With the exception of International Sections, Member Groups/Branches finances are administrated centrally in BCS. UK-based Groups must not operate their own Bank account or hold cash / cheques which belong to BCS.
BCS uses the Accruals method to produce its annual accounts, that is income and expenses are matched to the year in which they are incurred, or the event takes place rather than when cash is received or paid out.
A member of a Member Groups must not receive any remuneration from the Group for work undertaken on behalf of the Group. Members may be contracted to do work by BCS Swindon.
The BCS financial year runs to 31 August. Member Groups (UK-based and International Sections) that require any kind of financial support from the Institute need to submit an annual budget bid in March for the following financial year. This will be considered by the Community Board Finance Committee in light of the overall funding available and a budget will be allocated.
Any funding unspent at the end of a financial year cannot be retained for use in a subsequent year. Roll-over funds may be available for those who earn income from sources other than sponsorships / donations.
Please refer to the Financial guidelines V4.4 for further guidance and information.
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