| 2006 | 2005 | |
| Income | ||
| Fees and subscriptions | £13,491 | £11,601 |
| Investment income | £5,567 | £5,350 |
| Other income | £401 | £1,367 |
| Donations and legacies | £633 | £4,991 |
| Total income | £20,092 | £23,309 |
| Expenditure | ||
| Publication costs | £16,186 | £17,726 |
| Stationery and postage | £982 | £1,133 |
| Meeting costs | £1,134 | £1,266 |
| Sundry expenses and fees | £546 | £687 |
| Grants awarded | £1,660 | £1,800 |
| Total expenditure | £20,508 | £22,612 |
| Profit (Loss) | (£416) | £697 |
| Gain on revaluation of investments | £2,578 | £5,122 |
| Net movement in funds | £2,162 | £5,819 |
| Fund balances brought forward | £117,880 | £112,061 |
| Fund balances carried forward | £120,042 | £117,880 |
The cost of benefits to members by way of publications and meetings in 2006 exceeded the cost of their subscriptions by £3829. This means that, on average, each member received £13.11 in benefits more than they paid in subscriptions. Despite a small loss on the year of £416, we were able to award two Research Grants during the year – £1000 to Adele Grindon, and £660 to Luciana Génio. Making such grants is an important aspect of our charitable work. Application forms for grants for original work of molluscan research are available from the Honorary General Secretary. The closing dates for receipt of applications are 1st. May and 1st. November. As far as possible applicants should select a closing date which will provide a decision in sufficient time to comply with booking requirements of apex and similar cheap fares.