SUBSCRIPTION DODGING by members is costing the ICE thousands of pounds every year, finance director Ian Powney told NCE this week.
Subscriptions for 2001 were due on 1 January, but six months later over 11,000 members have yet to pay, leaving the Institution £1.2M short of funds.
Subscriptions account for over 90% of the Institution's income and delays in payment hit hard, said Powney. The £1.2M owed amounts to 14% of the ICE's annual income.
According to Powney the annual administrative cost of chasing these funds is upwards of £75,000. He urged members with outstanding subscriptions to pay up. 'This money is vital to providing services for members, ' he said.
Since 30 June the ICE has been able to expel members who refuse to pay their subscriptions. But Powney said this was a tactic of last resort would only be applied if gentle persuasion failed.
The ICE will put pressure on members with outstanding subscriptions by blocking all benefits.