Abstract
The fiscal year, 2005, resulted in a small deficit. However, the books are yet not closed after the ISPO World Congress 2004 in Hong Kong, which is expected to bring further revenues.
Regarding income, ISPO has noted declining membership fees, which is always the case in the year after a World Congress, but this time to historically low figures. Both the International Society and the National Member Societies need to look carefully into this issue.
Sponsorship income fell back to a normal level. The journal, Prosthetics and Orthotics International, has in the past contributed to the staffing of the Office as a share of such expenses could be offset against the income from subscribers and advertisers. This is now no longer the case, as ISPO is not involved in these activities after outsourcing the journal to Informa Healthcare. However, the royalty income gives a small profit over the expenses of the Publication Committee and the printing of reports, which will in the future not be an income generator if carrying the logo of the WHO or the USAID.
The volatility in the international monetary market has continued and kept the capital income at a lower level in lieu of the most conservative investment policy.
Regarding expenses, more funds have been allocated for National Member Society and regional activities, and to a course in West Africa related to workshop management and cost calculation in collaboration with Handicap International and FATO.
The income from membership, publications, sponsorship from SAHVA providing some office space, together with the indirect cost recovery from management of USAID funds is still about enough to cover the daily operation of the Office. A big burden rests on the shoulders of the President and his Officers to spark a membership drive and consider expense issues carefully.
The Executive Board
Copenhagen
20 April 2006