Business Development Officer Report
29.09.20
It is clear that these past 6 months have not been easy across the country, specifically for cultural and hospitality venues, and the new measures in place will continue to cause us great issue.
Had we not seen COVID 19 I believe we would be in a period of growth currently, but that is not the case. It has not been pleasant working on figures and strategies that see us in to recovery or perhaps even mothballed.
Scheduled works and return to business
The contractors, MD Group, are on site and undertaking the agreed schedule of works. Due to Covid restrictions and the knock on effect to the supply chain we will be unable to fit new windows until January. Leaving us with the likelihood of February as a reopen date. This may change.
Financial Statement
Should we go ahead with opening in February, we are forecasting 21% savings on expenditure and thanks to emergency response funding we will drop 36% of our annual earned income.
If we choose to reopen in April, we are forecasting 29% savings on expenditure and with the emergency response funding will drop 47% of our annual earned income.
In terms of the projected outcome for the 20/21 budget, please see RFO report.
21/22 Budget
We have been cautious with our income, but also included the possibilities of expansion within the grant income line. We did not want to request any greater sum as a precept than we have in previous years, but there is a necessary rise.
There are 2 draft budgets for your review. See RFO report.
All figures are take in to account government guidelines and their associated reductions to audience numbers, previous year’s figures as well as customer surveys in terms of interest.
I must advise that we are working with many variables and there are no assurances that our forecasting for this year and the next will even be valid this time next month.
Cultural Recovery Fund
Please refer to the document Government Cultural Recovery Fund Application. Please review this and I am happy to answer any questions that arise from this document.