money

Monitoring Results

You may need to make further cuts as a result or make other changes in your operations...

There is no point in planning your budget and in gathering the information if you do not use it. You should keep simple spreadsheets of actual expenditure and income and actual cash flow if you do not have a bookkeeper/accountant do this for you. Have a review each month of your own numbers, even if you have an accountant to prepare quarterly management accounts only. Keep a very close eye on the cash balance, but also on the numbers generally – are they up or down on expectations in the budget – why?

Guidelines on Reserves Policies for Charities (March 2016)

Income needs to be spent promptly in line with prudent management of the finances.  

Finance

 Good financial management will keep your organisation efficient and effective...

Basics of Accounting

There should be no surprises for you in the final year accounts.... 

Why keep accounts and what accounts to keep?

Once you collect money for a cause, you know it is not yours to do what you wish with, to spend on treats or food and clothing, lose behind the sofa or invest in a horse race...you need to treat the donated money with care and be able to account for what you got and what you did with it.

Budgeting

Find out as much as you can about what is to happen and use your judgement as an organisation to work out a best case and a worst case scenario... 

In good times, you may have paid relatively little attention to budgeting or to monitoring outcomes against budgets and available resources, apart from project budgets and outcomes that y

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