Financial Policy

Purpose

• This policy describes how the Trust will invest, or otherwise manage, its liquid assets

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Scope

• This policy applies to the management of all liquid assets of the Trust.

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Responsibilities

• In accordance with the Trust Constitution the Management Committee has overall responsibility to apply the income received for the benefit of the Charity and will take the appropriate action should the Charity fall into a debt position. The Treasurer has responsibility for providing a statement of the Trust’s financial position at monthly committee meetings as well as an annual set of accounts duly audited.

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Process

• To apply the Charities income for the benefit of the Trust usually means that income will be spent rather than invested. However the Committee may decide that some funds will be retained and where appropriate invested in accordance with the Trust Constitution and for the long term benefit of the Hall.

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• If any investments are made on behalf of the Charity they will be via United Kingdom (UK) Bank or UK Building Society accounts, unless otherwise decided by the Committee.

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• The Trust’s liquid assets (i.e. surplus cash) that are required for immediate access will be kept in a UK bank or UK building society charity account. Any other liquid assets will be kept in a UK bank or UK building society deposit account which pays interest. If significant liquid assets accrue, but will not be required in the next three to five years, the Treasurer may recommend a longer term investment. Any such recommendation would require the approval of the Management Committee and professional advice sought. The Management Committee will review the financial position through the annual statement and interim information provided by the Treasurer.

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Approved by the Memorial Hall Committee: July 2025