

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