EC Meeting Papers January 2019

General Secretary’s Report.

January 2019.

1

Cybercrime.

Just before Christmas I was made aware of a very serious cyber fraud against the GFTU. Christmas and much time since has been spent writing reports for the Information Commissioners’ Office, the Police, Action Fraud etc. I will give a full oral report at the EC and the President and Vice President have been regularly updated.

2

Finances

Potentially these are affected by the Cybercrime.

The investment report is attached and members will note a disappointing 10% reduction in value due to market conditions, this only stresses again perhaps the uncertainty of money market investments and the need to shift to our more stable plans at Quorn. The hotel management accounts and systems were not left in the best of conditions by the departing finance officer and these are being rectified. A significant mistake was made on previous management accounts and the adjusted figures have a negative effect. Arrangements for the end of year audits have been made and it is hoped that the EC will receive the end of year accounts prior to the BGCM, this is always a particular timing struggle in the BGCM year.

Full finance papers will be received at the next EC meeting.

Management accounts are available of course for all EC members upon request.

3

New Build.

I hold a weekly update with the Project Manager Mark Childs.

The house building is behind and estimated occupancy is now 1 July instead of 1 st June.

The GFTU Office move has been delayed three months and we intend to move in in early February.

The hotel new rooms has been delayed and the completion of the rooms is not now estimated until June 1 st .

The Goodacre extension is on time and will be open March 4 th .

I am seeking advice on whether we can claim insurance for the £40-£50k we had to spend on the asbestos find. There are heavy penalties on the contractors for delays but even this does not seem to motivate them.

We are not in a position to offer incentives for timely completion.

The commercial director appears unprepared to meet to discuss the situation.