Total expenditure increased from £117,793 in 2021/22 to £134,201 in 2022/23. £14,512 of the increase was returned to members as member services, the remaining £2,000 of the increase was a 3% increase in administrative costs. Total income decreased slightly from £141,870 in 2021/22 to £141,035 in 2022/23, reflecting a reduction in fees for some categories of membership balanced by an increase in the number of members. The resulting surplus of £6,833 takes total reserves to £81,660, which is above the maximum level for the emergency operating reserve set by the Board.
A further 6 lapsed professional members re-joined during the year (79 have now re-joined over the last four years). Professional membership increased from 480 to 489. Total membership (including retired and trainee members) increased from 614 in 2021/22 to 646 in 2021/22.
An average of 577 members subscribed to BJP during 2022/23. The cost of an individual subscription to BJP is £70 per year. The total value of this benefit is £40,390.
454 members subscribed to PEP-Web in 2022/23. The annual cost of an individual subscription to PEP-Web is $145, approximately £128. The total value of this benefit is £58,112.
96 members have an IJP subscription. The full annual cost of an individual subscription to IJP for 2022 is £200. The discounted price is £85 so the discount is worth £115. The total value of this benefit is £11,040.
146 CPD events were held during 2022/23 delivering 2,259 hours of Formal Learning CPD valued at £15/hour and 888 hours of Learning and Reflection from Others CPD valued at £5/hour, with a total value of £38,325.
UKCP charges their Direct Members £250 for their 5-yearly reaccreditation to the UKCP Register. We provide this service to our UKCP registrants at no additional cost. 45 members completed their reaccreditation in 2022/23. The total value of this benefit is £11,250.
UKCP gives their individual members who register through an organisation an annual discount of £30 (compared to the fee for Direct Membership). During 2022/23, 285 FPC members were registered with UKCP generating a value of £8,550.
The total of all tangible benefits for the 2022/23 membership year is £167,667. Total fees paid by members were £140,716.
In 2022/23 we have achieved a cost/benefit ratio of 119% (2021/22: 109%), exceeding our target by 19%.
The work of FPC would not be possible without the significant voluntary commitment of many members participating in committees and organising events. The Board met 4 times during the year. The Ethics Committee continued to meet regularly through the year. The Trainee Liaison Committee continued their good work in supporting trainees as they approach graduation.