Minutes – Finance Feb 2020

Minutes of the LSMC Finance Team 9th Feb 2020


Present: Peter Burke (PB), Adam Hart (AH), Jane Hope (JH), Jez Taylor(JT)

  1.   Lease

JT has had initial conversation with OddFellows (OF) explaining g our current concerns, they are open to a continuation of our lease on existing,  if not reduced terms . The team agreed not to request a break clause-but rely on an understanding relationship with OF

  1.   Review of current finances and outlook

Deficit is down a bit on budget but as not much rxpected for the next month and membership decline of 15% with corresponding reduction in dues the likely outlook is for a £9K deficit this year.

We need to be prepared for further reductions membership and dues- from both ends of the spectrum

Any such deficit manageable for this and next ear from our reserves ,as previously communicated

  1.   Ideas for Strategic Responses to outlook

The finance team is not being complacent about this and have come up with  several courses of action to deal with this outlook, for the attention of all local members to help

      There is a wide open goal to actively explore daytime uses by appropriate other groups –community-arts-welfare groups etc etc – contacting the Lewisham council cmmunbity networks, estate agents, and other dharma-health-social-cultural networks

      Jez to get agreement from OF for a board advertising the availability for daytime use outside the centre

      We should invest in top quality web design and technical resourses for a new front of house webpage ( new “skin”)-which seems possible even within the existing IT centrally controlled system ( ie as in DCl) . Could teams and members please make suggestions as who to commission. This will only work as well as any such designer is briefed by LSMC


  1.   Oxford centre

PB to contact Oxford Centre to give 6 month notice of withdrawal of support and explain reasons- (financial and equalities issues)

  1.   Honorariums

Agreed the revise rates as suggested by JH and JT 

  1.   Jane Ward reply

View is that we should not spend any more time on this and therefore to send out letter as to be agreed by council on 10th Feb without any more ado.