Buntingford Union Association
A Condition of Great Prosperity
It is pleasing to record that the finances of this Association, the Annual Meeting of which was held last week, are in such a satisfactory condition.
The balance sheet and report for 1926 were submitted at the annual meeting, held at the Technical Institute on Friday morning last, the Rev. W.E. Mills (Trustee) presiding.
The Association covers seventeen parishes, and has a membership of 944. The receipts from members for 1926 amounted to £405 15s. 10 and three quarter pence. Sickness benefits paid amounted to £521 8s., Death £107, and Surgical Aid 5/9.
It will be seen from this that the payments in sickness benefits exceeded the total contributions received, this being made possible by the large amount received in dividends.
Funds invested amounted to £21,471 8s. 11 and a quarter pence, which brought in dividends to the amount of nearly £1,000. There is a Surplus Fund balance of £2,000.
For an association of its size the management expenses appear very small. Salaries and directors' allowances total £103 8s. 3d., printing &c., £9 5s 3d., rent £1 10s. and postages &c., £4 12s. 5d.
Amongest the largest investments are £3,736 War Loan, £3,340 L.N.E.R. Stock, £2,060 Middlesex County Council (3 and a half per cent), and £3,392 L.M. & S. Railway Stock. Other investments include Australian 5 per cent, New South Wales 6 per cent, Southern Railway 5 per cent, and Irish 3 per cent.
It was stated at the annual meeting that the actual incomings for 1926 exceeded the outgoings by £446 5s. 2 and three quarter pence - a very satisfactory state of affairs.
Secretary's Report
The Secretary (the Rev. F.R. Williams, of Anstey), in presenting his annual report, said the accounts for 1926 revealed a condition of great prosperity. Actual cash receipts exceeded payments by a considerable sum, and appreciation of investments increased the value of stocks held by over £500, so that the total assets have grown larger by more than £900.
Membership at the end of 1926 was 944, which compares with 943 at the close of 1925. Only five members had died during the year, although deaths of wives and widows numbered 18.
Eight members lapsed - not a large number - by to be regretted. It was felt that these lapses were due to an imperfect understanding of the advantages offered by the Association. It should be understood that on the average benefits amount to twice as much as the contributions of members.
One practice of the Association might be mentioned as it is somewhat unusual. A member who has not received benefit for twelve months receives when illness takes place a special bonus of three days' sick pay in addition to his regular benefits.
With regard to the State side of the B.U.A., the Secretary wishes to draw attention to the fact that the State benefits for members of five years' standing is now 20/- a week from first day of sickness; in addition, additional benefits - dental, optical, surgical and hospital - are now provided for State members.
It should also be understood that only half of the stamp contribution, i.e. 9d., is credited to Health Insurance as the other half is appropriated to the Government Contributory Pension Scheme, thus the Health Insurance payment is now a penny less per week than it was before the increased rate came into force.
Election of Officers
The Secretary's report and balance sheet were unanimously adopted, and the whole of the Trustees and Officers of the Association were re-elected.