“Business as usual is simply not an option”
(Dame Suzi Leather, Chair of the Charity Commission)
The details of the Charity Commissions financial settlement for the next four financial years have been announced. This includes a budget cut of 33% (in real terms) by 2014/15. The capital funding is also being reduced by 50% against the 2010-11 baseline throughout the spending review period.
How does the Charity Commission plan to manage these reductions in the near future?
o Determine where the key priorities lie; by conducting a review of their strategy and operating principles.
o Reducing any unnecessary costs by streamlining operations, ultimately making them more efficient.
o A public consultation will take place in the next few days to seek opinions from a range of stakeholders, both within and outside the charity sector.
It is expected that there will be a company restructure involving staff redundancies. However, any final decisions regarding the potential restructure will follow the strategic review (giving everyone who values the charity a chance to express their opinions), this will take place in early 2011. Following this strategic review, a reassessment of the 2006 Charities Act will take place during 2011, which aims to provide a re-evaluation of the legislative framework. For further information on this please visit the Charity Commision website.
The Charity Commission intends to develop their operations within the resources that they now have available whilst maintaining the confidence and trust of the public.
Date: 22nd October, 2010
Articles from this Author
1st August, 2017
Charity Governance Code
7th July, 2017
ICAEW Audit insights: charities – positive impacts in challenging times
21st November, 2016
Academies update-Academies Financial Handbook 2016
20th April, 2016
Trustees – would you be able to manage any financial difficulties that could affect your charity?
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole