Finance Policy
The purpose of this policy is to provide guidance to the Trustees who are involved with managing The Stalisfield Village Hall Trust (SVHT) funds and to ensure that there are adequate internal financial controls over the charity’s assets and their use.
Scope
This policy covers all financial activities associated with SVHT, including financial controls, monitoring activities, internal audits, financial information and communication, Trustee responsibilities, receipt of income, banking procedures, purchases and expenses. The individuals falling within the scope of this policy include Trustees, Committee Members and Volunteers. This policy particularly applies to Trustees.
​Trustees responsibilities
The Treasurer shall present to the Board of Trustees each annual general meeting the
report and accounts of the charity for the preceding year.
SVHT accepts and implements the guidance provided by the Charity Commissioners in the management of its operations, as follows:
1. The trustees of SVHT are under a duty to ensure that the charity keeps proper books and records and that annual accounts are prepared. The trustees must also prepare an Annual Report. The Annual Report and accounts should conform to any relevant requirements and recommendations.
2. Trustees must ensure that the accounts are subjected to scrutiny, as required by legislation or by the charity’s governing document.
3. Trustees need to formally approve the charity’s Annual Report and accounts.
4. All trustees are provided with copies of the charity’s report and accounts each year. New trustees ought to be given a copy of the latest accounts on appointment, together with other essential documents such as the governing document and information about the charity’s history.
Controls over expenditure
It is important for trustees to bear in mind that they are responsible for all expenditure of charitable funds and have to account for how the charity’s funds have been applied. A minimum of two trustees are required to authorise any payment out from the charity funds. Where expenses are being reimbursed to a Trustee, they cannot be one of these authorised signatories.
Controls over purchases
Trustees have a responsibility to ensure that adequate checks are made to both confirm that purchases have been properly authorised by a minimum of 2 trustees and that goods or services ordered have actually been received.
Controls over Public Donations and Legacies
The Trustees are responsible for ensuring that when a public donation or legacy is offered to SVHT that the treasurer confirms to the trustees that the party donating are personally known to SVHT and that any attached conditions are acceptable if they support the purposes of the charity and do not introduce any conflict of interest. If the donating party is not known to SVHT then it is necessary to carry out a Know Your Client Procedure. Donations and Legacies that do not support the charitable purposes for SVHT will not be accepted.
Trustees’ liabilities
If funds are lost through trustees neglecting their duty of care they could be held personally liable to repay to the charity the funds lost. However, if reasonable controls are in place and have been adhered to, then trustees are unlikely to find themselves in the position of having to make good any such loss.
Last reviewed – August 2026
Review required – August 2028