Weather protection?
Charities need to actively review and manage their reserves rather than just pay lip service to regulation, says Pesh Framjee
The tough economic times are forcing charities to look hard at their reserves policy; with a particular focus on when and how they might need to draw down on reserves. Worryingly, a number have still not fully considered the level they really need, and have clearly been paying only lip service to the requirements to consider and state a reserves policy. [1]
Author: Pesh Framjee
Pesh Framjee Pesh Framjee, Head of the non-profit unit at Crowe Clark Whitehill is Special Adviser to CFDG and is a member of the Charity SORP Committee. He has worked with charities for over 35 years and advises charities on financial, governance and strategic matters.
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