Banks accounts for CIC members group of therapy dogs
Wendy Withington
Leadership & Governance
{{badgesCtrl.userFirstName}}'s badges
Helper’s Badge Level One
Level 1 of 5
This badge is awarded to members who have had a comment marked as Helpful
Helper’s Badge Level Two
Level 2 of 5
This badge is awarded to members who have had 5 comments marked as Helpful
Helper’s Badge Level Three
Level 3 of 5
This badge is awarded to members who have had 10 comments marked as Helpful
Helper’s Badge Level Four
Level 4 of 5
This badge is awarded to members who have had 20 comments marked as Helpful
Helper’s Badge Level Five
Level 5 of 5
Superstar! This badge is awarded to members who have had 30 comments marked as Helpful
I have read many financial statements which refer to the charity's reserve levels. It seems that 6 times monthly operating costs is the target. Some charities are not that fortunate to have reserves of that size and many have reserves well in excess of that.
Is there legal or guideline advice on what level is required/desirable?
Do those reserves need to be set aside in a separate bank account?
What funds form part of the 'reserves' - equity investments or the cash portion of those investments, savings accounts, current bank account?
Are debts owing by the charity deducted from the above to arrive at the value of 'reserves'?
As regards restricted donations, are 'restricted' operating costs and the restricted funds included in the calculation?
No responses yet. Be the first to reply!
{{ctrlComment.postTotalComments}} responses
Load more responses