EFCA Financial Accounts

Cash at the bank on 5/4/2021 was  £18359.13. The main financial risk to the charity is loss of funding from ECC and reduced donations and lottery income. The funds are held to cover 2 years operational costs in the event of a loss of income and to meet any unforeseen expenditure that may occur

Our main source of funds this year had been our core grant, lottery income and donations. We received one particularly generous one from Marden Ltd. We are aiming to promote the lottery more as currently we only have 16 carers, which generates over £100 most months. Some lottery winners have kindly donated the money to us. EFCA also have set up Amazon smile which allows us to earn as carers who nominate us as their chosen charity make purchases.

We have used some of our funds to ensure our new website is up and running. Covid 19 meant that we were unable to hold a AGM or an open meeting with speakers and lunch as normal, but we are holding a virtual AGM in 26/4/2021. We have also carried on our trustee meetings virtually, which has meant no rent to pay for a room. The trustees decided in order to reduce our running costs we would no longer have an administrator and are looking to streamline our activities. This includes using the ECC newsletter to communicate with new and existing carers, rather than printing and sending out flyers. This reduces our costs and feel that this has become an ineffective means of introducing ourselves.  

Our main expenditure this year is our continued investment in Adventure Island tickets which has generated income, and also gives carers an attractive discount for a family day out.  We undertook a joint venture of providing Tiptree afternoon teas for our carers as a thank you.

This year has seen our accounts totally up to date and our core grant being requested in a timely manner and a reduction in our regular outgoings which has left us in a financially secure situation and an increase in our bank balance of £5923.60   

Future plans:. Covid-19  has had a huge impact on the sales of our Adventure Island tickets. However, these are transferrable to next year. We are also going to look into other grants, as the charity is keen to lay on an annual event for all foster families as well as the larger AGM event we did in 2019. We have a few carers interested in becoming trustees and would be good for the future of the charity.

Cash at the bank on 5/4/2020 was  £12435.53 . The main financial risk to the charity is loss of funding from ECC and reduced donations and lottery income. The funds are held to cover 2 years operational costs in the event of a loss of income and to meet any unforeseen expenditure that may occur

Our main source of funds this year had been our core grant, lottery income and donations. We received one particularly generous one from the High Sheriff. We have used some of our funds to have our AGM that included a speaker and lunch. We also have invested in adventure island tickets. This will generate income, but also give carers a attractive discount for a family day out. We also sponsored an award at the newly reinstated long service awards, Essex County Council provided our core grant and a large contribution towards our AGM. Essex county council have agreed an increase in our core grant next year from £3600 to £4000.

Our main expenditure this year has been the purchase of the Adventure island tickets and investment in a laptop for our admin work to be done.

This year was difficult after issues with our accounts in the previous 18 months, which led to unpaid liabilities. These have now been cleared and everything is paid up to date. We had a donation from fundraising of £1300, half of which is still to be claimed back from ECC towards family events as this was a joint venture

There were also costs in creating a more effective logo. New leaflets have been produced for new and current carers.

Future plans:. Covid-19  has had a huge impact on selling the Adventure Island tickets – however, these are transferrable to next year. We are also going to look into other grants, as the charity is keen to lay on an annual event for all foster families as well as the larger AGM event we did this year.