CIBSE | NEWS CIBSE Financial Briefing The summary of CIBSEs account was presented on 22 August 2023 as a hybrid event As announced at the CIBSE AGM on 13 June, the Briefing was held as soon as possible once the delayed CIBSE accounts had been fully audited and signed off. Adrian Catchpole, CIBSEs President, welcomed those attending, and Vince Arnold, CIBSE Honorary Treasurer, then summarised the accounts: 2022 had seen a strong performance: Group income rose from 6.9m to 8.4m; Group expenditure rose by 809k; operational surplus was 767k (279k in 2021); investment performance reflected economic trends at 494k loss; final surplus was therefore 273k (442k in 2021). There had been no major changes to the figures presented at the AGM and reported in the August issue of CIBSE Journal. 116k reallocated from debtors had resulted in slight changes to the balance sheet, but the net assets remained unaffected. The related parties note in the Statutory Accounts (page 78) had been amended in relation to Trustee and Subsidiaries transactions. Julia Poulter, from auditors Crowe UK LLP, then confirmed that the audit had concluded and that the statutory accounts of CIBSE, CIBSE Services Ltd and CIBSE Certification Ltd had been approved by the Board, and signed by the Trustees and herself on behalf of Crowe UK. Questions from Members, were then addressed, including: Stephen Lisk requested clarification on the resources challenge that had caused the accounts and audit to be delayed. Ruth Carter CIBSE CEO, confirmed that it had proved very difficult to recruit the number and capability of staff required. A subsequent internal audit had established the resources needed to ensure this issue wasnt encountered again, and the Trustees had accepted these actions. In addition, David Cooper, vice-president responsible for governance, is carrying out an internal review to ensure the Trustees are fully satisfied that all recommendations have been addressed and learnings adopted. Chris Jones questioned whether there is a need for a more strategic approach to financial stability, including the ongoing deficit funding of the Defined Benefit Pension Scheme. Vince Arnold advised that the Board acknowledges that financial stability was recognised as a key risk and that it is actively managed by regular review of available funds to settle debts as they fall due, regular liaison with the bank, and active management of trade debtors and creditors balances. In regards to the Pension Scheme, investments are performing better in 2023 and the triennial review may even show a surplus. It is not, at present, a major concern, but is closely monitored as a potential risk. A further question asked why it had been necessary for a Trustee to be paid to lecture on the Building Safety Act, rather than a staff member? In response, it was highlighted that CIBSE Services uses a pool of up to 100 trainers to deliver training courses, as do other professional engineering institutions (PEIs). It is not financially viable to have sufficient salaried staff to meet the requirements to deliver training. In conclusion, Adrian Catchpole thanked all those attending the Briefing, as well as Crowe UK and CIBSE staff for all their hard work on the 2022 accounts and audit. T he full Annual Report and Financial Statements are available to view online. CIBSE awards medals for best BSER&T papers Low energy and carbon faades, use of smart controls for air purifiers and openable windows, ambient loop heat networks with interseasonal storage, and fault detection and diagnostics for air handling units are the topics addressed by this years awardwinning technical papers, as featured in Building Services Engineering Research & Technology (BSER&T), the research journal of the Institution. The Dufton Silver and Napier Shaw Bronze Medals are awarded for papers relating to fundamental research. The Barker Silver and Carter Bronze Medals are awarded for papers on application of research in practice. The winning papers are selected based on international interest and significance. With faade performance in mind, the Dufton Silver Medal for research was awarded to Michalis Michael and Mauro Overend, of the University of Cambridge, for their paper Closed cavity faade, an innovative energy-saving faade. 12 November 2023 www.cibsejournal.com The Napier Shaw Bronze Medal for research was awarded to Akos Revesz, Phil Jones, Chris Dunham, Anthony Riddle, Norman Gatensby, and Graeme Maidment, of London South Bank University, for their paper Ambient loop district heating and cooling networks with integrated mobility, power and interseasonal storage. The Barker Silver Medal for application and development was awarded to the paper Improving indoor air quality and occupant health through smart control of windows and portable air purifiers in residential buildings, by Yan Wang, Elizabeth Cooper, Farhang Tahmasebi, Jonathon Taylor, Samuel Stamp, Phil Symonds, Esfandiar Burman and Dejan Mumovic, of University College London. Narges Torabi, Huseyin Burak Gunay, William OBrien and Ricardo Moromisato, of Carleton University in Ottawa, Canada, were awarded the Carter Bronze Medal for application and development for A holistic sequential fault detection and diagnostics framework for multiple zone variable air volume air handling unit systems. The accolades were presented at the CIBSE Presidents Awards Dinner in October. C IBSE members can read the BSER&T and LR&T journals for free at www.cibse.org/knowledge