THE SNP was left in a better financial position in 2020 than the previous year despite a fall in income, the party's accounts today reveal.
They show that before tax the SNP ended the last 12 months with a £1.1m surplus, up from £318,209 in 2019.
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The documents, published by the Electoral Commission, reveal that while overall income fell from £5.3m to £4.4m in 2020, expenditure also dropped from £5.6m to £3.3m as staff worked from home and events were organised to take place online.
However, while the party raised more money from its membership fees (from £2.2m to £2.4m), it took financial hits with donations falling from almost £905,000 to £416,000.
The biggest set back to the party's finances was the party's inability to hold an in-person conference last year because of the Covid restrictions in force last autumn.
In 2019 conference income stood at £718,846, while this fell to £142,358 last year, the accounts show.
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"The outbreak of the Covid-19 coronavirus in the first quarter of 2020 presented unprecedented challenges," the accounts state.
"This is an ongoing crisis, and the severity of the situation has hugely impacted our ability to raise funds and led to difficult organisational decisions.
"However, with the strength of members, supporters and staff behind us, we have responded effectively and will continue to navigate our way through these trying times."
It added: "With largescale inperson meetings cancelled, there was a big decrease in event income of over £600,000 in 2020.
"Public concern about the economy and job security has impacted on membership numbers in 2020, with the pandemic being given as the reason for cancelling or lowering their membership payments. 86 per cent of total income in 2020 came from the voluntary contributions of members and supporters."
The report went on: "Turnover was generated from six income streams:
* Membership 55%
* Fundraising 21%
* Legacies 10%
* Parliamentary Levy 7%
* Policy Development Grant 4%
* Events 3%
The document stated: "The National Treasurer and staff have reviewed the financial plans and agreed a series of activities to ensure financial stability in the years ahead.
"Infrastructure is in place to allow staff to work remotely. Significant investment has been made to move face-to-face activities online.
"The SNP remains resilient through avoiding undue risk, combined with sound financial planning and management. We also remain dedicated to ongoing prudence and financial control,striving to use funds in the most effective and efficient ways possible."
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Amid ongoing claims about £600,000 which had been ringfenced for indyref2 after an earlier fundraising drive, the party included a report from auditors with its accounts to the Electoral Commission.
The report by Johnston Carmichael LLP, a firm of chartered accountants in Glasgow, approved the party's accounts.
"We have audited the financial statements of the Scottish National Party for the year ended 31 December 2020 which comprise the Income and Expenditure account, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of
significant accounting policies," it said.
"The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’.
"In our opinion the financial statements:
• give a true and fair view of the state of affairs of the Scottish National Party as at 31 December 2020 and of its surplus for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and
• have been prepared in accordance with the requirements of the Political Parties, Electionsand Referendums Act 2000."
The accountants said that the accounts had been audited according to international standards and law.
They stated: "We are independent of the Scottish National Party in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
"We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion."
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Their report concluded that "in auditing the financial statements, we have concluded that the National Treasurer’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
"Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Party's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue."
The document also published Peter Murrell's salary showing the party's chief executive, who is married to SNP leader and First Minister Nicola Sturgeon earned £79,750 a year as of May 31, 2021.
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