This briefing explains the annual financial reporting procedures for all Dystonia Society Support Groups. It is important that all groups are familiar with this process and action it annually.
All groups must send a simple Annual financial return to UK Office by the end of April each year (for the preceding period April - March). A standard form, called Group financial statement (annual) is available for this purpose here. This is a summary of your records and must be accompanied by a copy of the group’s receipts and payments record (an accounting record sheet suitable for this purpose is available here) for the year showing all money raised and spent during the financial year which is supported by receipts and details of income. Even if there is no money raised or spent a return must still be sent confirming this.
The Group financial statement (annual)
This form is a summary of the money that your group has handled during the year and is compiled from the records you have kept during the year. It also identifies any money currently being held by the group either in a group held Bank Account or as a Petty Cash Float or in any other way. If your group uses UK Office as the "banker" (as is the case for most groups now) UK Office will complete the final section indicating how much money is held at UK Office.
The form also allows groups to allocate any excess funds held by the group (either by the group or centrally at UK Office) to a particular area of our work (NB: Groups are not supposed to carry forward more than £500 at any time unless previously agreed with the CEO). It is important that all groups complete this section so the appropriate action is taken by UK Office. You can still complete this section even if you don’t know how much money is available to your group in total – UK Office can work this out and transfer the money based on your instructions.
The form must be signed by a group representative (eg treasurer, if the group has one, or the person with responsibility for group money, this may be the group co-ordinator).
The accounting record sheet
This is a way to record all the money received and paid out by the group during the year. You can either complete one of these and attach it to the Group financial statement (annual) or you can just attach a copy of the records you have kept during the year (for most groups this will be a record of your petty cash float). You can use the accounting record sheet during the year to record your receipts and payments and simply start a new sheet if you complete a sheet.
The most important things to remember about your records for the year are that you need to include:
- an opening balance at the beginning of the financial year (April XXXX);
- record each payment (ie money you have spent) - ensure each entry has a simple explanation of what it is and you should retain a receipt or paperwork for each expense;
- record each receipt (ie money you have received) - again you should explain what each receipt is (eg donation, raffle takings etc) and have a cash count form or a record of the transaction for each item;
- a balance for the end of the financial year (March XXXX+1).
If you are unsure about what you need to do please contact us at email@example.com or phone 0845 458 6211.