Delegates at the RCN's annual general meeting in Liverpool last week heard that total income increased last year from £69m to £71m and that the RCN's reserves at the end of March 2008 were £8.9m.
A decision has been taken to repay £7m outstanding on the loan for the RCN's Cavendish Square headquarters in central London.
The RCN has also saved money by closing its final salary pension scheme for staff and replacing it with a career average scheme. The pensions deficit has been reduced from £42m in 2006 to £16.8m in 2008.
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