|
Get the ‘house-keeping’ right: Keep written records of meetings, and decisions taken on important issues. Set budgets for all areas of work and keep detailed financial records of all costs and income. Have policies and plans to guide everyone’s involvement. If you employ staff, make sure they have proper contracts of employment.
Get the finances right: Set annual budgets, keep clear records, and publish annual accounts. Set rules for who can spend money and how much. Be especially careful when handling cash, when investing or borrowing, and with donations. Never commit the organisation to spending money it doesn’t have.
Plan for problems: Set up fair ways of dealing with complaints and disputes. Make sure everyone knows about the procedures and how to use them.
Prepare for risks: Every organisation is sometimes at risk. Risk may affect property, assets, income, staff, volunteers, service users or the organisation’s reputation. Get information about likely risks, and do what you can to avoid them or reduce their impact. If you can, take out insurance against major risks.
Seek professional or specialist advice when needed: Make sure you get independent advice about risks, important decisions and other major issues. Even the most qualified Committee may need financial, legal or technical advice to help them make good decisions.
|