Breakdown of costs
The College will provide trainees and Fellows with an appropriate breakdown of costs of supporting training, assessment and examination.
In respect of the three departments (training, examinations and assessment):
- Each department has its own budget which is the responsibility of the respective manager.
- It is common for some budgets to run on a deficit (i.e. the income does not meet the full costs of the services provided).
- If one department makes a surplus, this surplus contributes to the reduction of the deficit in the other departments.
- Between them, all three departments run on a combined deficit every year on the income received directly from trainees (namely the trainee registration fees and examination fees). This deficit is made up from membership subscriptions.
The full cost of work undertaken in training, assessment and examinations exceeds the income received from trainees. This area of work is therefore subsidised from members’ subscriptions. In the financial year July 2015 – June 2016, the College spent a total of £1,654,302.80 on training, exams and assessments. This was funded by income from exams (67%), training and assessment (5%) and membership subscriptions (28%).