St Elizabeths Centre Annual Report End Dec 2022 FINAL - Flipbook - Page 28
Risk Management
All major risks to which the Charity is exposed have been assessed
including those relating to the speci昀椀c operational aspects of the
Charity, its investments and 昀椀nances. The Trustees believe that by
examining the operational and business risks faced by the Charity, and
by monitoring reserve levels and ensuring proper systems of 昀椀nancial
control are in place, they have established effective procedures and
safeguards to mitigate all reasonably known risks.
The most signi昀椀cant risks faced by the Charity are:
• residents suffering harm;
• a serious safeguarding incident occurring; or
• a decline in occupancy or income from local authorities and central
government, being the Charity’s main funders, resulting in lower
referrals and/or pressures on fee levels.
The Charity operates a system of annual planning and budgeting.
Performance is monitored against the approved budget with the use
of 昀椀nancial and non-昀椀nancial metrics and targets.
Risks are identi昀椀ed by the Senior Leadership Team and senior managers
and the likelihood and impact on the Charity is assessed. Mitigating
actions are identi昀椀ed and kept under review and recorded in the risk
register.
Mitigation examples for the above risks include:
• Ongoing safeguarding training in place to ensure effective
reporting and recording
• Continue safeguarding spot checks
• Development of strong market position through external
campaigns
• Maintain and improve on regulatory rating for Children’s Home and
School
• Improvement of offer in School and Children’s Home
• Prioritise admissions
• Proactive engagement with CQC and other external stakeholders.
Solvency statement
Trustees have conducted a thorough risk assessment alongside
detailed projections covering the period to December 2024 and are in
advanced talks to secure a commitment which ensures that the Charity
has adequate funds to continue trading.
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