Finance Policy - Revision history

RevampBot: Wiki revamp: restructure & modernise

2026-07-17T12:00:00Z

Wiki revamp: restructure & modernise

← Older revision		Revision as of 12:00, 17 July 2026
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	This document was adopted by the Board at their meeting of 27th August 2014. With a change in governance structure [[https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619]] in April 2026, this document was amended to include reference to working ~~group~~ under point 9.		This document was adopted by the Board at their meeting of 27th August 2014. With a change in governance structure [https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619] in April 2026, this document was amended to include reference to working groups under point 9.

	In January 2025, the year end date was proposed to change from 5th April to 31st March. The FCA approved the change on 3rd March 2025.		In January 2025, the year end date was proposed to change from 5th April to 31st March. The FCA approved the change on 3rd March 2025.



	1. The financial year for Freegle Ltd runs from 1st April to 31st March.		1. The financial year for Freegle Ltd runs from 1st April to 31st March.
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	2. At the end of each year, the final accounts will be prepared. The accounts and a short financial report will be posted on Central as part of the AGM Finance Report. The Board will also provide interim financial reports as part of the Minutes of Board Meetings posted on Central.		2. At the end of each year, the final accounts will be prepared. The accounts and a short financial report will be posted on Central as part of the AGM Finance Report. The Board will also provide interim financial reports as part of the Minutes of Board Meetings posted on Central.

	3. If required (ie. if not disapplied under Rule 103) an Auditor will be sought from suitably qualified candidates from within and outside of Freegle within the criteria set out in Rule 104. The Auditor will be chosen by the Board and recommended to Freegle Members. (Refer to Rules 104-107)		3. If required (i.e. if not disapplied under Rule 103), an Auditor will be sought from suitably qualified candidates from within and outside of Freegle within the criteria set out in Rule 104. The Auditor will be chosen by the Board and recommended to Freegle Members. (Refer to Rules 104-107.)

	4. Financial records will be kept so that Freegle can:		4. Financial records will be kept so that Freegle can:
	*Meet any legal and other obligations.		*Meet any legal and other obligations.
	*Enable the Board to oversee the ~~organisation’s~~ finances on behalf of Freegle Members.		*Enable the Board to oversee the organisation's finances on behalf of Freegle Members.
	*Meet contractual obligations and the requirements of any funding bodies.		*Meet contractual obligations and the requirements of any funding bodies.
	*Provide auditable records to ensure accountability and security for individuals and the organisation.		*Provide auditable records to ensure accountability and security for individuals and the organisation.

	5. The Board ~~are~~ responsible for ensuring that any expenditure is in the best interests of Freegle Ltd, taking account of ethical, recycling, reuse and environmental implications where practicable. Any income will be applied solely towards the Objects of Freegle (Rule 4).		5. The Board is responsible for ensuring that any expenditure is in the best interests of Freegle Ltd, taking account of ethical, recycling, reuse and environmental implications where practicable. Any income will be applied solely towards the Objects of Freegle (Rule 4).

	6. Expenditure must not be committed without prior authorisation by the Board. No contracts, hire purchase agreements or leases will be entered into in the name of Freegle without the Board’s approval, in an email from the Board’s email account. Freegle Ltd does not accept liability for any financial commitment unless properly authorised. Should a situation occur where an order is placed or undertaken or given with unauthorised financial consequences, the Board will decide a course of action and will record their decision in Board minutes.

	7. Freegle’s central funds will be lodged with an FCA approved bank and will be held in the name of Freegle Limited. Other financial accounts (e.g. payment services, credit cards) may be established with agreement of the Board.

	8. ~~Any fund raising and grant applications undertaken on behalf of Freegle Ltd nationally can only~~ be ~~carried out~~ in the name of the ~~organisation with prior~~ approval ~~of the Board. Approval must be~~ in an email from the ~~Board’s~~ email account.		6. Expenditure must not be committed without prior authorisation by the Board. No contracts, hire purchase agreements or leases will be entered into in the name of Freegle without the Board's approval, in an email from the Board's email account. Freegle Ltd does not accept liability for any financial commitment unless properly authorised. Should a situation occur where an order is placed or undertaken or given with unauthorised financial consequences, the Board will decide a course of action and will record their decision in Board minutes.

