Money Matters

6 Money Matters 

6.1 Introduction 

This section of the Toolkit will enable you to develop a basic understanding of finances for your organisation, including an overview of financial management and the tools that are used.  Key learning points for this section will include: 

• Considering the importance of finances for VCOs.
• Developing an understanding of what financial management is
• Developing an understanding of the different financial management tools that are available
• Considering the importance of financial planning
• Developing an initial approach to considering financial management for your organisation 

6.2 What is Money Matters? 

Broadly speaking this section covers two important facts; financial management, and financial planning.   These are two important aspects in ensuring the longevity and sustainability of your organisation, for example, ensuring your organisation does not run out of money.

What information the Charity Commission requires from registered charities;

The Charity Commission has produced video tutorials for charities explaining what information needs to be sent to them each year. They are broken down into three different income bands:

• Annual income under £10,000
• Annual income over £10,000 and up to £25,000
• Annual income over £25,000 and up to £500,000