The Chairman and The Board of Trustees
Summary of Role
To support the organisation by ensuring ongoing financial viability and integrity, through monitoring and maintenance of the organisations financial affairs. Reporting regularly to the Board of Trustees and National Executive Committee on the organisations financial position and ensuring proper financial records and procedures are in place in order to meet the organisations constitutional responsibilities in line with guidelines as required by the Charities Commission and English Law. Ideally should be a Chartered Accountant.
1. As a member of the Board of Trustees, to give advice to the organisation in relation to financial matters in line with the objectives and constitution of the organisation and advising the National Executive Committee on the financial implications of any suggestions/decisions made on the use of the organisations resources.
2. To ensure written financial policies and controls are in place, and to follow these agreed financial policies and controls ensuring the assets of the organisation are protected. These policies and controls to be reviewed on an annual basis.
3. To be responsible for ensuring the accounts are audited on an annual basis by the approved auditor and should any recommendations result from the audit, to ensure that these are noted by the trustees and appropriate action taken to ensure the ongoing financial integrity of the organisation.
4. To be responsible for the preparation of the annual budget for approval before the beginning of the new financial year and present audited accounts to the Annual General Meeting responding to any questions raised.
5. To be responsible for preparing annual accounts for submission to the auditor and in an appropriate format to meet legal and disclosure requirements.
6. To be responsible for providing quarterly management accounts including comparison of actual income and expenditure against the set budget.
7. To ensure the financial stability of the organisation by:
a. having overall responsibility for the accounting and balancing of all cash and monies within the administration office
b. close monitoring of income and expenditure by maintaining a book keeping system
c. ensuring regular and accurate bank reconciliations
d. maintain accurate records of paid and unpaid bills
e. ensure appropriate requisition forms are kept with settled bills
f. ensuring all income due is received by liaising closely with any trustees/post holders responsible for receipt of membership/other fees on behalf of the organisation
8. Ensure maximisation of interest received on capital held by monitoring reserves.
9. To ensure the benefits of Gift Aid or other items of legislation are monitored investigated and make recommendations as appropriate.
10. To ensure that the organisation complies with all necessary constitutional, financial and legal regulations including the Charity Commission and wider English law.
11. To ensure that necessary returns to the Charity Commission and in relation to VAT are made within the set timescale.
12. To ensure that all necessary insurances are maintained.
Updated November 2010