Old news. But still good news.

Posted: 20 February 2014 in Prisons
Tags: , ,

Deficit to Surplus

Overall, there was a net surplus in 2012/13 of £122,528. This compares well with a deficit of £2,700 in 2011/12 and £195,000 in 2010/11. As a result Prison Fellowship was able to increase its reserves away from the inadequate level they had fallen to in the last two years.

Can I bask in the sunlight of my own glory? Claim the achievement as Finance Controller & Co Secretary for myself. I could, but that would be unfair, and grossly vain. With the smaller charities like ours, so much depends on close collaboration with others. For instance, Fundraising, who constantly have to both tell people and thank people, for their contribution to crime reduction and the rehabilitation of prisoners. Or Programmes, who have to help volunteers deliver good quality services, month in and month out, in what can be a tricky environment. I salute my colleagues. And of course say – more of the same please this year.

We have called it a satisfactory year rather than a good year because the distribution and nature of funding points to an increasing financial risk:

  • Income rose by 14% while expenditure was constant largely due to deferred activity and recruitment.
  • Voluntary Income increased by 14% due entirely to an infrastructure support grant from the Ministry of Justice for £150,000.  All other voluntary income was 13% lower than 2011/12.
  • Fee income from Sycamore Tree courses was up £65,000 (20%) compared to 2011/12. The largest single component of this was the service contract with the Ministry of Justice.
  • Restricted voluntary income continued to grow as a proportion of total income and is now 68% (38% in 2011/12).  This adverse trend has the potential to seriously restrict PF’s activities.  Greater care is being taken to attribute legitimate costs to activities and funding.  Net Incoming Resources is reported in 2012/13 for unrestricted funds as well as restricted funds.

 The full Report and Accounts for can be downloaded from http://www.prisonfellowship.org.uk/who-we-are/how-we-work-2/what-we-do-with-the-money/ . As well as the Charity Commission website, of course.

As for this year (2013/14)? We have expanded the work and so we expect to break even.

Bill Lovett

10/02/2014

 
Deficit to Surplus
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