|
|
|
|
| (A company limited by guarantee) |
|
| TRUSTEES REPORT |
|
| FOR THE YEAR ENDED 31ST MARCH 2007 |
|
|
|
| FINANCIAL REVIEW |
|
| Fundraising
performance |
|
|
| Achieving a broad funding base was identified as an aim in the
risk management process. |
|
| During 2006/7, funding of £58,500 from the Partnership
Agreement with Dacorum Borough Council represented 56% of the Centre’s
total income. |
|
| Successful
funding applications/arrangements during the year included: - |
|
| w |
Volunteering England
Investing in Volunteers Grant - £1,500 |
|
| w |
Adult Care Services
(Hertfordshire County Council - £763 |
|
| w |
Dacorum CVS / Key
Fund for supported volunteering / employed of disabled people through Connect
Dacorum - £3,000 |
|
| w |
Championing CSR -
employer supported volunteering. Partnership work with other Herts Volunteer
Centres including management fees - £6,633. |
|
| w |
The Sylvia Adams
Charitable Trust - £6,500 for supported volunteering work in 2006/7 |
|
| w |
Funding from the
Hertfordshire Infrastructure Consortium covered the Manager’s time in
leading projects for the Volunteer Centres Hertfordshire network
(Volunteering Herts) and for attending Consortium meetings / taking part in
various activities. In this report period - £7,414. |
|
| w |
Herts Infrastructure
Consortium provided a grant to enable the Centre to renew its Investor in
People award - £1,301 |
|
| w |
Dacorum Community
Trust - £1,000 as a donation towards our contribution to the work of
the Buncefield helpline - December 05 - March 06 |
|
| Reserves Policy |
|
| Trustees have established an annually reviewed reserves
policy. The aim is to hold
unrestricted funds to support 6 months running costs for core activities. At
this level the Trustees feel that, in the event of a significant drop in
funding, there would be time to: - |
|
| § continue the current activities for a limited period whilst
seeking alternative funding
or |
|
| § discharge all
financial and contractual liabilities in the event of closure. |
|
Total unrestricted reserves at the beginning of the financial
year were £53,077 including £28,780 in designated funds.
Designated funds were allocated for restructuring/redundancy, staff
recruitment and capital replacement.
Redundancy costs are calculated yearly in line with statutory requirements,
and ages / length of service of employees.
A capital replacement designated fund is necessary because the Centre is
very dependent on having good quality IT equipment in order to provide up to
date local services.
In mid 2006, there was an option to bid for use of the Dacorum Information
Centre building. This represented a fantastic opportunity to place Volunteer
Centre activities in the Town Centre. Uncertainties over running costs and
limited time to secure external funding to support this move resulted in
trustees designating £12,500 to cover initial costs should our bid be
successful.
This is not a sustainable expense, as reserves would be wiped out in under
4 years.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|