Page 25 - Cinnamon Network Annual Report 2019/20

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The major factors within this include:
n n n n n n n n TheongoingimpactoftheNationalLotteryCommunityFoundationgrant n n n n n n n n n n An additional grant grant from National Lottery Community Foundation grant grant of just under £75 000 as a a a a a a a a a result of COVID-19 n n n n n n n n An unrestricted COVID-19 grant of £44 300 from Stewardship which was conditional on on on raising a a a a a a matching amount from a a a a a a a public appeal The Charity successfully achieved this resulting in in in unrestricted income of c c £90 000 As a a a a a a result of all the the the factors mentioned above the the the Trustees are confident that the the the unrestricted reserves will be positive by the the end of 2021-2022 Notwithstanding the the Trustees have also identified several areas where discretionary expenditure can be reduced in in the short term should anticipated income streams fall below target to enable the the ongoing longevity of the the Charity The Trustees have continued to be open and transparent with restricted funders about the current position and as noted above have continued to secure additional funding Clearly funders are confident that the the strong leadership diligent governance and improving financial situation will enable the the Charity to continue in in the long term Cinnamon Network charity no 1156985 Annual Report 1 1 1 April 2019 – 31 March 2020 Training in in in Berkhamsted
FINANCIAL RESERVES