Institute Update Issue 2 - May 2002

Controlling the day-to-day finance

Much of the practical financial work of the Institute is done by John Bailes, our finance clerk. John has been working for the Institute on a part time basis since August 1999.

John monitors the day to day financial affairs of the Institute. He ensures that the information that we receive from the bank corresponds with the data held on our supporters database and on our financial software.

Some of the donations that we receive are allocated to a specific fund. John allocates all staff expenses to the appropriate funds. Individual bills and receipts can then be matched to the appropriate area of our work.

John ensures that all of the financial information we have is correct and ready for the auditors by checking receipts and statements.

Less than half our income is regular. This can make planning ahead difficult. John monitors our financial situation, keeping track of expected bills and expenditure as well as income. In doing this we can forecast our future condition and ensure that we do not spend more than we have.


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