Statement to the Accounts 2008-9.(2009-10 is Currently Being Audited)
Reserves Policy.
Our aim is to hold sufficient reserve funds to sustain the charity to cover our running costs for the period of approximately 4 months in relation to unsecured income (donations & fundraising). When our reserves fall below this figure we put into force our strategy and organise fundraising activities in addition to those previous planned. (Appeals & Campaigns) We organise our reserves in a number of accounts, some of which provide higher interest rates, but which are less accessible as a result, and transfer funds between accounts based on our financial needs and cash flow demands.
Restricted & Un-Restricted Funds.
The only regular grants received were from East Riding of Yorkshire Council and Hull City Council and are restricted to the providing of Day Care Services for residents who meet their criteria. Other one-off grants were sourced for refurbishment, training and other equipment. All other income items (including Donations & Fundraising) are for charitable activities. Any new grants or other income secured, which are restricted will be managed and accounted for as restricted. (see accounts for further details)
Risk Statement.
We are aware, understand and plan for associated risks in relation to raising funds and managing grants and all other income, and the possibilities that unsecured income (donations & fundraising) may fall due to many reasons many of which are beyond our control. We therefore closely monitor all aspects of our income and expenditure and swiftly act in response to changes and put into practice contingency plans. We also assess our achievements and setbacks against budgets and estimated income from fundraising etc.
