Misson Statement

FRIENDS OF CHASE SIDE PRIMARY SCHOOL MISSION STATEMENT

The Aims of FOCS are;

 

  1. To raise additional money to be used to provide facilities and equipment for the children at the school, which will be of benefit to all the children’s learning and happiness. These purchases should be for things the school budget would not normally cover
  2. Organise events that are fun and entertaining for the children and their families
  3. Be involved with the wider community by, whenever possible, inviting the whole community to events and get involved with other town events.

Every parent, carer, pupil and staff member of the school is automatically a member of FOCS.
FOCS must always be inclusive, encourage as many people as possible to be involved and actively welcome new members. FOCS must also be aware that it is easy for “cliques” to form and to avoid that happening.

FOCS will remain, as far as is possible, an informal group. However because of the amounts of money being raised certain financial and organisational “rules” must be kept to.

FOCS Policy
FOCS will hold an AGM within the first half term of each school year. It will also hold a general meeting within the first few weeks of the start of the Spring and Summer terms. “Working groups” will be formed when needed to manage large events. The working group will have a named “team leader.”

FOCS will have an elected Chairperson, Secretary and Treasurer (post holders). Whenever possible each of these posts will also have a deputy, who will assume responsibility for the post if the post holder can not be contacted or stands down between general meetings.

FOCS Financial Policy & Controls Policy
As a fund raising body those donating to our funds expect and are entitled to high standards of stewardship over those funds. Our finance policy is intended to reflect this.

The accounting records need to be sufficient to show and explain all transactions of the fund at any point in time. Good internal controls are vital to ensure that:

– all transactions are properly authorised and approved
– all transactions are correctly and accurately accounted for
– assets where they exist including stock are physically secure
– there is adequate segregation of duties so that individuals are not be placed in a vulnerable position by being able to process all aspects of a transaction.

The committee should set cash limits so that large payments are authorised at an appropriate level. This should be done by setting event budgets for event based activities. The event budgets should be clearly minuited and relayed to the responsible event budget holder. Normally the event budgets would be set at the full committee meeting held each term. For non event based expenditure approval is required in advance and an expenses form must be pre approved by two out of Chair, Secretary and Treasurer before expenses are incurred.

Controls should also exist to ensure that the committee get regular information about the fund’s balances and its income and expenditure. The income and expenditure report and balance sheet should be presented at each terms meeting of the main committee by the Treasurer (or deputy).

An independent examination of the finance records by an appropriately qualified and independent individual provides confirmation that the fund is being properly administered and controlled and should take place in respect of the annual accounts.

Principles
Money received should always be recorded gross – that is without deduction for any expenditure made from that money. Expenditure should be shown separately.
A cashbook should be maintained (manual or computerised) and the bank account reconciled each term
A finance report containing summary income and expenditure accounts and supporting income and expenditure reports for individual events should be presented to the committee each term
Event budgets should be set for each fundraising event by the committee and minuited. The budget can then be devolved to a working group with one individual assuming overall responsibility for the budget within that group.
All expenses must be support by receipts or other proof of expenditure.
There is a risk that not all donations will be recorded by FOCS because members incur expenditure that they do not seek to recover. Where a member incurs expenditure exceeding £5 that they do not wish to recover this should be recorded as an expense and equivalent donation.
At least 3 bank account signatories should be maintained at all times.

Income
Controls over income are designed to prevent income being under recorded or to minimise cash based risk
In general incoming Funds can be classed as donations, takings or fees.
A duplicate receipt book should be maintained and receipts issued for all non event based donations. Receipts from the duplicate book should also be issued for fees such as stall holder table fees or catering concession fees. This enables us to ensure that all monies due have been collected.
Where a general collection is undertaken such as Christmas then numbered, sealed collection boxes should be used.

Specific Cash Risk
Cash is particularly vulnerable but also forms most of FOS takings. Some simple controls over cash are therefore necessary.
2 people should always be present for a cash count. At least one of these should be the Treasurer or Dept Treasurer. Both are required to agree and evidence the count.
Cash takings should be placed in a locked box. The box should not then be opened until the 2 designated counters are present. One counter should hold the key and the other should hold the box.
At least one person (and at large events 2 people) which should include the Treasurer and/or Dept Treasurer should be observing and insuring the security of cash and floats. These persons should not have other responsibilities at this time so that they are not distracted from the security of the cash.
Expenses
Expenses may be funded by cash drawn in advance of expenditure, by cheque or by reimbursement of costs incurred. Expenses reporting/requests should be made to the Treasurer.
All expenditure must be supported by receipts or other supporting documents.
All expenditure exceeding £100 must be pre approved by the committee or event budget holder using an expense form showing the details below.
Event budget holders are responsible for ensuring that their budget is not overspent.
There is no authority to overspend a budget without prior approval of the committee.
Where cash is advanced the person responsible for the expenditure is required to provide a receipt and any unspent balance must be repaid.
Where costs incurred are to be reimbursed the event budget holder/committee must approve these. The costs should be presented on an expense claim clearly showing the name and signature of the claimant, the name and signature of the approving budget holder, the event, date and amount. Expenses claims should be delivered to the Treasurer.

Members who incur expenditure exceeding £5 for which they do not wish to be reimbursed should complete a simple expenses declaration stating the amount of the expenditure, the purpose and that they wish to donate the sum spent. This should be delivered to the Treasurer.

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