Financial Performance

In 2022 Jersey Sport was awarded an operating grant of £2,142,423 by the Government of Jersey through our Partnership Agreement, which included the Travel Grants (restricted funding) sum of £125,0001 . However, actual cash received was only £1,962,423, due to retained underspends of £180,000 from 2021. This is the first occasion where the Government of Jersey have agreed an underspend carry forward.

An unrestricted underspend of £612,493 (which included the £470,485 legacy income) was posted in 2022 and this will be used to finance a gap in the operating budget in 2023. The organisation’s structure and operating budget will be reviewed in 2023 to ensure sustainability of the organisation, accounting for inflationary pressures.

Income Budget and Expenditure

In 2022, Jersey Sport was named as a beneficiary in the Last Will and Testament of the late Valarie Todd (nee Guy). Jersey Sport and the Board intend to use these legacy funds for the purpose of developing wider participation in sport across the island.

Expenditure in 2022 was in line with expectation however income varied significantly due to the aforementioned legacy income. The sponsorships and donations have been separated out and there is further information provided on each area in the financial statements.

Jersey Sport is committed to developing a fundraising strategy and implementing this over the next delivery plan period of 2023-2026. Our Strategic Plan 2023-2026 details the areas we will need to prioritise, how we will do so and the outcomes we will deliver against.