Overview of the GPDF 2023 AGM
Dr Zoe Norris opened by welcoming all attendees. There were 41 people representing LMCs and 24 proxy votes had been received.
1. Chairs Report
Zoe highlighted that the messages from LMCs during “the turmoils” formed the core of the agenda that the Board had been working on since the last general meeting. Efforts had been made by all Board members to be more accountable and accessible. There has been lots of opportunity for further informal feedback from LMCs, and it had helped continue to shape both the agenda, but more importantly the way GPDF continues to engage with LMCs.
Since March, Zoe highlighted the following internal work had been progressed.
· We have begun reviewing the constitution. This will be voted on at the General Meeting in six month’s time.
· Strengthening corporate governance with role specifications, review of terms of reference, drafting of new of policies and procedures, including expenses.
· A focus on developing a well-documented and transparent grants process.
· Actively engaging with the negotiations for the new Deed of Grant. An extension to the existing one in the interim.
· A review of the Levy collection process, and considering the future implications if payments are not received.
2. Review of the Annual Accounts for the Year to 31st December 2022
The Board invited Louise Casey from Mitchell Charlesworth, the GPDF Auditor, to give a presentation on the accounts to 31st December 2022, so that the LMC nominees could wholly understand the accounts and ask any questions of her as an independent examiner.
Fundamentally, as this is the year to 31st December 2022, they predate the leadership of the current Board, and most of its members were not Directors.
· During the year, income dropped by just under £50k to c.£1.9m.
· At the same time expenditure costs rose from £2.5m to £3.6m .
A review of this expenditure highlights:
· A major increase in Conference costs, as they are now face to face.
· Staff costs remaining static.
· LMC support costs doubled.
· Rebuild of General Practice campaign cost £279k.
· Winding up advice £52k
· National Association of LMCs £57k.
· Review of Representation [project from a conference motion] £186k
· Legal expenses increased from £70k to £480k. £260k of this relates to legal advice regarding the AGM and General Meetings.
This means that there was a loss of £1.47m.
Investments are currently worth £16.5m, down from £20m. This is partly due to the volatile economy settling down. The investment portfolio is worth £16.7m today.
Louise was happy to confirm that the organisation is a going concern.
3. Directors Work to Reduce Core Costs
Zoe then gave a presentation outlining the Directors’ efforts to cut costs.
On a full year basis there is a projected saving on some core costs of over 50% from nearly £680k to just over £325k.
Legal costs in 2023 are looking to be similar to the year to 31st December 2021.
4. Election of Directors
New Directors elected to the Board are Dr Chris Castle, Dr James Booth, Dr Ben Curtis, and Dr Roger Scott.
LMC Nominees also affirmed the appointment of Jonathan Stanley as an Independent Director.
5. Grants programme
Dr Phil Cox gave a presentation on the new grants programme and how LMCs might apply for funds, and the process that applications would follow. The new programme means the Board expect to give grants totalling £200k to LMC projects in the next year.
6. Deed of Grant Update
Zoe presented an update on negotiations with the BMA. A significant change is the inclusion of a discretionary element that LMCs will be able to vote on.
The negotiations are progressing well, and should be finalised, and made public soon.
7. Consideration to LMCs that are not paying Levies
Zoe outlined that many LMCs highlight the GPDF’s responsibility to Levy paying LMCs to ensure that only Levy payers benefit from anything the GPDF fund. The practicalities of how that might work that are being seriously considered by the Board.
8. Questions
During the two hours of the AGM, LMCs were able to ask questions, and were answered on-line. There was some very positive comment about the changes in the last 9 months.