Finance Documents Review - Revision history

Jacky at 12:01, 1 June 2026

2026-06-01T12:01:13Z

← Older revision		Revision as of 12:01, 1 June 2026
Line 68:		Line 68:

	* '''14th November 2018''' Amended section 8 to add the ability for the Board to issue a specific multipay card. Discussed and polled on Development Group, recommended to the Board who agreed to adopt it.		* '''14th November 2018''' Amended section 8 to add the ability for the Board to issue a specific multipay card. Discussed and polled on Development Group, recommended to the Board who agreed to adopt it.


	====Contract for Services====		====Contract for Services====
	Amended complete model document uploaded March 2021. This was adopted when all contracts were reviewed in Feb/March/April 2021.		Amended complete model document uploaded March 2021. This was adopted when all contracts were reviewed in Feb/March/April 2021.


			====Finance Sub Committee Remit====
			Committee superseded by the Finance and Risk Working on 2nd May 2026, following the adoption of a new governance structure of Board Lead Portfolio Holders and Board led Working Groups, announced on Discourse in April 2026 - https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619

Jacky: /* Finance Procedures */

2026-04-30T14:49:44Z

Finance Procedures

← Older revision		Revision as of 14:49, 30 April 2026
Line 13:		Line 13:

	====Finance Procedures====		====Finance Procedures====
			* '''April 2026''' Changed references to the Finance Sub-Committee to the Finance and Risk Working Group to reflect the change in governance adopted by the Board [https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619]


	* '''25th June 2024''' Added Section 12. Approval of End of Year Accounts		* '''25th June 2024''' Added Section 12. Approval of End of Year Accounts
	12.1 At the April 2024 board meeting, the following process for approving the Year end accounts was agreed:		12.1 At the April 2024 board meeting, the following process for approving the Year end accounts was agreed:

	During the relevant Financial Year, the AGM votes to ~~dissapply~~ the need for an audit for that year's accounts		During the relevant Financial Year, the AGM votes to disapply the need for an audit for that year's accounts
	Shortly after the end of the Financial Year, a draft set of accounts are produced by the Treasurer and reviewed by the Finance Subcomittee		Shortly after the end of the Financial Year, a draft set of accounts are produced by the Treasurer and reviewed by the Finance Subcomittee
	The draft End of Year Accounts are issued to the auditors who produce a report which is incorporated into the accounts		The draft End of Year Accounts are issued to the auditors who produce a report which is incorporated into the accounts

Jacky: /* Finance Policy */

2026-04-30T14:47:57Z

Finance Policy

← Older revision		Revision as of 14:47, 30 April 2026
Line 9:		Line 9:

	*'''January 2025''' Year end date changed to 31st March from 5th April. The Board decided to change this to make accounting easier. The FCA approved the change.		*'''January 2025''' Year end date changed to 31st March from 5th April. The Board decided to change this to make accounting easier. The FCA approved the change.

			*'''April 2026''' Added working groups to point 9, to include changed governance model adopted by the Board [https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619]

	====Finance Procedures====		====Finance Procedures====

Jacky: /* Finance Policy */

2025-04-06T00:48:05Z

Finance Policy

← Older revision		Revision as of 00:48, 6 April 2025
Line 7:		Line 7:
	====Finance Policy====		====Finance Policy====
	*'''12th October 2020''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.		*'''12th October 2020''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.

			*'''January 2025''' Year end date changed to 31st March from 5th April. The Board decided to change this to make accounting easier. The FCA approved the change.

