In the year to 31st March 2023, the BAA spent £259,467, with an income of £132,632. The net reduction to the BAA cash and investments was £140,976, while I expect other years will see increases as long as we continue to receive legacies.
I see every indication the BAA takes great care of its finances. The reason the BAA spends so much is because it is a very busy Association. There are the Journal and Handbook, meetings and events of various kinds, the website, archives and a lot of smaller items on the accounts.
I should emphasize, the ending of new Honorary members is part of a proposal to rebalance how the subscription income is paid over time, not to change the total subscription revenue, which is reviewed by the Treasurer each year.
This is intended as a discussion, so maybe retaining Honorary members is the right thing. However, my opinion is it is a good idea to rebalance the membership structure. Related to this, only around 5% of BAA members are under 50.