Charity 265636

Financial Records and Accounts:-

1) Financial records must be kept so that the Trust meets its legal and statutory obligations, and so that the Trustees have proper financial control, in order to meet contractual obligations and the requirements of funders.

2) The accounts must include a cashbook analysing all the transactions appearing on the bank accounts, and a petty cash book for cash payments made.

3) Accounts must be drawn up at the end of each year, independently audited, and presented to the Annual General Meeting.  An annual return must also be made to the Charities Commission.

4) At the AGM the Trustees will approve an expenditure budget for the following year, based upon forecast income from hire fees. Proposals for grant funding for specific projects will also be agreed.

5) A comparison of actual income and expenditure against the budget should be presented to the Trustees every three months.

Banking:-

1) The Charity will bank with Nat West Bank and accounts will be held in the name of Severn Beach Village Hall & Playing Fields Trust.  A current account and an investment/deposit account will be maintained.

2) The bank mandate will be approved and minuted by the Trustees at the Agm. At least four Trustees will be signatories, with any two to sign any transaction. The Treasurer may not be a signatory.

3) The Charity will require the bank to provide statements every month and these will be reconciled with the cash book at least every three months.

4) The Charity will not use any other bank or financial institution, or use overdraft or loan facilities.

Income/Expenditure:-

1) All monies received will be recorded promptly and banked without delay. The Charity will maintain files of documentation to back this up.

2) The aim is to ensure that all expenditure is on Trust business, is properly authorised and that this can be demonstrated. All expenditure must be approved by a meeting of the committee.

3) The Treasurer will be responsible for holding the cheque book, paying-in book and other banking and accounting documentation.

4) Blank cheques will NEVER be signed.

5) The relevant payee's name will always be inserted on the cheque and the cheque stub before signature, and the stub must also be initialled by the two signatories.

6) No cheques should be written without original documentation. Every payment will be evidenced by an original invoice. That invoice will be retained and filed, having been referenced with cheque number and date paid.

7) Any payment for personal expenses will be on the basis of a personal invoice with receipts attached.

Wages and Salaries:-

1) There will be no employees. All work done for the Charity will paid for on receipt of suitably itemised invoice.
Where work is done by volunteers reasonable expenses will be payable (see 7 above).  Mileage allowance may be claimed at the rate used by P&SB Parish Council

2) There will be no Petty Cash held.

3) Cheque signatories may not sign a cheque payable to themselves, or to a body that they have an interest in.

Other rules:-

1) The Charity does not accept liability for any financial commitment unless properly authorised. Any orders placed, or undertakings given, are the responsibility of the individual making them, unless authorised and minuted by the Charity.

2) In exceptional circumstances such undertakings may be made with the Chair's approval who will then provide full details to the next meeting of the trustees. This will only occur when the matter cannot wait until the next scheduled meeting.

3) All fundraising and grant applications undertaken on behalf of the organisation will be done in the name of the Charity, with the prior approval of the Trustees.

4) The Charity will adhere to best practice in all matters relating to its finances.

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www.severnbeachvillagehall.co.uk

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