57 / 66
APPENDIX E
INCOME AND EXPENDI TURE ACCOUNT
for the year ended 31 March 2017
Income
Notes
2016-17
2015-16
(1/11/15 to
31/3/16)
£
Fee Income
1(b), 2
3,380,057
28,359
Civil Penalties
2
5,500
600
Government Grant
13
2,516,199
1,950,602
Other Income
3
146,442
-
Reimbursements from
Central Government
Funds
-
179,788
Balancing
Government Grant
-
220,709
Total Income
1(b)
6,048,198
2,380,058
Expenditure
Salaries
4
4,212,020
1,531,772
Members’
Remuneration
5
169,233
67,188
Recruitment
67,383
38,052
Agency Staff
2,100
9,900
Premises
304,085
180,019
Training
57,521
25,528
Travel and Subsistence
48,041
14,320
Professional Fees and
External Consultancy
6
806,282
362,318
Operating Expenses
42,776
15,009
Information Technology
131,976
82,966
Professional
Subscriptions
66,487
48,545
Other expenses
12,997
4,441
Loan Charges
7
11,500
-
Bad Debts
8
115,797
-
Total Expenditure
1(c)
(6,048,198)
(2,380,058)
Surplus/(deficit)
for the period
13
-
-
-
The notes on pages 59 to 61 form part of these Accounts
The income and expenditure account was approved by the Financial Services Authority on the 1 June 2017 and
signed on its behalf by Mr Geoff Karran, Chairman and Ms Karen Badgerow, Chief Executive.
£
£
£
Isle of Man Financial Services Authority Annual Report 2016/17 • 55