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Honorary Treasurer’s Report

Honorary Treasurer’s Report. Samantha Peters. A very difficult year. Recession hit charities hard Legacy funding dropped significantly Corporate sector reduced support Pensions funds became ‘unmanageable’ More pressure on people with arthritis More people sought our help. 2.

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Honorary Treasurer’s Report

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  1. Honorary Treasurer’s Report Samantha Peters

  2. A very difficult year Recession hit charities hard Legacy funding dropped significantly Corporate sector reduced support Pensions funds became ‘unmanageable’ More pressure on people with arthritis More people sought our help 2

  3. Year ending on 31 December 2009 3

  4. The impact on Arthritis Care Large deficit on the year (£1.8 million) Income dropped significantly (£1.5 million) Reserves fell significantly (£3.6 million) Pension scheme became unviable Paper losses can undermine stability Clearly an unsustainable position 4

  5. How we tackled the problem Restructured the organisation Made substantial cuts to infrastructure Set reduced budget for 2010, planning ‘balanced’ budget for 2011 Appointed professional fundraisers Constant vigilance (costs and revenues) Scenario planning (ready and prepared) 5

  6. The way ahead This will take time to turn around We do not underestimate the challenge Can use overdraft; not long-term solution Opportunity to use existing resources within the whole charity Need members and supporters help If all stakeholders work together the outlook is brighter 6

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