After four years of consistent growth, 2020’s challenging business environment has resulted in a reduction in revenue across the CII Group, which is likely to result in a deficit of £6-7m.
The CII’s 2021-2023 business plan focuses firmly on restoration of revenue, with return to pre-pandemic revenue levels by 2024 targeted.
To address the deficit and aid in a swift financial recovery, the CII has implemented cost-saving measures. All departments have undergone strict and rigorous budgeting and financial planning for the year ahead, and many non-business critical programmes and projects, and their associated costs, have been deferred.
As you may be aware, this has been discussed with the Local Institute National Forum (LINF) and initial feedback on this topic has been sought from across the network. All Local Institutes are now invited to consider a proposal for reducing grant payments in 2021.
The full proposal along with funding scenarios and the FAQ document can be downloaded below.
The feedback received from LINF and the local institute network has informed the contents of this proposal and the associated FAQs document.
Your RMM will be in touch in due course to discuss the proposal and your institutes decision.