The aims of the Financial Policy are to:
- to protect the charity’s assets;
- to identify and manage the risk of conflicts of interest, loss, waste, bribery, theft or fraud;
- to ensure that financial reporting is robust and of sufficient quality; and
- to ensure that the trustees comply with charity law and regulation relating to finance.
- The trustees will manage the assets of the charity in accordance with the Weare Giffard Village Hall Trust Deed dated 28 October 1946.
- The trustees will insure the Trust Property with a reputable Insurance Company on an ‘All Risks’ basis for its full rebuild value; the sums insured shall be reviewed at each policy renewal.
- Financial records will be kept to ensure that Weare Giffard Village Hall meets its legal and other obligations under Charity Law, Revenue and Customs and common law.
- The financial year will end on 31 March and accounts for each financial year will be drawn up and approved by the Annual General Meeting held in April.
- The accounts will be independently examined by an auditor or examiner of accounts appointed by the AGM.
- The trustees shall approve a Reserves Policy and determine the extent and nature of reserves designated as Restricted Funds.
- All funds will be held in accounts in the name of Weare Giffard Village Hall / Weare Giffard Village Hall Improvements at such banks and on such terms as the trustees shall decide.
- The treasurer shall present a financial report to every meeting of the trustees.
- All expenditure shall be properly authorised and documented; all income shall be paid into the bank without delay.
