Page 6 - ICD Newsletter May 2021 Draft 27

and re-cast multiple times; communications with for there generosity. Donations given with the 2020
Fellows drafted and circulated then re-drafted and renewal payments reached an all time high of $15,398
re-circulated. Planning was impossible during the AUD. 26% (193) of Fellows made donations ranging
uncertain pathway of the pandemic throughout from $5 to $500. $1,630 in donations was received
2020. There were many disappointments along the from Fellows who are not required to pay annual fees
way. Keith kept his composure and led the Board such as Honorary Life Members.
through the many challenges.
$15,398 might not seem like much in the grand scheme
Keith presided over the highly successful May of international finance, but within our Section this
2019 Section VIII induction ceremony and dinner represents an enormous contribution towards what
in Adelaide. During Keith’s term as President, the our Section is able to grant as financial support of
Board forged ahead with a number of initiatives: volunteer programs led by our Fellows. Over the
review of ICD awards, review of processes for our past ten years, our Section has steadily increased the
“elder statesmen/women” within Section VIII as level of annual funding applied to supporting dentally
part of an overall review of Section VIII Fellowship related humanitarian programs in our region. The
processes, launch of the Young Dentists Volunteer annual Section VIII budget for project support is
grant, introduction of the Perpetual Fellowship Roll modest: $45,000. Modest, but significant as this is
on the Section VIII website, preliminary plans for an the largest single expenditure item in the Section VIII
ICD dinner in PNG, revisions to Bylaws, planning for annual budget. Only annual capitation fees paid to
an ICD function in Sydney at the time of the 2021 the College Office come close to this level of financial
FDI Congress, updates to administrative systems and commitment. This allocation of funding for projects
budget revisions and projections. also represents about a third of annual revenue for
our Section.
Please join the members of the Board in congratulating
and thanking Keith for his outstanding service to our Hopefully, Fellows can easily see that the donations
Section. Keith’s service will be formally recognised at they make each year contribute a great deal to what
the ICD induction ceremony and dinner in Perth on our Section is able to give to support volunteer
October 30th. projects led by our Fellows. Your generosity is
making a difference. No donation is too small to be
ANNUAL FINANCIAL REPORT to FELLOWS appreciated. Thank you!

Renewal Payments We again thank the NZDA and Jill Watson for their
assistance in collecting annual membership renewals
$114,065 AUD was collected in 2020 membership and donations from New Zealand Fellows.
renewal payments. By comparison, 2019 membership
renewal payments totalled $115,474 AUD. At the New Fellow Fees
virtual Board meeting held on March 6, the Board
again approved holding the annual membership As at the end of April, $14,600 AUD has been collected
renewal fee at $180 AUD/$190 NZD given the in payments for new Fellows thus far in this financial
disruptions and challenges many Fellows faced year. This compares to $17,575 collected in new
during 2020 with the pandemic. It was noted that the Fellow fees in FY2020.
renewal fee for New Zealand Fellows has not changed
since 2012 due to fluctuations in the NZD which Capitation & Initiation Payments
have maintained equivalency with AUD renewal rate
changes. The Board anticipates a potential need to The 2020 capitation fee was increased by $5 USD per
raise the renewal fee in 2022. Active Fellow by the College Office to $50 USD/Fellow
which translates to approximately $65 AUD/Fellow.
Donations This increase has not resulted in an increase in annual
dues for Section VIII Fellows.
The Board specifically requested that the Editor
highlight the level of donations given by Fellows with For FY2020 capitation fees of $34,224 AUD were paid
their 2020 renewal payments in this edition of the to the International College Office. Due to the low
newsletter. The Board is most appreciative to Fellows exchange rate between the AUD and the USD in 2020,

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