The BDA Finance Committee consists of Philip Ball (Chair), Martyn Brocklesby, Anne Baxter (Dir), John Grainger (Dir), Andrew Stevenson, David Dennis and Richard Fielden
If you (as a BDA member) have any ideas, suggestions or comments that you would like to be discussed at this committee please contact the BDA office – email@example.com
The committee is responsible for ensuring the BDA’s financial and strategic wellbeing in the present and into the future. It monitors current performance, recommends a budget to BDA Management Committee (including membership fees) for approval, examines yearly accounts, and identifies areas of financial weakness and opportunities.
It has developed a Strategic Plan that sets out the aims and objectives for the BDA from December 2019 for the forthcoming 2 to 5 years.
British Drilling Association Limited is a company limited by guarantee. It operates as a non profit organisation and there are no shareholders to whom a dividend could be due. Any surplus made is retained and goes into Members’ Funds (Reserves). BDA’s policy is to maintain a level of reserves sufficient to protect the Association through any period of loss or losses. By prudent build up of reserves over the past few years, the BDA remains financially secure and able to fully maintain all its activities. However the finance committee continues to look at performance and carries out planning to break even.
Following the COVID-19 pandemic and changes to the Secretariat support function, the BDA’s Strategic Plan will be reviewed and updated in readiness for the AGM. This review will include an assessment of the impact of COVID-19 on BDA membership, and therefore income, together with what support may be required to the members of the Association.