CASH-strapped Cardigan Swimming Pool must be steered through more troubled waters before reaching some stability.

That was the over-riding message from Monday afternoon’s AGM when it emerged that the complex requires another fund-raising push following repeated mechanical setbacks over the past three months.

While Chair of Trustees Matt Newland revealed an overall cash deficit had been slashed by £20,000 despite rising costs, a Go Fund Me page was still £12,000 short of reaching its match-fund target of £30,000.

This was to offset the breakdown of ageing equipment which had seen both pools closed on and off due to heating issues since September.

“We are now facing cash flow problems due to a lack of income and rising costs,” Mr Newland added.

Having confirmed trustees would stand down in the New Year to hasten a re-structuring, Mr Newland said Cardigan’s planned new Wellbeing Centre – the location of which has still to be decided – would prove key to the pool’s survival.

“We strongly believe that the best location is here at the pool and such a resource would secure its future,” he added.

“If Ceredigion County Council spend £5 million on a new centre in Cardigan and the pool closes through lack of investment then they’re going to look pretty stupid.

“While we have made a good deal of headway in reducing losses of previous years, plant failures have caused a lot of closures.

“A successful round of fund-raising was followed by a wave of unforeseen costs which really hurt us financially.”

During some terse exchanges between trustees and those on the floor, claims were made of an over-worked skeleton staff struggling with poor morale.

Mr Newland said the next step would be to set up a bank account prior to becoming a limited company and applying to the Charities Commission for charitable status with all assets duly transferred to the new company.

“I have been Chair of Trustees since 2016 which is too long,” he added. “I would’ve stepped down sooner, but there has not been anyone willing to take up the role.

“I have no doubt that a new board of trustees could bring a new lease of life to the place.”

A Sport Wales grant of £233,000 administered by Ceredigion County Council would finance a new air handling unit and replacement boilers along with a new roof over the toddler pool, he added.

All contractors had been paid and the complex was almost fully match-funded.

Last year, Mr Newland gave a stark warning that the pool – a registered charity which receives no outside funding – was in danger of closure without ‘significant’ investment.

The pool is now closed until Tuesday, January 2 due to work being carried out for the Sport Wales grant projects.