Have Other Charities Faced Sudden Bank Account Closures? Seeking Advice and Recommendations
Eve Mapanda
Admin, Ops, IT & Finance
Can unused admin grant funds be reallocated in our CIC? (Anonymous post 🤫)
Ocean King Staff Senior Community Executive at CharityConnect Posted 3 days ago
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This question is from a member of our community that wishes to remain anonymous:
Our CIC received Lottery funding for two years. Currently, all the Directors of the company are volunteers and have not taken any fee or salary. However, within the budget there is money for admin and coordination. As the Directors are not claiming any fee for their time - being volunteers at this point - would the CIC need to pay back the money to the funder or could it stay within the CIC and used for other purposes to benefit the work of the CIC?Â
How would we show this in our accounts and to the funders - any advice on this would be very much appreciated. The admin and coordination work for the project which the grant was given has been done by the Directors who are not claiming any money at this point for their time and would like to use this money to help the work further.Â
Please help! Thank you.
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