Board of Delegates Approves 2023 Financial Report

Anna Rue
Anna Rue

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On June 25, 2024, following a positive recommendation from the financial committee, the Board of Delegates approved the 2023 financial report of the Dutch Bar Association (NOvA) and granted discharge to the General Council. Across the board, expenses were lower than budgeted while revenues slightly increased. As a result, the deficit for 2023 was €775,183, significantly lower than the projected deficit of €2,750,000. This difference is partly due to reduced costs for disciplinary proceedings (€114,000) and decreased subsidies to the Foundation Supporting Legal Disciplinary Boards (€183,000). Personnel costs and General Council expenses were also lower than anticipated (€222,000 and €86,000, respectively). Additionally, the costs of the Advocatenblad were under budget (€140,000), partly because the number of lawyers opting for the digital version doubled. Furthermore, several budgeted items related to the transition to a new supervisory system were largely unused (€527,000). Meanwhile, revenue from financial contributions was €151,000 higher than budgeted. Of the deficit, €122,749 will be covered by the designated reserve for the 'Implementation of the Law on the Position and Supervision of Lawyers'. The remaining €652,434 will be drawn from the general reserve. The 2024 budget anticipates a deficit of €469,000. More Information Download the 2023 Financial Report of NOvA Read more about NOvA's activities in the 2023 Annual Report

On June 25, 2024, following a positive recommendation from the financial committee, the Board of Delegates approved the 2023 financial report of the Dutch Bar Association (NOvA) and granted discharge to the General Council.

Across the board, expenses were lower than budgeted while revenues slightly increased. As a result, the deficit for 2023 was €775,183, significantly lower than the projected deficit of €2,750,000.

This difference is partly due to reduced costs for disciplinary proceedings (€114,000) and decreased subsidies to the Foundation Supporting Legal Disciplinary Boards (€183,000). Personnel costs and General Council expenses were also lower than anticipated (€222,000 and €86,000, respectively). Additionally, the costs of the Advocatenblad were under budget (€140,000), partly because the number of lawyers opting for the digital version doubled. Furthermore, several budgeted items related to the transition to a new supervisory system were largely unused (€527,000). Meanwhile, revenue from financial contributions was €151,000 higher than budgeted.

Of the deficit, €122,749 will be covered by the designated reserve for the ‘Implementation of the Law on the Position and Supervision of Lawyers’. The remaining €652,434 will be drawn from the general reserve.

The 2024 budget anticipates a deficit of €469,000.

More Information

  • Download the 2023 Financial Report of NOvA
  • Read more about NOvA’s activities in the 2023 Annual Report

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