Financially 2016/17 was another year of consolidation for CVSU. Our unrestricted income of £74,308 was little changed from the previous year (£74,131). We continue to exercise tight control over all items of expenditure, such that unrestricted resources expended decreased from £78,881 to £76,863.
As a result of the above, our unrestricted funds at year-end declined slightly from £44,494 to £41,939. Nevertheless, this figure remains comfortably above the six months’ operating costs specified in our Reserves Policy.
At the same time, restricted funds we held for third parties at year end increased from 317,413 to £26,157. This is not unexpected, as this balance always fluctuates more than the unrestricted funds, depending on the status of the different projects we manage.
We would like to thank our principle funders Uttlesford District Council and Essex County Council for their continued support.
You can download our Annual Report and Accounts for the past three years from the Charity Commission website using these links: