Society’s annual review and accounts published ahead of annual
general meeting
The Royal Pharmaceutical Society’s annual
review and full financial statements are distributed with this week’s issue of The Journal.
The Society’s overall income grew by 6.5 per cent in 2007 compared
with 2006. In addition to monies generated from increased fees, income
from RPS Publishing grew by 5.4 per cent.
The Society’s expenditure on professional and regulatory activity
increased by £2,251,000 (13.9 per cent) in 2007, largely due to
costs associated with the Government’s White Paper on the regulation
of health professions and the subsequent Carter review, and changes to
fitness-to-practise procedures.
The Society reports that it fully implemented the inspection of Controlled
Drugs during 2007. This included the recruitment of new inspectors within
its fitness-to-practise and legal-affairs department. This activity is
funded by the Department of Health.
The Society’s balance sheet shows an improvement in reserves compared
with 2006, but the Society warns that this will be short-lived.
Andrew Gush, the Society’s Treasurer, commented: “It has
been well reported that the Society is facing a number of financial challenges
and these are reflected in both the full accounts and the financial summary
for 2007.”
The annual review gives examples of the Society’s work across education,
practice, research, science and communications. It also looks at the
work of the English, Welsh and Scottish pharmacy boards and the activities
of RPS Publishing.
The review
and financial statements can also be downloaded from the Society’s
website from 3 May and will be presented to the Society’s
annual general meeting on 21 May 2008.
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