Buckinghamshire Railway Centre

Forward Plan 2015-2018

 

Name of governing body: Board of Trustees – Quainton Railway Society Limited

Date this Forward Plan was approved: 8th November 2014

Date this Forward Plan will be reviewed: 8th November 2015









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Governance and Management (Continued)

Management Structure

The Board of Trustees, elected by the membership, are in overall control of the Museum. All decisions that they make regarding the Museum site and collection are then ratified by the Museum Management Committee, who are internally appointed. This system insures that the views of the membership are represented but kept in line with Museum guidelines and disciplines.

Both committees are in communication with the paid staff/volunteers who action the decisions.

Financial management

The museum generates income from visitors, private functions and engineering work. Membership fees cover the administration costs only.

Our financial situation changes from year to year, due partly to engineering projects and fluctuating visitor numbers. We have not always been able to contain the cost of engineering works and although the situation is currently under control, we have had to borrow funds in order to meet our financial targets.

Our financial management is complex due to the many engineering and restoration projects we undertake for private owners as well as for ourselves. These projects sometimes distract us from our main purpose of operating a visitor attraction, and also absorb significant sums of money which are not always available from our own funds. We need to take a more robust view in planning our financial commitments for the medium and longer term, to ensure that engineering projects are only undertaken when commercially viable and fully funded from the start.

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