For some years the financial position of the Association has been in a fairly uneasy state. Shortly after the war the student roll was 2400 and there were reserves accumulated from the war years. Since then the roll has dropped to 2050 and costs have soared terrifically. The only increased money available has been from the bringing of the Training College fee up to the same as that for other students. This does not produce much more than £40 or £50. The reserves were spent shortly after the war on various items and it has only been close and detailed budgeting that has kept us going. The deficit has been wiped out in the ordinary account although we are committed to more fixed expenditure.