Managing unit
funds
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Charity registration (not
applicable in Scotland)
The Guide Association is incorporated by Royal
Charter and is a registered charity. Full details about Girlguiding
UK's Charity Registration can be found here
Budgets
A budget is a forecast of the amount of money
required to run the unit. It will normally be based on the past
year's experience, while considering the next year's plans. Drawing
up a yearly budget enables units to plan effectively and ensure all
the activities planned can be carried out.
Listed below are some areas that need to be
considered when budgeting.
Unit running costs
- materials for activities
- books
- badges
- Leader's training fees
- annual subscriptions - could be included in the budget or
parents could pay separately
- new resources.
Meeting expenses
- rent of premises
- lighting, heating and so on
- additional equipment insurance where necessary.
General expenses
- postage
- telephone, including mobile telephone
- stationery
- transport costs – mileage or public transport (for trips and
for adult volunteers travelling to and from the unit meeting
place).
It is then necessary to decide how much of the
income needed to cover the expenditure is to be met by members'
regular subscriptions and how much from other sources, such as
fundraising or Gift Aid. Special projects, such as a camp or
holiday, will need to be budgeted separately.
Note: if an adult member choses not to claim certain expenses,
such as the cost of her travel, these expenses can be claimed and
then donated back to the unit, allowing Gift Aid to be
claimed. This is a good way of generating extra income for the
unit.
Handling the unit's
money
Always:
- bank any money received as soon as possible
- keep the unit funds completely separate from your own
money
- keep cash in a safe place, preferably under lock and key - unit
funds will probably not be covered by your household insurance
policy
- keep your records up to date
- keep records secure, remembering to password protect them if
you store financial records electronically.
Never:
- borrow or lend money from unit funds
- keep more cash in hand than you are likely to need for
immediate payments
- spend more money than you have.
Maintaining unit
accounts
The unit Leader is responsible for managing the unit's funds. It
should be noted that all paperwork connected with managing the
unit's funds needs to be kept for seven years following the
financial year-end. See also: Record
Keeping
Unit book-keeping
requirements
(not applicable in
Scotland)
|
Gross income or expenditure
band
|
Units
|
Registered charities
(may be District, Division, County or
Country/Region)
|
|
Up to £25,000
|
All CHQ requirements. Statement of receipts
and payments with a statement of assets. An independent review
should be carried out.
|
Database return required. Accounts and reports
may be requested.
|
|
£25,001 up to £100,000
|
All of the above apply. Accruals accounts may
be produced if preferred.
|
Database return, annual return, report and
accounts must be supplied to the Charity Commission.
|
|
£100,001 and over
|
Accruals accounting.
|
As above.
|
Page last updated: 3/21/2012