Northumberland FA Financial Control Policy
1) Financial records must be kept so that:
The organisation meets its legal and other statutory obligations, such as Charity
The trustees have proper financial control of the organisation.
The organisation meets the contractual obligations and requirements of funders.
Acts, Her Majesty s Revenue & Customs and common law.
2) The books of accounts must include:
A cashbook analysing all the transactions appearing on the bank accounts
A petty cash book if cash payments are being made
3) Accounts must be drawn up at the end of each financial year within 3 months of the financial year end and presented to the next Annual General Meeting.
4) Prior to the start of each financial year, the trustees will approve a budgeted income and expenditure account for the following year.
5) A report comparing actual income and expenditure with the budget should be presented to the trustees every three months or whenever meetings take place.
6) The AGM will appoint an appropriately qualified auditor/ independent examiner to audit or examine the accounts before presentation to the next AGM
1) The club/league will bank with X Bank plc at its Y Road Branch and accounts will be held in the name of the organisation. The following accounts will be maintained:
2) The bank mandate (list of people who can sign cheques on the organisations behalf will always be approved and minuted by the trustees as will any changes to it.
3) The organisation will require the bank to provide statements every month and these will be reconciled with the cash book at least every three months and the treasurer will spot check that this reconciliation has been done at least twice a year, signing the cash book accordingly.
4) The organisation will not use any other bank or financial institution or use overdraft facilities or loan without of the agreement of the trustees.
1) All monies received will be recorded promptly in the cash analysis book and banked without delay (this includes sundry receipts such as payment for telephone calls, photocopying etc.). The organisation will maintain files of documentation to back this up.
Get In Touch
By email: Andrew.Cook@northumberlandfa.com
By phone: 0191 2700700
By mobile: 07842 018920