	====Finance Procedures====		====Finance Procedures====

Jacky: Protected "Finance Documents Review" ([Edit=Allow only administrators] (indefinite) [Move=Allow only administrators] (indefinite))

2024-11-14T12:31:02Z

Protected "Finance Documents Review" ([Edit=Allow only administrators] (indefinite) [Move=Allow only administrators] (indefinite))

← Older revision	Revision as of 12:31, 14 November 2024
(No difference)

Neville Reid: remove dead links to Yahoo

2024-11-07T09:58:46Z

remove dead links to Yahoo

← Older revision		Revision as of 09:58, 7 November 2024
Line 50:		Line 50:
	''5.5 Freegle Ltd will operate a ongoing float via an authorised prepaid debit card subject to the rules above, it will not operate any ongoing petty cash system.''		''5.5 Freegle Ltd will operate a ongoing float via an authorised prepaid debit card subject to the rules above, it will not operate any ongoing petty cash system.''

	This proposed change was outlined by the Board in a message to Central on 12th May 2016 ~~[[https://groups.yahoo.com/neo/groups/FreegleUK-Central/conversations/topics/58485]]~~ and then, following no dissent, was adopted by the Board at their meeting on 26th May 2016.		This proposed change was outlined by the Board in a message to Central on 12th May 2016 and then, following no dissent, was adopted by the Board at their meeting on 26th May 2016.

	*'''19th August 2018''' Amended section 13 (approved by Board at July 26th meeting) from:		*'''19th August 2018''' Amended section 13 (approved by Board at July 26th meeting) from:

Jacky at 11:04, 27 June 2024

2024-06-27T11:04:09Z

← Older revision		Revision as of 11:04, 27 June 2024
Line 9:		Line 9:

	====Finance Procedures====		====Finance Procedures====
			* '''25th June 2024''' Added Section 12. Approval of End of Year Accounts
			12.1 At the April 2024 board meeting, the following process for approving the Year end accounts was agreed:

			During the relevant Financial Year, the AGM votes to dissapply the need for an audit for that year's accounts
			Shortly after the end of the Financial Year, a draft set of accounts are produced by the Treasurer and reviewed by the Finance Subcomittee
			The draft End of Year Accounts are issued to the auditors who produce a report which is incorporated into the accounts
			The draft End of Year Accounts and report are approved via a vote held at a Freegle Board Meeting
			The approved End of Year Accounts are submitted to the Financial Conduct Authority
			The approved End of Year Accounts are shared at the next AGM for information
			Notes:
			Note 2. Disapplying the need for an audit is done in-line with FCA rules 7.2.12 - 7.2.17 - https://www.handbook.fca.org.uk/handbook/RFCCBS/7/2.html
			Note 3. FCA rules 7.2.21 - 7.2.24 require that even if a report is produced (as opposed to a full audit), it must be produced by a qualified auditor if certain criteria are met
			Note 4. Freegle Rules 23a requires that the accounts are provided to the AGMproval of Year End Account. This was drawn up by Craig, Finance Director.
	* '''10th August 2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.		* '''10th August 2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.

Jacky: /* Finance Policy */

2022-10-16T12:50:16Z

Finance Policy

← Older revision		Revision as of 12:50, 16 October 2022
Line 6:		Line 6:

	====Finance Policy====		====Finance Policy====
	*'''12th October ~~2120~~''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.		*'''12th October 2020''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.

	====Finance Procedures====		====Finance Procedures====

Jacky: /* Finance Policy */

2022-10-16T12:50:01Z

Finance Policy

← Older revision		Revision as of 12:50, 16 October 2022
Line 6:		Line 6:

	====Finance Policy====		====Finance Policy====
	*'''~~12.10.~~2120''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.		*'''12th October 2120''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.

	~~# Numbered list item~~
	====Finance Procedures====		====Finance Procedures====
	* '''10th August 2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.		* '''10th August 2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.

Jacky: /* Finance Procedures */

2022-10-16T12:49:26Z

Finance Procedures

← Older revision		Revision as of 12:49, 16 October 2022
Line 8:		Line 8:
	*'''12.10.2120''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.		*'''12.10.2120''' Amended section 7 to record the current (improved) processes involved in presenting accounts. Also amended Section 7 to allow more than one bank account. Development group discussed, polled and recommended the changes to the Board, who agreed to adopt.

