4. Financial Performance
4.1. The total cost over three years of the project running from 1st January 2016 to 31st December 2018, is £263,474 and this comprised of:
- £171,324 from Sport England
- £80,000 from Community Sport (South Gloucestershire Council)
- £12,150 in-kind contributions from partners
4.2. The CSAF funding cycle is organised around receiving six-monthly payments due on 30th June and 31st December for each of the three years. Payments are released on satisfactory completion of online monitoring and evaluation reports, along with a verified financial reconciliation.
4.3. The financial performance for Year 1 is reported as follows:
|Annual SportsPound Project Cost Reconciliation 01/01/16 – 31/12/2016|
|Year 1 Budget||Actual Spend to June 2016||Actual Spend July 16 to Dec 16||Year 1 Actual||Year 1 Variance|
|Staff Costs (incl on costs)||48,606||29,348||33,398||62,746||-14,140|
|Hire of facilities||3,480||133||126||259||3,221|
|Coaches fees, expenses||10,100||347||453||799||9,301|
|Other (Activator Delivery Budget)||5,000||0||0||0||5,000|
4.4. The above table illustrates that Year 1 delivered an under spend of £9,684. The following explanation is provided for each budget heading with a variance (+/-) £500:
- Staff Costs (overspend): There have been significant increases in staffing costs as the Activator team has attempted to increase uptake through promotional events (27 attended over the summer in 2016 alone). In addition, the amount of time spent issuing, collecting and processing vouchers has led to a significant increase in team administration. A move away from paper registrations (now 90% digital) should see this figure drop significantly in Year 2.
- Hire of Facilities (underspend): The providers are underwriting the facility costs and taking payment in voucher rewards. This will change in Year 2 as we look to expand the programme and develop more of a participation pathway linked to transition ‘clubs’.
- Promotion / Publicity (overspend): Purchase of a gazebo plus promotional ‘pop-up’ banners were produced to raise the profile of the programme and increase brand awareness. Please note that these materials will last for the duration of the whole project.
- Coaches Fees / Expenses (underspend): The model on which the implementation plan was based has not played out fully, with a small portion of activities on offer having been developed from scratch. The Activators have negotiated the redemption of vouchers for existing sessions, and where possible developed links into exit routes. This will change in Year 2 as we look to broaden the offer and establish a range of transition programmes as well.
- Transport/Travel (underspend): Following an initial period where Activators were travelling around their neighbourhoods to set up networks, the team have located themselves centrally and reduced their travel and transport budget significantly.
- Activator delivery budget (underspend): This underspend will pick up in Year 2 now that the team has established itself within community settings. There is a high level of trust and commitment within each SportsPound community setting and the team is to be tasked with developing exit routes and transition programmes to ensure the project does not stagnate.
- Rewards (Provider and Nominator- underspend): Low levels of participation equates to a low level of reward payments being completed in Year 1. A total of £777 (just over 10%) of the rewards budget has been spent which mirrors the low (18%) throughput target achieved (throughput of 1681 against a target of 9,200) and £7,519 or rewards payments were not necessary (this does not include the bonus payments for providers).
4.5. An application to Sport England has been made to carry forwards the under spend and develop digital resources to help provide a paper-free voucher system for the SportsPound project.
4.6. In Year 2, the focus will be on spending as per the headings agreed in the budget and this will involve the development of a profiled budget for each month and for each quarter, to ensure the delivery budget remains balanced.