One of the stated aims of The Civic is self-sufficiency. Whilst this has always been financial sustainability, it has also applied to other areas of the organisation and its operations. All the work undertaken at the venue since the renovation has come from our resources.
We have received funding assistance for a handful of projects in the hall since we established our management of the hall. This was for stage furniture, signage, and a new lighting desk. This funding amounts to less than £10,000.
From day one we adopted a policy of beg, borrow, and salvage, acquiring equipment that was often second-hand, or pre-used. Almost every piece of equipment in the venue had been, essentially, recycled in one form or another.
Whilst this helped us through the first few years, this inevitably leads to equipment failing and costs rising. Sometimes the ultimate cost of replacing failing parts adds up to cost more than the price of a new replacement. Factor in guarantees from manufacturers or suppliers and the long-term costs can drop.
That does not mean that we can just snap our fingers and replace ageing equipment without due consideration to the return of that investment. We need to remain flexible in terms of investment, but ensure that all equipment is taken care of to prevent breakdowns, etc. This means regular inspections and maintenance where appropriate.
It also means that when we purchase new equipment or assets that we need a projection of its “life” and ensure plans and finances are in place to replace them when that time comes, or take steps to extend that life at a cost effective ratio. If something doesn’t need to be replaced at the end of its planned life, we place the money to replace in reserve so that when it does need replacing it can be without impacting on the operation of the Charity.
We will also consider “cost per use” systems which should lessen the Charities exposure during slower income periods in the year.
Measurable Outcomes
The civic stourport