Income under this heading includes property rentals, concession fees, profit on the sale of publications, bank interest, sponsorship, Jersey Heritage Trust Business Associate corporate membership scheme and the hire of the sites for business and private functions. The recent annual growth in contribution made by this income source to the unrestricted fund did not continue this year. Total income recorded under the heading of fees and charges did increase, but this was due to fact that the Trust effectively provided an agency role to the Jersey Revels Event. The takings for this event are shown separately within the restricted funds. Due to rising interest rates, income from bank interest was in line with the previous year despite the significant decrease in cash balances.
Rents and sace hire 12%
Sponsorship and other related income 7%
Bank interest 5%
Fees and charges
2%
Outgoing resources
Negotiations with ESC about the level of the 2005 grant continued until an
agreement was reached in August 2004. It was always going to be difficult to be
entirely successful in achieving the full £300,000 base funding increase needed
to avoid cuts in service. Therefore in anticipation of possible cuts to services
resulting from a partially successful bid, several key staff vacancies within
the organisation were left unfilled. This meant that when it became necessary to
make cuts in public opening hours at the Archive it was possible to offer
alternative employment to the four Jersey Archive staff that had been made
redundant. This meant there were no redundancy costs.
As a result of
leaving these posts vacant, expenditure in the unrestricted fund was limited to
an increase year on year of just 1.8%, well below the increase in Jersey cost of
living for the same period.
However there has been a cost in that the
goodwill of staff, particularly for those based at the Jersey Archive, was
severely tested by the climate of uncertainty surrounding possible closure of
the Archive. Across the organisation generally, three years of continual cost
cutting means that staff are now more thinly spread than ever and this has had
an impact on the organisation’s ability to forward plan and maintain the quality
of its programmes.
The following summarised accounts are an extract of
information from the full statutory accounts, which were approved and signed by
the trustees on 13 April 2005. Our Auditors, Ernst & Young, have given an
unqualified audit report on the full statutory accounts. A copy of the full
accounts has been lodged with Education Sport and Culture Committee of the
States of Jersey and are available on request.
Admission income 73%
Profit on sale of publications
1%