			# Numbered list item
	====Finance Procedures====		====Finance Procedures====
	* '''~~14.11.18~~''' ~~Amended~~ section 8 to ~~add~~ the ~~ability for the Board to issue a specific multipay card~~. ~~Discussed~~ and polled on Development Group, recommended to the Board who agreed to adopt it.		* '''10th August 2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.

	* '''~~10.8.2015''' Added section 11.Tendering to the document. This was discussed and polled on Development Group, then recommended to the Board who agreed to adopt it.~~		* '''30th September 2015''' Added section 12.Reserves to the document. This was agreed by the Board on 29th July.

	* '''30.9.2015''' Added section 12.Reserves to the document. This was agreed by the Board on 29th July.

	*'''4th December 2015''' Amended section 11.4 from ''11.4 A contract will be set up for all paid work over £100 ([[Contract for Services]]) and Directors will follow agreed procedures when discussing and deciding on paid work ([[Conflicts of Interest Procedure]])'' to ''11.4 A contract (Contract for Services) will be set up for all paid work over £250 for new suppliers, and the smaller of £1000 or 10% of total current bank balances for suppliers with a pre-existing relationship. Directors will follow agreed procedures when discussing and deciding on paid work (Conflicts of Interest Procedure).'' Discussed and polled on Development Group, approved by the Board.		*'''4th December 2015''' Amended section 11.4 from ''11.4 A contract will be set up for all paid work over £100 ([[Contract for Services]]) and Directors will follow agreed procedures when discussing and deciding on paid work ([[Conflicts of Interest Procedure]])'' to ''11.4 A contract (Contract for Services) will be set up for all paid work over £250 for new suppliers, and the smaller of £1000 or 10% of total current bank balances for suppliers with a pre-existing relationship. Directors will follow agreed procedures when discussing and deciding on paid work (Conflicts of Interest Procedure).'' Discussed and polled on Development Group, approved by the Board.
Line 40:		Line 39:

	This proposed change was outlined by the Board in a message to Central on 12th May 2016 [[https://groups.yahoo.com/neo/groups/FreegleUK-Central/conversations/topics/58485]] and then, following no dissent, was adopted by the Board at their meeting on 26th May 2016.		This proposed change was outlined by the Board in a message to Central on 12th May 2016 [[https://groups.yahoo.com/neo/groups/FreegleUK-Central/conversations/topics/58485]] and then, following no dissent, was adopted by the Board at their meeting on 26th May 2016.


	*'''19th August 2018''' Amended section 13 (approved by Board at July 26th meeting) from:		*'''19th August 2018''' Amended section 13 (approved by Board at July 26th meeting) from:
Line 50:		Line 48:
	''11.3 If a new piece of work or service exceeds payment of £11k, the Board will seek at least 2 quotes from interested parties, and if in excess of £22k will seek at least 3 quotes, including from external parties if practicable. These limits were set in April 2018 and will rise in line with consumer price inflation each year. For renewal of an existing contract, the Board can extend the contract for the same value (plus inflation) without the requirement for new tendering. The Board will decide on the best person or company to deliver the work based on which is in the best interests of Freegle.''		''11.3 If a new piece of work or service exceeds payment of £11k, the Board will seek at least 2 quotes from interested parties, and if in excess of £22k will seek at least 3 quotes, including from external parties if practicable. These limits were set in April 2018 and will rise in line with consumer price inflation each year. For renewal of an existing contract, the Board can extend the contract for the same value (plus inflation) without the requirement for new tendering. The Board will decide on the best person or company to deliver the work based on which is in the best interests of Freegle.''

			* '''14th November 2018''' Amended section 8 to add the ability for the Board to issue a specific multipay card. Discussed and polled on Development Group, recommended to the Board who agreed to adopt it.

	====Contract for Services====		====Contract for Services====