Financial Fitness: The benefits of training for small voluntary organisations. City Parochial Foundation, March 2001, phone 020 7606 6145, email: email@example.com
The following is an extract from the report:
- Good quality financial management training significantly enhances the ability of small voluntary organisations to develop adequate financial systems.
- Organisations managed and operated on a totally voluntary basis are just as capable of developing sound fmancial management systems as organisations with paid staff.
- The provision of financial management training at an early stage of an organisation's life will provide a more secure base for future development.
- Training programmes attended by two people from each organisation will significantly enhance that organisation's ability to develop its financial management system.
- The cost per organisation of an assessment-based training programme (similar to that used in the study) - for two participants is approximately £1,250.This rises to £1,685 when all venue and other costs are taken into account.
- Many small charities continue to use non-specialist accountants who do not apply the Charity Accounting Regulations or the SORP when they prepare and scrutinise annual accounts.
To the Trust
- The Trust should commission the development of a financial management training programme
- The programme should be specifically designed for small voluntary organisations and incor- porate pre- and post-training assessment.
- The quality of training provision should be enhanced by the use of suitably experienced trainers.
- The Trust should ensure that organisations applying for grants meet legal requirements for insurance cover. It should do this as part of the grant application process, particularly with newly-formed organisations.
- Small voluntary organisations should seek to develop sound manual accounting systems before they begin to consider computerised systems.
- Working with other funders, the Trust should ensure that small and newly formed organisation have access to local, good quality, low cost fmancial training.
- Funders should monitor the SORP compliance of funded organisations and bring noncompliance to their attention promptly.
- Organisations should consider using auditors which specialise in charity accounting.