Annual Reports & Budgets

Purpose

The purpose of this policy is to ensure that the UK Organization for Biotechnology and Computational Science (UKABCS) operates with the highest standards of transparency and accountability by publishing annual reports and budgets. These reports demonstrate how resources are allocated, how grants are awarded, and the measurable impact of the organization’s activities on the scientific community.

Scope

This policy applies to:

• All financial activities, including income, expenditure, grants, and partnerships.
• Operational activities, including programmes, events, and capacity-building initiatives.
• Strategic outcomes and impact metrics linked to UKABCS’s mission.

Annual Financial Reports

• UKABCS will prepare and publish audited financial statements each year.
• Reports will include details of income sources, expenditure, reserves, and restricted funds.
• External auditors will be appointed to ensure accuracy, independence, and compliance with UK charity law and accounting standards.
• Audited accounts will be made publicly available on the UKABCS website and submitted to regulators as required.

Annual Operational Reports

• In addition to financial reports, UKABCS will publish an Annual Impact Reportoutlining:
  • Number and type of grants awarded.
  • Geographic and demographic reach (e.g., countries, institutions, gender balance).
  • Key outputs such as publications, datasets, and tools developed.
  • Partnerships established and joint initiatives undertaken.
• These reports will highlight outcomes, lessons learned, and contributions to global research ecosystems.

Budgets

• Annual budgets will be prepared in line with the strategic priorities of UKABCS.
• Budgets will be reviewed and approved by the Board of Trustees before implementation.
• Mid-year reviews may be conducted to adjust allocations based on income fluctuations or emerging priorities.
• Budget information will be summarized in annual reports to maintain transparency for members, partners, and funders.

Accountability and Transparency

• Annual reports and budgets will be communicated openly to members, partners, and the general public.
• Reports will be published on the UKABCS website and shared through newsletters and stakeholder meetings.
• UKABCS will align its reporting practices with international standards and expectations of funders such as UKRI.

Review

This policy will be reviewed annually by the Board of Trustees to ensure compliance with regulatory requirements and best practices in non-profit governance.