Institute Update Issue 2 - May 2002

Being good stewards means careful financial monitoring and planning

By Iain Bainbridge

In the last few years The Christian Institute has grown very considerably.

The financial demands on our work have been very great and we give thanks that under God our income has met our needs. As our work grows, we need to remain accurate and detailed in our financial recording.

The Charity Commission sets out guidelines on how the financial affairs of charities should be undertaken. It is important that we have the right systems in place to keep us up to date with their requirements and to ensure that we are accurate and wise in the way we allocate the money that is generously given to us.

Detailed written and computerised records are kept, showing exactly what money is received and spent. Those records are strictly private and the Institute, like other charities, never discloses details of individual donations. The amount of work that goes on behind the scenes to ensure that the Institute’s research and campaigning work can continue is considerable. We rely on some key people who co-ordinate our finances and enable us to keep tackling the important issues.

Alec McNichol is a member of the Institute’s executive committee and is our treasurer.

Alec works in a voluntary capacity, monitoring and recording our financial transactions. He also deals with the staff payroll, organises pension arrangements and reclaims from the Inland Revenue the tax on standing orders given to us, using the gift aid scheme.

Alec also works closely with the administrative staff ensuring that the financial information on their database is accurate and matches his records. He works with Jon Errington (office manager) to record the amount of staff time that is spent on each individual project. Every member of staff fills in a weekly timesheet showing the amount of time they have spent on each area of work. These figures are then used to work out how much money is being spent on each project, and to plan for the future.

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