Can they survive without time reports? Definitely! Most JDubs will look favorably on no longer having to struggle to get their 10 hours to be "average".
I was kinda surprised because they have always put great emphasis on having that 10 hour average to qualify as a MS or elder, but more recently it looks like they have lowered the requirements to just being capable of fogging a mirror.
What they cannot survive without is MONEY. After cashing in on $1.5 BILLION$ (or more) from the sale of the Brooklyn real estate, I find it hard to believe they are really desperate for ca$h, but they sure sound desperate. While still a JW I was embarrassed by their begging (since they said that would indicate a loss of Holy Spirit), but they sure are groveling constantly now for money. Hard to believe that after the severe downsizing and slashing of their costs (almost no printing; staff size greatly reduced) that their expenses are higher than their receipts (ie, definite "rental fees" of assembly halls and now even guaranteed contributions from every congregation.
There is no transparency. It will take someone in the finance office defecting to know more.