1. Sash Tusa Vice-Chairman Chair of Finance Committee
Financial Review
Sash Tusa
Vice-Chairman
Chair of Finance Committee

2. WTSWW key financial issues
Finance Committee reports to the Board of Trustees
Meets quarterly to monitor finances, support CEO and senior management team
Areas of focus include performance vs budget, potential expenditure on new reserves and other assets, pensions, investments, Trust liabilities
The Trust remains in transition from a period of financial recovery towards a sustainable, financially-balanced organization
Transition has lasted longer than expected due to changes in external funding, especially from WG
Biggest structural challenge is to build up financial reserves

3. WTSWW finances have stabilised after a very tough period

4. WTSWW: where does our income come from?

5. Grants have fallen, but trading income is up

6. …. And how do we spend it?

7. conclusions
Another encouraging year; we benefited from very good weather for the Islands
We continue to focus on developing a sustainable (= profitable) business model for the Trust
Income from Government and associated sources remains under pressure
We continue to focus on reducing our costs and losses
We must further diversify our income, especially from membership and trading activates, to support wildlife conservation across South and West Wales
We need to build some financial reserves to provide resilience in the event of unexpected events