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Topic Title: IET London: Savoy Place upgrade
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Created On: 18 October 2012 01:53 AM
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 18 October 2012 01:53 AM
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SAVIO

Posts: 343
Joined: 07 May 2002

Will our membership subscription be higher this year because of the IET London: Savoy Place upgrade?
 18 October 2012 06:21 PM
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rossall

Posts: 1048
Joined: 06 August 2001

There is information about costs and the effect on members in the FAQs in the Savoy Place upgrade area of this site.

The IET are not planning to increase membership fees to pay for this project, and the funds are expected to be provided from the established building reserve fund.

Hope this helps.

Regards

-------------------------
David Rossall
The Institution of Engineering and Technology
 19 October 2012 08:55 AM
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SAVIO

Posts: 343
Joined: 07 May 2002

Dear David,

What will be the % increase of the membership subscription this year?
 19 October 2012 11:15 AM
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rossall

Posts: 1048
Joined: 06 August 2001

The 2013 fees will be posted on the relevant page in the first week of November, at around the same time that the first renewal notices go out.

Hope this helps.

Regards

-------------------------
David Rossall
The Institution of Engineering and Technology
 06 November 2012 05:56 PM
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jcm256

Posts: 1895
Joined: 01 April 2006

Are the IET moving in with IMechE


http://mycommunity.theiet.org/blogs/55/153
 06 November 2012 06:08 PM
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afwilson

Posts: 793
Joined: 28 January 2002

The IET and the IMechE have announced the temporary co-location of their HQs at One Birdcage Walk in Westminster, London, should the proposed Savoy Place upgrade project proceed in 2013.

http://www.theiet.org/membersh...a/co-location-2013.cfm

-------------------------
Andrew F Wilson
IET Governance & Legal Affairs
 28 February 2013 11:15 PM
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wliptrot

Posts: 104
Joined: 30 June 2003

Does anybody have any information of the costs involved in the Savoy Place Upgrade?

I am curious as how this will be funded.

Are membership costs going towards this project?
 28 February 2013 11:15 PM
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wliptrot

Posts: 104
Joined: 30 June 2003

I have found a few links elsewhere, which indicates that it it will be funded from a building fund. Where did this building fund come from? If the costs are £30m, what extra provision is in this fund to cover the inevitable overrun?
 28 February 2013 11:15 PM
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edalmond

Posts: 5
Joined: 03 October 2001

That is correct, the current £29.4m project budget will be drawn from a reserve designated by the Trustees, there is no intention to fund the work from subscriptions.

We are still in the early part of stage E of the RIBA design process so some contingencies are included in the budget. We are actively managing cost risk, including investigations and partial strip-out before tendering the main works.

Regards
Ed Almond
IET Finance Director

-------------------------
Ed Almond
Director of Finance & Planning
The Institution of Engineering and Technology
 28 February 2013 11:15 PM
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wliptrot

Posts: 104
Joined: 30 June 2003

Thanks for the reply. Where does the reserve designated by the Trustees come from?
 28 February 2013 11:16 PM
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rossall

Posts: 1048
Joined: 06 August 2001

I've merged two threads on this topic - hope this helps.

Regards

-------------------------
David Rossall
The Institution of Engineering and Technology
 28 February 2013 11:25 PM
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edalmond

Posts: 5
Joined: 03 October 2001

They have been built up over a period of time from a combination of net surpluses from our various charitable activities, trading profits and investment returns.

-------------------------
Ed Almond
Director of Finance & Planning
The Institution of Engineering and Technology
 07 March 2013 01:29 PM
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wliptrot

Posts: 104
Joined: 30 June 2003

"charitable activities, trading profits and investment returns" - Do any of these "surplusses" originate from subscriptions?

Thanks for merging....
 07 March 2013 05:53 PM
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edalmond

Posts: 5
Joined: 03 October 2001

Too much financial speak, but the answer to that is basically no. Surpluses from our charitable activities are fundementally driven by publishing products, which also cross subsidise some other activities such as education and policy work.

regards

Ed

-------------------------
Ed Almond
Director of Finance & Planning
The Institution of Engineering and Technology
 22 April 2013 03:08 PM
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mholland

Posts: 1
Joined: 09 April 2013

Who is undertaking the Mechanical design for the fitout?
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