KIDDERMINSTER MEDICAL SOCIETY
Our bursary to support a
graduate-entry medical student is again available for the next
Dr Martin Lewis, Chairman of Trustees.
Kidderminster PGMC Trustees Report for 2017/18
Accounts for the year ending 4th April 2018 confirmed a balance of £147,724, down from £153,533 in 2016/17. At that time the Trustís income from our COIF Fixed Interest Investment had reduced from £5,898 to £4,502 and the capital sum invested had depreciated by £4,025. As a result of this reduction in investment income, despite the expenditure of only £6,085 on two more bursary awards, the excess of expenditure over income was up to £5,808. This compares with a negative balance of only £1,897 in the previous financial year.
We have continued to use the Societyís funds to offer two £3,000 bursaries each year and, for 2017/18, the one allocated to Birmingham University Medical School was awarded to Kathryn Olsen, a young lady with a previous nursing degree and a family based in Bromsgrove. Her end of year report has been posted on the website.
As usual, the second £3,000 bursary for 2017/18 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 only one applicant with local connections. He was Thoqeer Hussain, who was based in Stourbridge, but had worked with a multiple sclerosis support group in Wyre Forest and had an aunt living in our area. His application was supported by excellent references and we therefore decided to award our second bursary for the year to him. You can again find his end of year report on the website.
For the current academic year, Birmingham Medical School have put forward as the choice for their bursary allocation, a young man from Harbourne, 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, of the applications received, two candidates had reasonably strong links to Wyre Forest. Thus the father of one worked at Sealine for nine years and the other had been working at Worcester Royal after obtaining a nursing degree. Both had impressive CVís and excellent references and we decided that each was deserving of the KMS bursary.
The Trustís current financial position, as detailed in the income and expenditure accounts at the end of the 2018/19 financial year, confirm that the total balance has declined by another £6,500 or so. This would appear to be the inevitable result of the reduction in the COIF investment income, as reported last year, and some further modest capital depreciation. As a result of these trends, the excess of expenditure over income has risen a little further to £6,433 with the current balance down to £141,291. The latest accounts detailed above have kindly been provided by Gordon Cox following the very sad passing of the Trusteesí previous Treasurer, Charles Waring. Please let me know if these, 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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