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TREASURER’S FINANCE REPORT
2020

INCOME £11.77k surplus
£131.6k vs a target of £119.9k
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Fundraising was boosted by a £20k non-ringfenced donation from Lloyds (thank you, Hazel), and £2.3k from Just Giving in December. A £10.9k shortfall for Clubs reduced the Fundraising surplus. (I was expecting Clubs to be corrected by a transfer from Playschool; however, only £1.2k was released from Ringfenced funds, and the remaining £8.8k was a transfer of funds that had already been allocated against Clubs). Overall, the income target was exceeded by £11.8k, which is a fantastic achievement given the difficulties faced in 2020 due to the Coronavirus and its consequences.
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EXPENDITURE £17.8k underspend
(£86.8k) vs a budget of (£104.6k)
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There were underspends on all-bar-one of the divisions (IT), with notable savings on HR (£10.7k), Facilities (£3.7k), Fundraising expenses (1.6k), and Club expenses (£1.3k). Overall, an underspend of £17.8k against budget has ensured we will be able to ring-fence monies from 2020’s budget for 2021’s first big project: the new air-con system (£27.5k).
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Overall, we finished the year with a combined income-surplus and expenditure-underspend of £29,572.70
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RING-FENCED FUNDS
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Mencap Ring-Fenced: £21,347.58
Junior Gateway (20/21): £2,659.75
Youth Club (20/21): £2,740.25
National Lottery Grant: £11,676.58
Baily Thomas: £3,000
Air Con: £1,271.00
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Playschool Ring-Fenced: £10,710.57
DAF: £4,443.93
SENIF: £6,266.64
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We finished 2020 hitting 202% of our new revised Fundraising target, largely thanks to October’s non-ring-fenced donation of £20k from Lloyds.
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At least with regards to Maidstone Mencap’s finances, I am happy to end 2020 and start 2021 with such good news.
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I hope 2021 will see the vaccines start to turn the tide against the virus and, as always, stay safe and healthy! 🙂
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2020 Fundraising
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