Bursar’s Review Impact Report 2022

10 Impact Report Year of impact figures for year ended 31/12/21 The 2020 financial year was exceptional. The Association pivoted all of its training outputs to online platforms, including its regional group activities. This was all achieved in a period of two days. Despite that seismic and unanticipated shift, ISBA has almost doubled its output of services to members and was financially resilient enough to see the past two years out successfully. Due to lockdowns, our annual conference had to be postponed no less than three times with a serious impact on our short- term financial performance in 2020. However, the successful conference in November 2021 provided su€cient income to replace both the lost conference income and the extra expenditure required by the circumstances of 2020 and saw the Association end 2021 in a robust financial state. This means that we are in a strong financial position to continue to help our members and also to maintain a ‘fighting fund’ to face up to future challenges. The need to retain su€cient reserves to do this is starkly illustrated by the demands of responding to the TPS issue – since the beginning of 2018 we have spent more than £400K providing advice, guidance and support on pensions issues to our member schools and we continue to do so. This is only made possible by the cash flow underpinning our reserves that comes from our membership subscriptions and conference and other commercial activity. ISBA’s advice and guidance helpline continues to answer significantly increasing numbers of queries from members. We responded to 7,248 queries in the two years from 1 January 2020 to 1 January 2022, compared with 2,462 in 2019 (which was more than double the amount of the previous year). We reinvest all our income into services and support to members. ISBA’s resources and our advice and guidance helpline are supported by a full-time member of sta– and three external consultants. This means we can continue to deliver a prompt, accurate and reliable response to the increasing numbers of members using this service. Investment of this income and the e–orts of our dedicated sta– also enabled us to deliver 126 individual webinars providing professional development (PD) training to 13,540 independent school sta– in the last two years. Total Income – £2764K comprising: Membership – £1056K Annual Conference (including sponsorship and exhibitors) – £1526K Other Income – £47K (business directory) Training – £93K Bursar’s Review – £42K Total Expenditure – Advice and Guidance, Training and Publications – £821K Conference Expenses – £1003K Administration, Establishment, Finance and Depreciation - £387K Investment Gains – £133K Surplus – £686K