Our Celebration

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Financials and how OC uses donations

After another busy year, Our Celebration has finished in a strong financial position, showing a net surplus of £17,448. This arises from a number of successful contracts and fund raising events, including our participation as a nominated charity in the 2006 York Rotary Dragon Boat Challenge which raised £7,743 for us. £8,000 of the surplus has been used to increase our Maintenance and Equipment Reserve to £18,000 in order to complete necessary building works during 2007/08. Also, a further £20,000 has been added to the Contingency Fund. This means that the Fund now stands at £80,000, which represents almost 90% of the target level of £90,000.

Maintaining an efficient cost base remains a high priority and this year we have managed to reduce our running costs (total costs less depreciation and salaries) from £64,000 to £62,000 (a 3% reduction). Our core funding from the City of York Council and the Primary Care Trust remains in place for 2007/08. However, as reported elsewhere in this Review, European Funding is to be cut back in future and this, together with new contracting arrangements, means that competition for this funding will increase. However, we have secured funding for our successful Blueprint project until February 2008 and it is hoped this project will continue to run funded, either from the same source or with new funding. We continue to seek new funding streams wherever possible.

Donations to Our Celebration are spent directly on supporting our beneficiaries. Whilst we have ongoing support from our core funders, we need to carry out substantial fundraising each year to maintain our service and cope with the increasing demand.