As I write this I’m anxiously awaiting the allocations of the £1.6bn of new COVID-19 funding. If we get the same as last time - the grand sum of £67,000 – then we may as well pull down the shutters.
That’s less than 3% of the overall financial impact that we are forecasting – which is around £2.5m depending on how long lockdown lasts and how slow recovery is. Our unallocated reserves will be virtually at zero at the end of 2019/20. A significant increase in homelessness during the last 12 months has left us with a large overspend, and the financial impacts of COVID-19 during the last few weeks of the financial year only added to our problems.
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