This page explains what those involved in the financial management of a voluntary organisation need to consider in light of the covid-19 pandemic.
It highlights government guidance and signposts to practical resources that will help you to:
- understand and protect your organisation’s financial position
- make decisions and plan for the future
- ensure your organisation’s financial sustainability
This section is primarily aimed at those that oversee and manage an organisation’s financial resources namely trustees, treasurers, senior staff and financial managers.
Financial management
- Your charity’s beneficiaries should be at the forefront of any decisions you make about your charity’s finances
- Whatever decisions you make, you will need to be able to communicate these clearly to beneficiaries, supporters, staff and volunteers
- In order to help you understand your charity’s financial position, create a plan and make decisions, the Charity Commission’s guidance on managing financial difficulties in your charity caused by coronavirus suggests three key steps:
- Consider your current financial position
- Consider options for minimising costs and protecting and increasing income
- Keep your charity’s operations and finances under regular review
- For more information about issues you may be facing in terms of financial reporting, read our guidance on financial governance and solvency.
- You can also watch our webinar hosted in partnership with the Charity Finance Group on financial management during covid-19 (broadcast on 27 May 2020).
- The Charity Finance Group has information about how you can access expert support from their corporate members.
- Charity Tax Group has a Coronavirus Information Hub which provides guidance, support and updates for finance professionals, including on charity tax issues.
- Good Finance has a hub full of tools and resources to help you manage your organisation’s funds and investments.
Prevent fraud
- Voluntary sector organisations have seen the emergence of coronavirus related scams.
- You need to think carefully about how to minimise the risk of your charity becoming a victim of fraud or cyber attacks
- To help you tackle fraud, read the Charity Fraud Awareness Hub’s eight guiding principles.
- The Fraud Advisory Panel, the Charity Commission and other sector partners have pre-recorded a webinar to help you spot covid-19 related fraud and better protect your charity from harm.
- This Charity Commission news story outlines the different types of fraud of which charities should be aware and how you can minimise the risk.
- If your charity has been a victim of fraud or cybercrime, you should report it to :
