Overall, we are running a surplus of £21.2k against budget, which is due to:
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INCOME: the release of SENIF funding for Playschool salaries, leading to a surplus for Clubs (3.7k)
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EXPENDITURE: an underspend on Salaries (£8.8k), Facilities (£5k), and Fundraising (1.4k). Salaries have been boosted by the receipt of £4.7k government-funded furlough payments; the Facilities budget errs on the side of caution after we’ve been caught out in previous years by unforeseen expenditure; and the Fundraising expenses underspend is driven by the fact we’ve had to cancel the majority of our events due to COVID-19.
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Thanks to excellent work by Teresa, the charity has been awarded a National Lottery Grant of £26.8k, which must be spent by the end of March 2021 on all non-Grant funded salaries and overheads. I will work with Liane, Teresa and the Board to determine how the Lottery money will be allocated, which will mean reorganising our budget for the remainder of the year. Budget money freed up by the Lottery Grant can then be allocated towards the new boiler and any shortfall can be sought through Grants, if necessary.