Finance Team Meeting Minutes 7th October 2020

Present :
Adam Hart (notes), Jane Hope, Jez Taylor

1. Budget 2020-21
The provisional deficit budget presented by Jez was agreed for bringing to the next
council and trustee meeting , with a number of caveats given the multiple
uncertainties that we are subject to, particularly not having any precedent to predict
programme income (as the P&E team have noted) and the fact we have not yet
reached final agreement with Oddfellows on the rent .
What is clear that our reserves do not allow the current deficit funding to continue
into 2022-23, and much will have to change and be developed for LSMC to survive
and flourish –financially at least-in the future. This needs discussing at council and
trustee level and in communication with members

Jez will draft a response for endorsement by Trustees setting out to Oddfellows that
we need a minimum of a year’s term at reduced rent –not the 6 months they have
proposed , especially because the revised Covid impact scenario is much more
severe than it might have looked when they wrote to us last month. We will also
request that the rent offer of £10,000 is what we can best afford.

3. SJ proposal to run weekly Acupuncture clinic at LSMC
Agreed in principle: Jez to finalise the agreement with her.

4. Assistant Post
The interviews are in hand and an appointment is due next week.

Agreed that financial planning, marketing and communications is contingent on
review of LSMC council structure and a forward strategy for the centre.

Date of next meeting: TBC