Our motto is: “Every penny that we raise in the Park stays in the Park” and all our commercial event revenue is ring fenced to support the park.
Commercial event revenue was the Trust’s first source of income and it remains one of our most important. This initial infusion of revenue capitalised the Trust and provided confidence that our business model would succeed, allowing us to begin to sustainably fund our operations. This allowed the Trust to rent an office, hire staff, and take other necessary steps in establishing a full-time, professionally-managed organisation. Importantly, it also allows us to begin the handover process from London Borough of Bromley, with a mission to improve the park, as outlined below.
The Trust is committed to responsible, sustainable financial stewardship to ensure that we will have the ability to maintain the park to a high level in times both good and bad. The Trust currently estimates that to increase the current level of investment in the park and ensure that the park is maintained to the appropriate standard will mean doubling and possibly tripling the amount that is currently being spent in the park.
In addition to paying for the day-to-day maintenance needs of the Park, the Trust needs to raise a significant sum to maintain its financial reserves in case of unplanned reductions in income. As we all know, economic downturns can and do happen, and when they do we want to ensure that we have the resources to continue maintaining the park to a high level regardless of economic conditions. We never want to be in a position where we have to decrease the level of maintenance in the park due to having limited resources, or to let new or existing investments in the park fall into disrepair because we do not have sufficient financial resources to maintain then.