Managing Money

The whole committee of your organisation is responsible for deciding how the money will be raised and spent, and ensuring that proper records are kept.
Sometimes the committee leaves the treasurer to get on with it
alone, only showing an interest at the AGM or when something
goes wrong. This is worrying for the treasurer and also means that
the organisation does not make the best use of its money.

Your organisation is responsible to all its members for any
money which it receives and spends and every member has the right
to know how the money has been used.

Keeping track of your organisations money means that you can:

• know how much you have available

• make the best use of your money (your records will help
  you work out how much money the association needs next year
  and then budget accordingly) plan your fundraising

• (if you apply for a grant to the Council, lottery or a charitable trust,
  they will ask to see accounts as proof that the orgnaisation is
  well run and will use the grant properly.

For information about the policies, processes and controls that you should
have in place to ensure that your organisation’s finances are managed
effectively go to the managing money section.

Published by Brighton Resource Centre