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Finance worker

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Many small charities with turnovers up to £150,000 employ a part-time admin/finance worker. This model works for many small charities, but often success or failure with this type of post is determined by getting the balance right between the administration and finance elements.

There is no golden rule: creating the job description will depend on each charity’s unique situation. However, CASH has produced this factsheet to enable groups to identify the key tasks of a finance worker in a small charity.

Some organisations will choose for tasks to be completed monthly, others will choose quarterly. Amend as appropriate.

  1. Draw up draft annual budgets for the management of the organisation with the co-ordinator, to be completed two full months before the end of the financial year.
  2. Draw up draft budgets for fundraising with the co-ordinator.
  3. Maintain proper books of account and undertake a bank reconciliation on a monthly/quarterly basis.
  4. Ensure that the book-keeping system and audited accounts comply with the requirements of the Charities Act and any additional practices requested by the management committee or co-ordinator or directed by legislation.
  5. Check, balance and sign the petty cash book on a monthly basis. Report any discrepancies to the co-ordinator.
  6. Review the cash flow on a monthly/quarterly basis, schedule payments and arrange for the transfer of funds between accounts as appropriate.
  7. Arrange for the payment of bills on a weekly/monthly basis.
  8. Check that appropriate rises are paid to staff on scale posts including inflationary increases, incremental increases approved by the management committee and changes to London weighting.
  9. Either instruct the payroll bureau on a monthly basis and oversee their work or maintain a payroll system according to Inland Revenue and National Insurance regulations including the preparation of P11s, issuing of payslips and preparation of annual returns within the statutory time limits.
  10. To undertake an analysis of unit costs as required.
  11. For each major grant and/or cost centre compare on a monthly basis the budgeted income and expenditure with actual income and expenditure.
  12. Produce and present a quarterly comparison of expenditure and income against the budget for the management committee, together with a balance sheet, all within one month of each quarter’s end.
  13. Liaise with the chairperson (or treasurer) from time to time.
  14. Prepare documents and schedules for the independent examiner or auditor and liaise with them.
  15. Check from time-to-time and at least annually that adequate insurance cover is taken out for the organisation or make written recommendations to the co-ordinator.
  16. Check from time to time and at least annually that proper arrangements are in place which ensure that all tax and national insurance due is paid to the Inland Revenue. This includes an assessment of tax liabilities on volunteer expenses and other payments to individuals.
  17. Check at least annually that reserves are invested in a risk free account and receiving a good rate of interest.
  18. Ensure that the organisation’s Financial Controls (see CASHFACTS: Financial Controls) are observed as is good current practice. Review the financial procedures and controls of the organisation annually and report in writing to the co-ordinator.
  19. Review the organisation’s reserves policy annually and make recommendations to the co-ordinator. This should include an assessment of the redundancy cost that would be incurred if the organisation were to close and an assessment of other contractual liabilities such as property leases and equipment lease purchase agreements.
  20. Maintain a fixed asset register.

Last updated: Mon, Mar 31 2008 - 02:54:04 PM

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