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Why? Because these 3 questions are going to be a part of any registered charity’s return to the Charity Commission for financial years ending after 1 January 2015.
Q1 In the reporting period, how much income did you receive from:
- contracts from central or local government to deliver services
- grants from central or local government?
Q2 Does your charity have a policy on paying its staff?
Q3 Has your charity reviewed its financial controls during the reporting period?
I hope that Q1 is reasonably straightforward, although if you are struggling to discern the difference between a grant and a contract this new WYCAS Good Practice Guide should help http://www.wycas.org.uk/help-advice/good-practice-guides-docs/grants-contracts-new/
Q2 it is good practice to have policies to set and review staff pay levels based on the components of the job. The intention behind this question is to encourage charities that don't have a remuneration policy to consider introducing one in order to help improve accountability to the public and demonstrate an open and transparent approach to setting staff pay. If you don’t have a remuneration policy the Pay & Employment Rights Service can help you draft one http://www.pers.org.uk/
Q3 is trying to encourage charities to safeguard resources by having robust financial controls such as cash management systems, an expenses policy, a reserves policy and payment authorisation thresholds.
Unsure as to what this means or how to implement financial controls? WYCAS are offering an E-Learning course on this subject! It will take you 3-4 hours to complete and cover the key areas, in order that you can confidently answer YES to question 3.
Aimed at small – medium sized charities, the course costs £50 to enrol giving you access to the materials over a 4 week period. Follow this link for further information and to enrol: http://www.wycas.org.uk/training/online-training-taking-care-financial-controls