Page 22 - Strategic Plan 24-29 (Internal)

FINANCING FUTURE/STRATEGIC PRIORITIES

These three strategic priorities, of course, need to be financed to be deliverable:

Retention plans have been progressed over the last few years and funded within
annual budgets. Payment of the Real Living Wage, as a starting point for all frontline

delivery staff, is now established and should keep pace with incremental changes.
Any future additional improvements to staff terms & conditions, in addition to the
recent introduction of paid sick leave and enhanced maternity pay, should be fully
costed and included in operating budgets.

Growth is the key priority that requires investment to achieve. Careful consideration
should be made to how any expansion will be funded, for example, opening up new
services requires an investment in development staff time, initial set up costs (capital,

regulatory, recruitment, marketing), and initial revenue costs (until income reaches
sustainable levels). Planning for any new or service expansions, should be fully costed
and accompanied by a fundraising plan. Options to achieve this include seeking
charitable/social enterprise grants, loan finance (from the likes of Social Investment

Scotland) or investing reserves, and can be assessed using a risk/benefit model.

Brand development should be ongoing and progressed at every opportunity. A
marketing budget should be included within annual expenditure plans to give best

value/maximum impact for inputs.

Required Action: ensure that all delivery plans are fully costed, with investment
sources identified.