19 May 2000
This is the first time since 1993 that CIPFA has achieved a surplus in successive years.
It is also more than double the surplus recorded in 1998 and shows the improvements made following the heavy deficits of 1996 and 1997.
Turnover for the institute also grew by nearly 10% to £21,950,000 in the year when student registrations showed the highest yearly growth for nine years.
'The past year has seen CIPFA achieve its strategy of building a strong financial base and maintain its important role in the development of public services. This gives us a very positive platform on which to build for the future,' said CIPFA president Brian Smith.
Following the financial turnaround, CIPFA's Council has now launched a consultation exercise with members and students to identify strategic objectives for the next three to five years.
PFmay2000
