KIDDERMINSTER MEDICAL SOCIETY
23rd April 2018
Kidderminster PGMC Trustees Report for 2016/17
Accounts for the year ending 4th April 2017 confirmed a balance of £155,430, up marginally from £154,555 in 2015/16. At that time the Trustís income from our COIF Fixed Interest Investment had been well maintained at £5,898 with a capital appreciation up by £4,489. As a result of this satisfactory investment income, despite the expenditure of another £12,085 on four more bursary awards, the excess of expenditure over income was only £1,897. This compares with a positive balance of £876 in the previous financial year.
We have continued to use the Societyís funds to offer two £3,000 bursaries each year and, for 2016/17, the one allocated to Birmingham University Medical School was awarded to Catherine Odendaal, a young lady from Stourport. Her end of year report has now been posted on the website.
As usual, the second £3,000 bursary for 2016/17 was advertised on the Societyís website and by poster in the Education Centre. Also, I was again in contact with all the other 30 medical schools in the UK which offer four or five year graduate-entry medicine courses and last year these various approaches attracted three applicants with strong local connections. These included Ben Ryland, a student from Bewdley who had graduated from Leicester University with a degree in Biochemistry, George Williams, a Cleobury resident who had graduated from Cardiff University with a Biology degree, and Stuart Evans, a student from Haybridge High School, who had graduated from University of Worcester with a BSc in Applied Health Sciences. All three of these applications were supported by excellent references and as usual, we found it very difficult to choose between them. We, therefore, decided to take the fairer option of awarding bursaries to all three and you can find each of their end of year reports on the website.
For the current academic year, Birmingham Medical School have put forward as the choice for their bursary allocation, a young lady from Selly Oak, and our trustees met towards the end of last year to consider applications for the second bursary. Contact had again been made with all 30 medical schools in the UK and, unusually, we have had no applications from any student with direct links to Wyre Forest. However, we did decide to consider one applicant from Stourbridge with some Wyre Forest connections, evidence of need and excellent references, and we decided to give the second bursary award to him.
December 2017ís interim financial statement had confirmed that the total balance on our investments was still well maintained at a level of £153, 533 despite the fact that, as anticipated, the dividend from the COIF investment was down by the equivalent of £1,200 per year. However, since then there has been some capital depreciation and the year-end account on 4th April 2018 reveals an excess of expenditure over income of £5,808 with the current balance down to £147,724. Please let me know if this, or any other matters in this report, need further clarification.
Martin Lewis, Chairman of the Trustees.
Further information can be obtained from:
Dr M L
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