Wednesday, May 27, 2009

Worse than I expected

We were warned at the last meeting of the Regional Board that the drop in income from donations would mean the National Society would have to make cuts in annual spending, so this doesn't come as a complete shock. However a planned saving of £54 million is fairly steep, even spread over a three year period. Normal annual turnover of the National Society varies around the £100 million mark, so we're looking at a cut of about 18%, rather than the 9% that was originally suggested as a probable figure.