	9. ~~The Board are collectively responsible for~~ financial ~~matters~~, ~~and that legal responsibility is not reduced by appointment~~ of ~~a Finance Director, Treasurer, Working Group or Committee, or any other financial role~~.		7. Freegle's central funds will be lodged with an FCA approved bank and will be held in the name of Freegle Limited. Other financial accounts (e.g. payment services, credit cards) may be established with agreement of the Board.

			8. Any fundraising and grant applications undertaken on behalf of Freegle Ltd nationally can only be carried out in the name of the organisation with prior approval of the Board. Approval must be in an email from the Board's email account.

			9. The Board is collectively responsible for financial matters, and that legal responsibility is not reduced by appointment of a Finance Director, Treasurer, Working Group or Committee, or any other financial role.

	Relevant links:		Relevant links:
	*[[Finance Documents Review]] for the record of reviews and amendments of this document.		*[[Finance Documents Review]] for the record of reviews and amendments of this document.
	*[[Document Approval Policy]]		*[[Document Approval Policy]]
	*[[Finance Procedures]]		*[[Finance Procedures]]
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	*[[Rules]]		*[[Rules]]
	*[[Bank Account and Donation Methods]]		*[[Bank Account and Donation Methods]]
	*Previous Freegle UK document Financial Management and Controls		*Previous Freegle UK document: Financial Management and Controls
	*Link to Financial Conduct Authority website. The FCA is the body which oversees Mutual/Registered Societies financially [https://www.fca.org.uk/firms/managing-your-society]		*Link to the Financial Conduct Authority website. The FCA is the body which oversees Mutual/Registered Societies financially: [https://www.fca.org.uk/firms/managing-your-society]
	*Link to FCA page giving details of submitted annual accounts [https://mutuals.fca.org.uk/Search/Society/9593]		*Link to the FCA page giving details of submitted annual accounts: [https://mutuals.fca.org.uk/Search/Society/9593]

	[[~~category~~:~~Policies, Procedures, Remits~~]]		[[Category:Organisation & Governance]]
	[[~~category~~:Finance]]		[[Category:Finance]]
			[[Category:Policies, Procedures, Remits]]

Jacky at 14:42, 30 April 2026

2026-04-30T14:42:17Z

← Older revision		Revision as of 14:42, 30 April 2026
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	This document was adopted by the Board at their meeting of 27th August 2014. In January 2025, the year end date was proposed to change from 5th April to 31st March. The FCA approved the change on 3rd March 2025.		This document was adopted by the Board at their meeting of 27th August 2014. With a change in governance structure [[https://discourse.ilovefreegle.org/t/freegle-board-news-april-2026/9619]] in April 2026, this document was amended to include reference to working group under point 9.

			In January 2025, the year end date was proposed to change from 5th April to 31st March. The FCA approved the change on 3rd March 2025.

Jacky at 16:17, 29 April 2026

2026-04-29T16:17:40Z

← Older revision		Revision as of 16:17, 29 April 2026
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	8. Any fund raising and grant applications undertaken on behalf of Freegle Ltd nationally can only be carried out in the name of the organisation with prior approval of the Board. Approval must be in an email from the Board’s email account.		8. Any fund raising and grant applications undertaken on behalf of Freegle Ltd nationally can only be carried out in the name of the organisation with prior approval of the Board. Approval must be in an email from the Board’s email account.

	9. The Board are collectively responsible for financial matters, and that legal responsibility is not reduced by appointment of a Finance Director, Treasurer or other financial role.		9. The Board are collectively responsible for financial matters, and that legal responsibility is not reduced by appointment of a Finance Director, Treasurer, Working Group or Committee, or any other financial role.

