NAVCA publishes annual report and accounts

NAVCA's annual report and accounts were approved at the AGM held in Birmingham on 3 November.

The 2015/16 accounts are the first year of the boards current three year strategic plan 2015-18. The strategic plan budgeted to underwrite deficits for the three years to 2018 moving towards a balanced budget. The trustees took this decision in order to continue to deliver our objectives in a climate of unprecedented austerity.

The total deficit of £121k, before accounting for recognition of the pension liability under FRS102 and unrealised investment losses was lower than budget. Since the annual accounts were published NAVCA’s investment portfolio has increased in value.

The annual report shows NAVCA has been much more successful in engaging members in a variety of ways. Although NAVCA feels they are on the right lines they have identified four areas for further progress.

  • Building the movement
  • Provide more challenge and leadership
  • Campaign and champion social  action
  • Constantly promote the unique role of infrastructure

 Neil Cleeveley, Chief Executive of NAVCA, said

“We are determined to remain true to the principles we set out at our AGM. It is clear that the future is local and that national bodies need national bodies that can connect to the local in the way that NAVCA can.”

“We are working against a difficult backdrop but in these uncertain times we must be bold in asserting the values of our movement; not least, that local infrastructure is at the heart of local social action.”