Resource for Groups
Money Matters
It is important to be absolutely clear about anything to do with money. Here are the basic things you’ll need to think about and do:
Membership fee
You’ll want to keep this as low as possible – enough to cover your basic expenses. But you’ll also want to save money to pay for professional providers or speakers and for materials and maybe equipment.
Keeping account
That’s the job of the Treasurer. It need only be a simple account of your income and what you pay out but it’s important to write down everything in a book and to keep receipts for everything you buy, including money paid to outside people. If you are in doubt about what to do, ask someone at the bank or Post Office. Keep the account up-to-date. Any member of the group should be able to see it, if they want, within a few days of asking.
Open a bank account or Post Office account in the group’s name
It should not cost you anything. Get a cheque book and make sure you have two people who sign every cheque. It’s best to agree on three or four people who are allowed to sign cheques, in case one is away when you need to pay something.
Appoint an auditor or verifier
If you’re lucky, your bank or a friendly accountant will agree to do this for free. This person will check the accounts every year and will help you set up a simple system.
Raising money
At some stage, you’ll probably want to raise more money than your membership fee brings in to pay for professional providers or to buy equipment. You might try to fund-raise or apply for a grant.
- Contact My Devon on Tel. 0845 155 1015 for information on who to ask for funding.
- Your District Council may have a fund-raising officer who might be able to help.
- A Constitution for your group may help your funding applications. A simple draft Constitution is included here for guidance only.
