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Charity bonds?
kiwigirl
Posts: 383 Forumite
Hi all,
I've been asked to become the treasurer for a charity I've been with for several years and have accepted the role temporarily.
We have about £13,000 in funds and we've currently got a current account and HIA account (I've not received the books yet). I don't think we'll be using the majority of funds for the year, and will need to purchase new equipment in about 2 years and maybe a new vehicle next 12 months so was thinking if committee agree to do 2 bonds - 1 for 6 months smaller amount to cover new vehicle (we can always re-invest for 3 months if OK) and the 2nd one a larger amount to purchase the new equipment, rather than keeping majority of it in HIA. (if we can have 2 bonds too?)
We have 3 main sources of income and for the last few years this has exceeded our outgoings so I'm hoping that it'll continue. Anyone out there involved with charities and what do you do with the money that you're not likely to be using for 12 months or so?
Mods - if this is on wrong board please move. :beer: I couldn't find anything relevant on first few pages of the charity board.
TIA
KG
I've been asked to become the treasurer for a charity I've been with for several years and have accepted the role temporarily.
We have about £13,000 in funds and we've currently got a current account and HIA account (I've not received the books yet). I don't think we'll be using the majority of funds for the year, and will need to purchase new equipment in about 2 years and maybe a new vehicle next 12 months so was thinking if committee agree to do 2 bonds - 1 for 6 months smaller amount to cover new vehicle (we can always re-invest for 3 months if OK) and the 2nd one a larger amount to purchase the new equipment, rather than keeping majority of it in HIA. (if we can have 2 bonds too?)
We have 3 main sources of income and for the last few years this has exceeded our outgoings so I'm hoping that it'll continue. Anyone out there involved with charities and what do you do with the money that you're not likely to be using for 12 months or so?
Mods - if this is on wrong board please move. :beer: I couldn't find anything relevant on first few pages of the charity board.
TIA
KG
0
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