Sash Tusa Vice-Chairman Chair of Finance Committee Financial Review Sash Tusa Vice-Chairman Chair of Finance Committee

WTSWW key financial issues Finance Committee reports to the Board of Trustees Meets quarterly to monitor finances, support CEO and senior management team Areas of focus include performance vs budget, potential expenditure on new reserves and other assets, pensions, investments, Trust liabilities The Trust remains in transition from a period of financial recovery towards a sustainable, financially-balanced organization Transition has lasted longer than expected due to changes in external funding, especially from WG Biggest structural challenge is to build up financial reserves

WTSWW finances have stabilised after a very tough period

WTSWW: where does our income come from?

Grants have fallen, but trading income is up

…. And how do we spend it?

2016-17 conclusions Another encouraging year; we benefited from very good weather for the Islands We continue to focus on developing a sustainable (= profitable) business model for the Trust Income from Government and associated sources remains under pressure We continue to focus on reducing our costs and losses We must further diversify our income, especially from membership and trading activates, to support wildlife conservation across South and West Wales We need to build some financial reserves to provide resilience in the event of unexpected events