Our Finance Policy
POLICY SUMMARY Click here for full version
The Shalom Network will adhere to the principles of prudent and transparent financial management safeguarding the assets of the charity and maintaining the confidence and trust of donors, sponsors, subscribers and beneficiaries.
All funding will be used for specified, explicit and legitimate purposes only, being wholly accounted for in financial records that are subjected to internal, and where required, external audit.
These financial records will conform with the charity’s governing document and relevant legislation and guidelines, e.g., Charities Act and the Charities Statement of Recommended Practice, (SORP – FRS 102).
Financial accounting tasks will be carried out by nominated, authorised persons only, using recognised accounting tools and methods. Accounts will be regularly reviewed by the Finance Committee, board of trustees and open for further scrutiny if, and when required.
Annual Accounts will be prepared and published in accordance with The Shalom Network governing document and current, relevant legislation.
Any financial reserves held will be no more than is reasonable to assure the charity’s sustainability and appropriate to prevailing circumstances. Reserves will be readily accessible and not be used for speculative investment or any activity that would put the funds at risk.
Where specified by grant providers and/or donors, funds will be used only in line with their wishes. However, as with all fund allocations they must be aligned to the charity’s purposes as laid out in its governing document, and wholly serve the public benefit.
All members of The Shalom Network team will be given clear guidance and training on how to implement the charity’s financial procedures, to ensure that this policy is effective. These procedures will be current and always available to the team, for reference.