Stories
Local Charity Turns A BIG Financial Corner
Being a trustee of a charitable organisation can be challenging and rewarding. The same is true for managing the finances of a local charity or social enterprise.
Recently DonCAS has been helping a local charity move forward from a difficult financial situation that left it facing possible closure. The charity, which we cannot name for client-confidentiality reasons, had no accounts prepared since March 2007 and their financial records and accounts were in a tangle due to past errors.
The trustees realised that if the charity was to survive and secure future funding, they had to get control of the finances and get their accounts up to date. So they cut expenditure to the bone and asked for help from their local development trust. With expert help, the Trustees soon got the charity’s financial records in enough order that year-end accounts could be prepared and ‘independently examined’.
Now armed with healthy accounts for the years to March 2008 and March 2009, the trustees can raise more funds and attract new partners. The Treasurer is now being supported to install a simple, effective and free computerised accounting system. Building on verified fund balances from the accounts, he will be able to:
• manage the funding streams accurately and efficiently;
• provide the trustees with timely and easy to understand finance reports;
• and ensure that the trustees never again have to suffer the shock and stress of discovering and having to sort out serious financial problems.
By working closely with local community accountancy specialists, the trustees have overcome major obstacles and can feel proud and rewarded by helping this charity get on the road to recovery. They may have reduced their financial work load and accountancy bills by as much as 30% too.
To find out if we can help you improve your financial health and save time and money, please phone Meshach, Sharon or Rupert on the DonCAS Help-Line 01302 347197 or email doncas@doncastercvs.or.uk
