Finances
The MSC is a registered charity and non-profit organisation and depends on various sources of funding. From 1 April 2010 to 31 March 2011, the MSC’s total income was £12.7 million. From 1 April 2010 to 31 March 2011, total expenditure was £9.4 million. The MSC Board recognises it as generally good practice to hold reserves as a protection against any financial difficulties in the future. A reserves target of 6 to 9 months’ cover is considered to be necessary, at least as an aspiration, given the MSC’s lack of membership and uncertainty of its various income streams.
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