You can review the budget for 2019-2020 here.
This includes recruiting and employing a CEO and hosting the Women’s European tournament. As in any budget there are risks it will not be achieved, income can be lower than anticipated and costs can be higher, the Board is committed to managing any changes to the expectation as the year progresses and with the support of the commission leads, we are confident a small surplus can be achieved overall.
Last year because of the cash flow issues we kept spend decision making tightly under control restricted to the Chair and Finance Director. The forward objective is to allow more people the scope to have an overall budget for an event and for that responsible person to achieve the best they can within that overall commitment. Unfortunately, we do not feel at this stage able to do that entirely as although we are expecting surpluses the cash flow situation is still expected to be tight in the summer. This policy will be reviewed once the new CEO is onboard and we will work toward more delegated authority through out the year, probably on an event by event basis.
The budget has been prepared on an accrual basis.
Income is predominately from members, even when clubs pay a fee the cash ultimately comes from the players and coaches etc. The Board are aware of this and when we reviewed the fee structure took this into account. Fees were therefore not increased as much as we thought possible to justify and therefore the new fees do increase overall income but only by a relatively modest amount. We have reduced or held fees for participating children and students while ensuring equality for women across the various forms of the game.
In the presented numbers there is a comparison to the draft actual results for the year ended March 2019, these are not the final independently examined accounts and although no changes are expected they could change through the checking and validation process.
Some main points to note:
1. 2018-2019 draft accounts are showing a profit.
2. Income in the budget is down compared to prior year, due to the assumption there will be smaller contributions from National Programmes and other sources despite the £10k contribution from Sport England. Income from members is up due mainly to increased numbers and the fee review.
3. Support of both BAFCA and BAFRA has been maintained at the prior year levels.
4. In the budget overall less money is being spent on National programme activity due to lower activity, by that I mean less events/games.
5. Competition spending is mainly finals and the overall spend on National finals and BUCs finals is budgeted to increase from the year ended 31 March 2019. So increased budget for National finals.
6. Last year we had to provide for bad debt on both the GB Adult contact team and the BUCs fees non-payments, there is also a provision for an historical IT contract dispute.
7. Legal fees should be lower than previous years/
8. Insurance costs continue to increase due to increasing participant numbers.
9. Others include the one off £14k for recruitment of the CEO, £10k of which is funded by Sport England.
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