Page 7 - the SyI Quarterly V3 digital (1)

However, whilst noting the increased budget deficit the Audit Committee expects this to decrease/fall in line with budget following the
accountancy realignment and additional reserves to be built up as a percentage increase against revenue. The Institute remains in a strong
fiscal position with total assets of £204,401.00 (as of 31st Dec 2019).

You will appreciate that the Institute is growing steadily and as such, revenue is increasing. As a “not for profit”, the Institute does
not make profit, only surplus funds which we then invest into better membership benefits. At the time of writing, we have invested
a considerable amount securing a new collaborative community platform from Higher Logic. This platform will give every Special
Interest group its own workspace to enable their brilliant thought leadership to be captured and shared for all.

The annual report would, ordinarily, have been available to you at the time of the AGM but, due to the current crisis and the
commitments of the directors and other contributors, we extended the deadline for their contributions with a view to circulating
the report a little later. The report will be completed and distributed next month and will detail our achievements as well as our
future plans. I thank all of the contributors for giving their time and effort when so many other priorities in their working and
personal lives must take precedence in the present circumstances.

Thanks very much to you all for your assistance with the survey, and your continued support for and faith in the Security Institute.
I hope it will not be too long before I have an opportunity to catch up with you in person. I would also like to convey my gratitude
to the HQ team for designing and implementing the survey in order to enable us to meet our obligations, and our Company
Secretary Nigel Churton MBE FSyI for his invaluable advice and assistance to the HQ team and myself.

Best wishes,

Professor Alison Wakefield PhD CSyP FSyI

Peter Lavery FSyI elected as Andy Watkin-Childs CSyP MSyI elected as
Deputy Charirman Director of Standards Development

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