Wraysbury & Horton Resilience – Supporting the community

Financial Policy Wraysbury Horton Resilience

Adopted: 17/8/2025

Next Review: August 2026

1. Purpose

This policy sets out how Wraysbury & Horton Resilience (WHR) will manage any funds received, however small, to ensure transparency, accountability, and proper stewardship in the interests of the community.

2. Financial Principles

All funds will be used solely to further WHR’s aims and activities, as defined in our constitution.
WHR will operate on a not-for-profit basis. Any surplus will be retained for future activities or community benefit.
We will comply with all relevant laws, regulations, and reporting requirements for voluntary/community groups.

3. Banking

WHR will maintain a dedicated bank account in the group’s name.
At least two unrelated signatories will be required for all withdrawals, cheque payments, or authorisations over £100. The treasurer and Secretary will be the nominated signatories.
Online banking access will be restricted to authorised signatories, with separate login credentials.

4. Authorisation of Expenditure

All spending must be approved in advance by the Chair and Treasurer (or their deputies).
Purchases over £100 must be approved by the Committee.
Where urgent expenditure is required for resilience or emergency response, retrospective approval will be sought at the earliest opportunity.

5. Income

All income (donations, grants, fundraising proceeds) will be paid into the WHR bank account promptly and in full.
Cash donations will be counted by two committee members and recorded before deposit.

6. Record Keeping

The Treasurer will maintain accurate financial records of all income and expenditure.
Receipts or invoices must be obtained for all expenditure wherever possible.
A simple cash book or spreadsheet will be kept and backed up.

7. Financial Reporting

A financial update will be presented at each Committee meeting.
Annual accounts will be prepared by the Treasurer and reviewed by an independent person (not a committee member) before being presented at the AGM.

8. Asset Management

Any assets purchased (e.g. equipment, tools, IT) will be recorded in an Asset Register.
The Asset Register will be reviewed annually.

9. Conflict of Interest

Committee members must declare any personal or financial interest in any transaction or funding decision.
They must not take part in the decision-making process for that transaction.

10. Policy Review

This policy will be reviewed annually by the Committee and updated as necessary.