2014 Activity Plan/Finance

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Lead member of staff

Richard Symonds

Indicative budget amount

£15,000

Description and overall rationale

Our finance budget is allocated to ensuring first rate financial management of our resources including matching expenditure to all aspects of our programme. This will happen principally through three means:

  1. Strict internal financial controls and protocols
  2. The use of external accountancy expertise on a regular basis to support the staff and trustees in creating accurate and timely financial reports.
  3. External auditors to offer guarantees that our financial systems and accounting reflect the best practice of the UK Charity commission and Company Law.

In 2014-15 this budget will include a management accountant on a part-time basis to ensure the timeliness and reliability of our new Quarterly Financial Management Reporting system.

This is an operational area of our work, and it does not directly refer to the strategic goals.

Timelines - i.e. what happens quarter by quarter

This is an ongoing activity area where in each quarter we will check that the operational guidelines (listed below) are being followed.

Success criteria and Metrics - overall and quarter by quarter breakdown if relevant
Risks
  • Weak financial reporting reduces confidence in WMUK and impacts on income
  • WMUK is subject to fraudulent activity