# FAC finances --- Last year... --- ...was not good. --- Income was up a bit. Expenditure doubled. --- Why? --- Apprenticeship starts collapsed Skills Bootcamp funding gap Staff numbers up --- ### FAC core numbers | | 2022/23 | 2023/24 | | -------- | --------: | --------: | | L4 Apprentice starts | 27 | 11 `*` | | Staff, year end | 6 | 10 | | Income | £340k | £405k | | Expenditure | £250k | £500k | ##### * including 4 FAC apprentices Our reserves are spent. --- What about MLX? --- Financially more sustainable Modest net contributor Income will rise But so will costs --- What we need to turn it round --- ## Two breakeven scenarios | | SB | Apprentices | Income | | -------- | --------: | --------: | --------: | | No SB funding | 0 | 60 | £560k | | SB funding | 48 | 36 | £560k | --- With SB funding we can break even this year. Without SB funding, it may take us longer. --- :shrug: SB funding remains uncertain ---  But opportunities pending --- We need to hold our nerve. --- And not get distracted. --- That's it.