END of the Line?

The Scottish National Party.

The Financial deficit crisis worsens.

Last year I commented on the accounts for the Year ending 31^st December 2002 with these words: “ Then really pull all shades of Nationalism together towards one single goal. Sort out the finances quickly. Well led and motivated patriots will soon provide the party with fighting funds. It can be done and it will be done!”

Sadly I have an even sorrier set of accounts on the desk before me. The finances have not been sorted out quickly or even slowly, in fact they have not been sorted out at all. The morale and membership figures of the party are now at an all time low and like last year I have again been requested by deeply concerned patriots both inside and outside the party to analyse the figures.

The analysis of these accounts is done more in sorrow than anger, its like seeing an aged but once active relative struck down by some potentially fatal condition that leaves them confused, incoherent, incontinent and lost. I have many friends amongst the SNP activist base, they are people whom I admire for their devotion to the cause of Independence and as I have inquired further, I find the responsibility does not lie with them as much as it lies fairly and squarely in the hands of the collective leadership of the party’s NEC.

I have put these accounts into the same format as last years figures which most readers found to be more relevant and understandable than the format favoured by Party HQ. It is fair to say that some of the points that I made about the accounts last year on the Clannasaor and Siol-nan-Gaidheal reports have been taken on board. At least thats something gained.

The accounts consist of an Income and Expenditure statement on the first page and then the Balance sheet follows on the second page. You will notice that beside some of the income and expenditure items there are references to notes. These follow on the succeeding pages and give a comprehensive breakdown along with comments.

 We start with the Income side and all the various sources are listed along with the amounts for each source. For easy statistical analysis you will note that there is a Percentage expressed as a proportion of Gross income. You will notice one item printed in red which is the UK Government ‘Policy Development Grant.’ After the Income section, you will note that the expenditure section follows on naturally.

Each main expense heading is listed along with the relevant amount and where it is deemed advisable, a note number for easy reference. Finally after the sub divisions of Finance charges and Depreciation you will notice a Red box containing the Nett Operational deficit for the year which is the more accurate method of measurement.

Next comes the Balance Sheet Which lists Fixed and Current assets and the relevant amounts. This is followed by the section on Liabilities. Now follow the figures which show the liquidity or otherwise of the Party. This is worked out by using the formula of: Sum of, Fixed Assets Plus Current assets minus current liabilities which gives the figure for Nett Current Assets / (Liabilities). In colloquial terms this means, being either in the ’Black’ or in the ‘Red.’

‘Long term liabilities’ which are due and payable after one year; follow next and this figure is added to the Nett Current Assets /(Liabilities) figure to give the ‘Nett Assets / (Liabilities). The final section is to show the financial structure of the accounts and the total must agree with the Nett Assets / (Liabilities) figure.

Thank you for being so patient with these explanations; now read on: