Board talk checklist
The economic downturn has prompted the Charity Commission to produce a 'practical tool' for trustees...
The economic downturn has prompted the Charity Commission to produce a ‘practical tool’ for trustees in the form of a checklist covering the main operational issues they should be on top of. These are: strategy (opportunities and risks), financial health, governance and making the best use of resources. Links to relevant guidance are included throughout.
Commenting on the checklist, Nick Sladden of Baker Tilly observed: ‘The checklist makes an excellent starting point for any board of trustees in order to take stock and determine how best to react to the current economic environment. Of interest, is the recommendation on updating reserves policies. It is the adequacy of financial reserves and the relevance of reserves’ policies that will see charities through the current downturn rather than the problem of what will hopefully be, for some, financial deficits in any single financial year.
‘For those charities that are reliant on third party finance, raising finance is undoubtedly significantly more difficult, but ignoring the problem will not make it go away - and charities should be acting sooner rather than later. The checklist rightly steers charities to having the right skills on board.’
Author: Clarissa Dann
Clarissa Dann was the editor of Caritas as well as an HR and management online service,he People Bulletin until July 2011.
She is now the editor of the specialist trade finance magazine, Trade and Forfaiting Review which can be viewed at www.tfreview.com but does write on charity finance and investment from time to time.
Clarissa has a background in legal and professional publishing, as well as business journalism and holds an MBA from
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