Measuring financial performance

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You can use the following measurements to evidence achievements in effective financial management in your organisation:

• the board of trustees agrees budgets annually
• there are quarterly reports on accounts
• the board receives quarterly finance reports comparing actual income and expenditure against the budget
• there are accurate minutes of financial decisions and action to be taken
• the financial procedures manual is kept up to date and reviewed every two years
• ensure banking procedures are in place and up-to-date
• ensure compliance with Inland Revenue and Charities Act regulations.

Source: Published with permission from Cass Centre for Charity Effectiveness. This material is taken from "Tools for Success: doing the right things and doing them right", published in October 2008. Download or buy your copy from Cass Centre for Charity Effectiveness.

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