A message from UKCP Treasurer David FitzGerald

David FitzGerald

David FitzGerald

UKCP Treasurer David FitzGerald is UKCP's treasurer, lay trustee, and tax and business consultant

Once again, the UKCP Board and I are faced with the task of preparing our financial plans for yet another year – 2022/2023. A key element in that process is establishing the annual fee for the coming year, and we have decided that an increase of 4% is appropriate, with student membership remaining free.

This decision is never an easy one, but this year was even more difficult in light of the inflationary environment in which we all live. Inflation at time of writing is 9 per cent and may go even higher. As ever, we need to balance differing, and often conflicting, requirements.

On the one hand, we must be very mindful of the financial circumstances of members, and we cannot ever take any annual fees for granted. Bearing this in mind the direction of travel in fee setting ought to be to have any increases as low as possible. This is clearly in our members’ interests.

On the other hand we must also face the reality that to support, and develop as members would expect, costs money. The various initiatives undertaken by UKCP to add value to members’ qualifications have been outlined elsewhere. They include an extensive programme of successful campaigning, considerable raising of the UKCP qualification profile in the media, further development of key partnerships, and a deeper involvement in research, to name but a few.

We have been faced with a significant increase in the fees we must pay to the Professional Standards Authority. This is over a 400% increase, and our membership fee increase this year will not even cover all of this, let alone the inflation costs across the rest of our expenses. So prudent cost management will continue to prevail in UKCP.

The process involved in determining annual fees is an exhaustive one. The Senior Management Team and Executive Committee have an input, and report their views, after considerable discussion to the Finance Risk and Audit Committee (FRAC). After an extensive discussion, FRAC agrees a position and this forms a recommendation to the Board of Trustees – where there is yet more discussion. The Board of Trustees has the final decision.

All the issues that any group of members would consider are covered in the various discussions. Some participants have a view that our new fees may be on the high side, others take the opposite view and feel they are not high enough to do the job we need to do. So, at the end of the day the end result is essentially a compromise – with all views taken on board. It is important to note that at the end of the process all of those involved – both Trustees and non-Trustee members alike were agreed on the outcome.

I am satisfied that the internal management of finances within UKCP is sound, and that great care is taken to ensure that expenditure is as prudent as it possibly can be. FRAC meets regularly to ensure we are managing things correctly, and there is always robust constructive debate involved.

I would like to thank all members for their continuing support of UKCP. I also want to assure you that the needs and requirements of our members, together with an ongoing enhancement of the UKCP qualification, are the primary focus of all our efforts.

Thank you.

David FitzGerald
Treasurer, UKCP
May 2022

  • UKCP members

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