info@essexfca.org

EFCA Financial Accounts

2021 - 2022 Financial Review

Cash in the bank on 5/4/2022 was £20907.82. 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. Darren Harman-Page stepped down as chairperson this financial year, however he has remained a trustee. Helen Cornwall and Amanda Stevens were voted in as joint chairpersons.

Further financial review

Our main source of funds this year had been our core grant, lottery income, adventure island profit and donations. We have voted on a trustee to focus on gifts and grants to see if this revenue can be significantly increased. The Essex lottery is still raising over a £100 most months and 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 also run some raffles and had a generous prize gifted by carer Fiorella. a holiday in her caravan

We have used some of our funds to purchase polo shirts that will be used at meetings to identify the trustees. Covid 19 meant that we were unable to hold an AGM or an open meeting with speakers and lunch as normal this financial year, however we held a virtual AGM on 26/4/2021. We are leased to say we have an in person am on 27th April for this year in the format of a meet and greet. EFCA have also carried on our trustee meetings virtually, which has meant that we have not had to rent a room for meetings. The trustees have looked at streamlining our activities and this includes using the ECC newsletter to communicate with new and existing carers, rather than printing and sending out flyers.  EFCA also use the facebook page run by a foster carer to advertise ourselves, improve open communication and offer help and advice

Our main expenditure this year was a hamper dash, which was a fun way to be able to give a large number of carers a tiptree hamper for Christmas. We also have run nominations for sons and daughters, and for professionals and friends who go over and above to help in our day to day lives as carers. We also have purchased more adventure island tickets, and Colchester zoo tickets, and this also gives carers an attractive discount for a family day out.

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 our bank balance in a stable situation

Other information

Future plans: Covid-19 has had a huge impact on the sales of our Adventure Island tickets. However, these were transferrable to this year and are now actively being promoted and sales are picking up.  We are also continually looking 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 several newly appointed trustees who have made the board a dynamic and motivated team. This is good for the future of the charity.  The gift and fund trustee is a new position and the idea is to increase our financial security and the independent support we can offer carers

Declaration

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees

Signature

 

 

Full name

Amanda Stevens

 

Position

Treasurer/Joint Chairperson

 

Date: 24/4/2022

___________________________________________________________________

 

2020 - 2021 Financial Review

 
 

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

 

Further financial review

 
 

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   

 

Other information

 
 

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.

 

Declaration

 

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees

Signature

 

 

Full name

Amanda Stevens

 

Position

Treasurer/Vice Chairperson

 

Date: 24/4/2021

___________________________________________________________________

 

2019 - 2020 Financial Review

 

 

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

 

 Further financial review

 
 

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.

 

 Other information

 
 

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.

 

 

Declaration

The trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s trustees

Signature

 

 

Full name

Amanda Stevens

 

Position

Treasurer/Vice Chairperson

 

Date ;12/5/2020