The Village Hall Management Committee rely on two streams of income :-
Hall Hire Fees - Used to cover the day-to-day running costs of maintaining the Village Hall, including cleaning, maintenance, repair, utilities and insurance.
Fund Raising - Used to cover improvements to the Village Hall.
With income from the two revenue streams being variable it is the aim of the Village Hall Management Committee to maintain a reserve balance for each financial year (January to December) equal to 50% of the total income reported in the previous year's Statement of Accounts, with a minimum balance of £3000.00.
The reserves may be called upon and utilised when day-to-day running costs exceed the hall hire income, where unforeseen major repairs occur and to support major improvements to the hall.
Where reserves have been utilised and the balance falls below the minimum reserve amount, income from future fund raising events will, in the first instance, be applied to the reserves until such time the minimum reserve balance is restored.
However, the Village Hall Management Committee reserve the right and at its sole discretion can allow the reserve balance to be held at an amount below that of the stated minimum reserve amount.