Keeping Your Charity on the Right Track – Month to Month Plan to Better Governance
Posted On January 9, 2017 By mhauk
The Not for Profit sector is dealing with continued challenges from numerous directions. Changing legislation is placing a cost burden onto organisations already struggling with funding issues. Governance continues to be key in maintaining and developing a successful organisation, being alive to taxation changes has become imperative and the charity regulators are adopting a more rigorous approach.
Never has governance been more important in the third sector. We have created a tool that can help you improve your organisation’s governance in a stepped and measured way. However, there are many tools, guides and websites you can use to help you on your journey. We can also help you with bespoke training, assistance with strategy and implementation controls and so on. This guide has been put together to offer guidance and support to Finance teams, Trustees and the Senior Management teams in Not for Profit organisations. We hope you find this report useful.
The report covers the following topics:
- Month 1 – Are we an Effective Board?
- Month 2 – Effective Finance Function and Reporting to the Board
- Month 3 – Effective Financial Reporting – SORP Compliance
- Month 4 – Charity Reserves
- Month 5 – The Tax Implications of Strategic Plans
- Month 6 – Effective use of Resources
- Month 7 – Reporting
- Month 8 – Internal Controls Reviews
- Month 9 – How do Your Internal Controls Stand up to Fraud?
- Month 10 – Cyber Security
- Month 11 – Making the Most of VAT
- Month 12 – Your Month to Month Checklist
Use your ‘Month to Month Checklist’ at the start to assess where you are now in each of the areas. Once you have read a section, fill in the ‘Where do you want to be and how will you get there?’ part of the checklist. Then at the end of the year, assess whether you achieved your goals or not.
Read the full report: Keeping Your Charity on the Right Track
Don’t worry if you don’t quite get to where you want to be. If there is something that you are struggling with or would like some advice on, our specialist advisors to the Not for Profit sector are able to draw on a vast wealth of experience and expertise encompassing the full range of Not for Profit organisations including education institutes, grant making bodies, religious organisations and a wide array of charitable focuses.
If you have any questions about the issues raised in this report or would like to discuss your accounting and business advisory needs with one of our sector specialists, please email Hannah Farmborough or call on 0207 429 4147.