In 2010, the College made a surplus of £759 861 from examination fees after allowing for expenses and a 15% transfer to a development fund. In 2011, the excess was £603 678.

The College has always stated that it does not set out to make a profit from examinations. These surpluses have come about from an underestimate of the number of candidates sitting the examinations. At a recent Council meeting the issue was discussed and it was agreed that examination fees for next year will be frozen, with a 15% reduction for affiliates and trainees registered with the College.

The International Congress received £73 580 in sponsorship in 2010 and £67444 in 2011; £16 836 in 2010 and £14 410 in 2011 came from the pharmaceutical industry.

The issue of what should be done with the money from the examinations needs careful thought and the idea of funding the Congress is an interesting one. Another suggestion is to use it to develop an online revision course for MRCPsych and this is currently being considered. We welcome trainees’ input to the debate and the views of the Psychiatric Trainees’ Committee will be very important in influencing the final decision.