Jacky at 08:02, 27 May 2025

2025-05-27T08:02:42Z

← Older revision		Revision as of 08:02, 27 May 2025
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	This document was adopted by the Board at their meeting of 27th August 2014. In January 2025, the year end date was ~~changed~~ from 5th April to 31st March. The FCA approved the change.		This document was adopted by the Board at their meeting of 27th August 2014. In January 2025, the year end date was proposed to change from 5th April to 31st March. The FCA approved the change on 3rd March 2025.

Jacky at 00:44, 6 April 2025

2025-04-06T00:44:31Z

← Older revision		Revision as of 00:44, 6 April 2025
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	This document was adopted by the Board at their meeting of 27th August 2014. ~~There has one subsequent amendment - in March~~ 2025, the year end date was changed from 5th April to 31st March.		This document was adopted by the Board at their meeting of 27th August 2014. In January 2025, the year end date was changed from 5th April to 31st March. The FCA approved the change.

Jacky: Changed financial year dates

2025-04-06T00:41:52Z

Changed financial year dates

← Older revision		Revision as of 00:41, 6 April 2025
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	This document was adopted by the Board at their meeting of 27th August 2014.		This document was adopted by the Board at their meeting of 27th August 2014. There has one subsequent amendment - in March 2025, the year end date was changed from 5th April to 31st March.



	1. The financial year for Freegle Ltd runs from ~~6th~~ April to ~~5th April~~.		1. The financial year for Freegle Ltd runs from 1st April to 31st March.

	2. At the end of each year, the final accounts will be prepared. The accounts and a short financial report will be posted on Central as part of the AGM Finance Report. The Board will also provide interim financial reports as part of the Minutes of Board Meetings posted on Central.		2. At the end of each year, the final accounts will be prepared. The accounts and a short financial report will be posted on Central as part of the AGM Finance Report. The Board will also provide interim financial reports as part of the Minutes of Board Meetings posted on Central.

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

2024-11-14T12:31:25Z

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

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

Jacky at 10:54, 26 July 2024

2024-07-26T10:54:56Z

← Older revision		Revision as of 10:54, 26 July 2024
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	*[[Bank Account and Donation Methods]]		*[[Bank Account and Donation Methods]]
	*Previous Freegle UK document Financial Management and Controls		*Previous Freegle UK document Financial Management and Controls
	*Link to Financial Conduct Authority website. The FCA is the body to which ~~IPSs are accountable~~ [~~http~~://www.fca.org.uk/firms/~~firm~~-~~types/mutual~~-~~societies/industrial~~]		*Link to Financial Conduct Authority website. The FCA is the body which oversees Mutual/Registered Societies financially [https://www.fca.org.uk/firms/managing-your-society]
	*Link to FCA page giving details of submitted annual accounts [https://mutuals.fca.org.uk/Search/Society/9593]		*Link to FCA page giving details of submitted annual accounts [https://mutuals.fca.org.uk/Search/Society/9593]

	[[category:Policies, Procedures, Remits]]		[[category:Policies, Procedures, Remits]]
	[[category:Finance]]		[[category:Finance]]

Jacky at 10:51, 26 July 2024

2024-07-26T10:51:00Z

← Older revision		Revision as of 10:51, 26 July 2024
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	*Previous Freegle UK document Financial Management and Controls		*Previous Freegle UK document Financial Management and Controls
	*Link to Financial Conduct Authority website. The FCA is the body to which IPSs are accountable [http://www.fca.org.uk/firms/firm-types/mutual-societies/industrial]		*Link to Financial Conduct Authority website. The FCA is the body to which IPSs are accountable [http://www.fca.org.uk/firms/firm-types/mutual-societies/industrial]
			*Link to FCA page giving details of submitted annual accounts [https://mutuals.fca.org.uk/Search/Society/9593]

	[[category:Policies, Procedures, Remits]]		[[category:Policies, Procedures, Remits]]
	[[category:Finance]]		[[category:Finance]]

Jacky at 20:49, 18 August 2022

2022-08-18T20:49:11Z

← Older revision		Revision as of 20:49, 18 August 2022
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	[[category:Policies, Procedures, Remits]]		[[category:Policies, Procedures, Remits]]
			[[category:Finance]]