The Trade Union and Labour Relations (Consolidation) Act 1992 requires unions to provide members with an annual statement containing financial information summarised from the annual return (AR21) to the certification officer for trade unions. The required information for the year ending 31 December 2016 is set out below. For a full financial statement write to: Union Accountant, NUT, Hamilton House, Mabledon Place, London WC1H 9BD.
|SUMMARY EXTRACT FROM THE ANNUAL RETURN|
|Income||General Fund||Sustentation Fund||International Develop fund||Pension Reserves||Legacy Fund||Branches Fund||Stoke Rochford Fund||Benevolent Fund||Intergroup transactions||Total Excluding Political Fund||Political Fund||Consolidation Adj||Total Funds|
|Subscription from members||33,503,423||353,156||105,947||-||4,299,678||75,473||38,337,677||457,069||-||38,794,746|
|Transfer between funds||(310,172)||310,292||(120)||-||-|
|Surplus for the year||5,722,353||727,121||(125,996)||517,015||-||263,266||(10,647,432)||41,445||-||(3,502,228)||222,757||-||(3,279,471)|
|Funds at beginning of year||61,163,289||5,979,215||330,531||(10,671,015)||14,248||6,726,149||9,047,669||57,750||72,647,836||667,684||73,315,520|
|Funds at end of year||66,885,642||6,706,336||204,535||(22,989,000)||14,248||6,989,415||(1,237,850)||99,195||-||56,672,521||890,441||-||57,562,962|
This meets the costs of providing benefits and services to members or groups of members as entitlements.
It funds the day-to-day running costs of the Union, including property, equipment, vehicles, materials and staffing.
Subscription income shown is net of local fees. Other income derives from rent, commissions, advertising and sales.
This is regulated by union rules. It meets costs incurred in industrial action and other campaigns to promote and protect the pay and conditions of members. Income includes 1 per cent of national subscription income.
This fund is managed in conjunction with the Teacher Support Network.
Entries for this fund are the consolidated income and expenditure totals of all the Union’s divisions and associations. Income is through local fee determined at local level, together with other income generated by division or association sources from the national union.
Expenditure within the national and local rules is determined by divisions and associations themselves.
|Employer's Superannuation Fund||8,288||43,603|
|EXECUTIVE IT GRANTS 2016|
STATEMENT TO MEMBERS
NATIONAL UNION OF TEACHERS
STATEMENT TO MEMBERS ISSUED IN CONNECTION WITH THE UNION'S ANNUAL RETURN FOR THE PERIOD 31 DECEMBER 2016
AS REQUIRED BY SECTION 32 OF THE TRADE UNION AND LABOUR RELATIONS (CONSOLIDATION) ACT 1992
Income and Expenditure
The total income for the period was £45,095,448. The amount included payments of £38,794,746 in respect of membership of the union. The union's total expenditure for the period was £48,374,919. In respect of the union's political fund, its total income was £457,452 and the total expenditure was £234,695.
Salary Paid to and Other Benefits Provided to the General Secretary, President and Members of the Executive.
The General Secretary of the union was paid £87,896 in respect of salary and £8,288 in respect of benefits.
A total of £16,384 was paid to the members of the Executive in the form of IT grants.
A member who is concerned that some irregularity may be occurring, or have occurred, in the conduct of the financial affairs of the union may take steps with a view to investigating further, obtaining clarification and, if necessary, securing regularisation of that conduct.
The member may raise any such concern with one or more of the following as it seems appropriate to raise it with: the officials of the union, the trustees of the property of the union, the auditor or auditors of the union, the Certification Officer (who is an independent officer appointed by the Secretary of State) and the police.
Where a member believes that the financial affairs of the union have been or are being conducted in breach of the law or in breach of the rules of the union and contemplates bringing civil proceedings against the union or responsible officials or trustees, he should consider obtaining independent legal advice.