20% of all donations received will be used for grants unless the donor requests that we use all of the donation either for grants or for the hospital fund. The budget assumes that all donations will be unspecified.
This first budget also assumes that no money will be spent on the hospital project during the five year plan. As the costs of this project are not yet known and the trustees have not given the go-ahead for phase 1, they have not been factored in. Subsequent budgets will however take account of any costs related to this project.
EBFAM is a Company limited by guarantee and has a financial year which runs to the calendar year. EBFAM is registered as a charity (granted 28/October 2005) and is actively fundraising, hence it is entirely based on estimates. In subsequent years we will have historic data available and the budgets will reflect this. To see how we are progressing in relation to each budget, look in news.