Funding for voluntary and community organisations has undergone major changes in recent years. The shift away from ‘core funding’ to ‘project funding’ requires a more sophisticated approach to managing money.
In what is an uncertain funding environment, full of opportunities, as well as risks, organisations can improve their sustainability by ensuring the best and most efficient use of their money.
Whether it’s taking account of a council paying for a service quarterly in arrears, preventing rogue trustees from siphoning off money, or retrieving the full costs of delivering a service, good money management is vital.
This overview explains the importance of good financial management to your organisation, and offers a guide to the key principles involved.
