FINANCIAL REVIEW

One of the key advantages that the PCC has over any legal or statutory system is that it costs nothing for people to complain. Similarly, it costs the taxpayer nothing either - because the significant costs of maintaining an effective self regulatory system are carried by the newspaper and magazine publishing industry itself. This, in itself, is a powerful symbol of the industry's commitment to high ethical standards of reporting.

The Commission is funded by Pressbof - the Press Standards Board of Finance - an independent body which collects registration fees from across the newspaper and magazine publishing industry.

Extracts from the PCC's statutory accounts for the financial year ending 31.12.99 are tabulated on this page. These accounts in the format required by the Companies Act 1985 and including the auditors' reports, which were unqualified, have been lodged with the Registrar of Companies.

	£(000)
Staff costs, including Commissioners	886
Accommodation costs	71
Telephone, postage, stationery, printing, computers, insurance and other general office expenses	170
Consultancy and professional fees	154
Public relations, travel and entertainment	101
Depreciation	17
Loss on disposal of fixed assets	14
TOTAL	1,413

Auditors Deloitte and Touche Solcitors Sheridans