The Electrical and Electronics Industries Benevolent Association (EEIBA) has announced a shortfall of an "unprecedented" £469,954 in its financial performance to 31 December 2001
The association's annual report attributes the large deficit to: lower company and individual donations; delays in receiving proceeds from other business; lower investment due to the general economic market; and a lower rental income during the refurbishment of owned properties.

The EEIBA says that its welfare spend has not been cut, and cost savings have been put in place, including redundancies, which it is predicted will produce a break even in funds in 2003.

Source

Electrical and Mechanical Contractor