Understanding Our Finances
How does BWSW finance itself? What do we get for our membership subscriptions? How are our membership fees used? These are questions often asked and of course they are good questions to ask …
The answer lies in understanding where our money comes from and how it is used to support the many activities involved in running our sport. As is the case in most voluntary / not for profit organisations we have more demands for funding than we are able to support. The aim is to strike a balance that enables us to support all the elements of our current strategy. We operate in four year funding rounds from which an Operational Plan is produced which sets out the priorities for the current year. Our budgets are structured to ensure that we support these priorities through the three core activity areas; Business, Development and Excellence.
In a typical financial year our income and expenditure can be simply summarised as follows (however a full financial statement is also available below):