From Birdcage Walk

The latest in our ongoing series of updates about activities at the Institution.

Dear Member,

In the northern hemisphere we are just beginning to experience the green shoots of Spring.  The analogy with our Institution’s own phase of development cannot be ignored.  In the last few days we have seen much to encourage us. That is not to be complacent, there is still much to do, but we should at least recognise and celebrate our successes so far. 

On Friday, the Commercial and Investment Board reviewed the operating performance of our four commercial subsidiaries - Venue Hire, Learning & Development, Sonaspection and Argyll Ruane. Data, which was available to end of February, showed each and every one of them ahead of their individual targets. Combined with no extraordinary events, so far that needed them to draw down on any of their contingencies, meant that the businesses were cumulatively £181k ahead of plan and £298k ahead ofthe same time last year. Added to this, the Learned Society is £90k down on its overheads and £102k down on its project costs compared to last year. All in all therefore, the Trustees will be looking at a £490k positive position compared to last year at their meeting next Wednesday, 20 March.

The day before, many of us took part in a webinar Council meeting for an update and asking questions about the three Reviews now underway. Fifty four members of Council and the Trustee Board logged on to hear the Review teams present their work to date and more importantly to take live questions over a period of two hours.  The technology worked well and any questions not answered at the time will receive written responses in the coming days.  The general themes of a shortage of free reserves, commercial businesses that have been through a tough time, and a governance structure that requires changes and simplifications endured from the reactions already known to the interim reports.  It is speculation, but these webinars would seem to be a good cost-effective way to handle the need for increased engagement from Council in the future.

Finally, we are just three days from the closing of the nominations list for the nine Trustee places and twelve Council vacancies available this year. The details of how to apply are available via governance@imeche.org. The list closes at around 6.00pm on Wednesday 20 March during the Ordinary Meeting at Birdcage Walk. Voting will then take place until mid-May with the results being announced at the AGM on 22 May.

We are now focused on making these elections a success, as even those of us still in disagreement on some issues in our Institution agree that the ballot box is the ultimate solution. The year ahead promises to be still challenging for whoever you select. Those of us close to the centre certainly hope, however, that the worst is now behind us.

Thank you,

Colin Brown

Chief Executive

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