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Over the years the Association has received many bequests which have been invested, the interest earned on such investments being the main annual income source.
The bulk of this money was invested many years ago in 8.5% Treasury Stock which matured in July 2007. With present interest rates being much lower, and the Stock Market being volatile, our treasurer has re invested the money temporarily on the London Money Market through our bankers HSBC, whilst seeking professional advice as to its future long term investment. With best interest rates currently running at around 6.5% pa, then future income from this source would drop by approx £1600.00.
As evidenced on the Finances page, expenditure over most years has exceeded income, and without addressing this trend the position will worsen.
As such during 2005 a fund raising committee was set up under the leadership of Maldwyn James, vice chairman of the Association, which to date has raised approximately £3800.00.
The Association would be grateful of any fund raising events carried out independently of its own activities, with proceeds donated, and also of any other donations and bequests no matter how small.
Donations can be sent to either the Vice-Chairman or the Treasurer as
detailed on the Contacts page.