1 Honorary Treasurer’s Report Samantha Peters. 2 2 A very difficult year Recession hit charities...
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Transcript of 1 Honorary Treasurer’s Report Samantha Peters. 2 2 A very difficult year Recession hit charities...
![Page 1: 1 Honorary Treasurer’s Report Samantha Peters. 2 2 A very difficult year Recession hit charities hard Legacy funding dropped significantly Corporate sector.](https://reader036.fdocuments.net/reader036/viewer/2022070407/56649e215503460f94b0cac9/html5/thumbnails/1.jpg)
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Honorary Treasurer’s Report
Samantha Peters
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A very difficult year
• Recession hit charities hard• Legacy funding dropped significantly • Corporate sector reduced support• Pensions funds became ‘unmanageable’• More pressure on people with arthritis• More people sought our help
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Year ending on 31 December 2009
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The impact on Arthritis Care
• Large deficit on the year (£1.8 million) • Income dropped significantly (£1.5 million) • Reserves fell significantly (£3.6 million) • Pension scheme became unviable • Paper losses can undermine stability• Clearly an unsustainable position
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How we tackled the problem
• Restructured the organisation • Made substantial cuts to infrastructure• Set reduced budget for 2010, planning
‘balanced’ budget for 2011• Appointed professional fundraisers• Constant vigilance (costs and revenues)• Scenario planning (ready and prepared)
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The way ahead • This will take time to turn around • We do not underestimate the challenge• Can use overdraft; not long-term solution• Opportunity to use existing resources within the
whole charity • Need members and supporters help• If all stakeholders work together the outlook is
brighter