IPLOCA Treasurer's Report 2022-2023 September 2023 I am honoured to have served another year as IPLOCA Treasurer. I am pleased to report that IPLOCA’s finances continue to be well managed but challenged as our costs increase Year over Year. This has meant we were not able to have a balanced budget in 2022 as the Board continued to support our strategic initiatives. In the last audited accounts at 31/12/2022, IPLOCA assets were stated at CHF 2,073,351.73, a decrease of approximately CHF 375,000 on the previous year’s result. There was a foreign exchange loss of CHF 40,000 for our full year. You will recall we report in CHF but hold our monetory assets in three currencies CHF/EUR/USD. IPLOCA continues to support committee initiatives to provide value to our members and for the benefit of the pipeline industry. In our 2023 financial year these initiatives requested by the Board were again supported from central funds. The Prague Convention was a success. Membership fees have remained unchanged for a number of years despite the increase in services provided to our members and inflationary costs. The Board has therefore recommended that a motion be put forward at the AGM to increase the fees for 2024. In April this year, our independent auditors reviewed the Association’s accounts for the 2022 financial year and in September issued their final report which confirmed that we are compliant with Swiss Law. Our Board of Directors subsequently met and fully endorsed their findings along with supporting their reappointment subject to AGM ratification. Our membership, as at the end of August 2023, stands at 86 Regular Members, 106 Associate Members, 32 Corresponding Members and 4 Academic and 7 Honorary Members. The total membership has slightly increased during the year since the 2022 report. We remain in a good position to support the development of initiatives to add further value to membership and I would like to take this opportunity to thank all of our members for their support of our Association. I am grateful to all my colleagues on the Board of Directors, to Executive Secretary Juan Arzuaga, our Accounting Manager Sebastien Goetschmann and to the rest of the staff of the Geneva Secretariat for their invaluable support.
Adam Wynne Hughes IPLOCA Treasurer 2022-2023
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The IPLOCA Yearbook 2023-2024
