Trustees – would you be able to manage any financial difficulties that could affect your charity?
The Charity Commission has updated its guidance on managing financial difficulties.
CC12 recommends that trustees review their charity’s financial performance against budget and future projects on a regular basis, at lease once a month. The review would of course depend on the size and nature of the charity and give early warning signs of any future financial difficulties. The publication explains the trustees duties with regards to protecting charity assets, what it means if assets use is restricted, when a charity may face insolvency and when trustees may be liable for any debts.
Date: 20th April, 2016
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