Finance Policy

This policy has been adopted by 1st Blofield and Brundall Sea Scout Group (the Group) as the basis for the administration and management of finances. The aim of the policy is to create a framework within which individual members of the Group and other interested parties, can exercise financial management and stewardship in an efficient and effective way.

Management responsibilities

The Group Trustee Board will manage the Group’s financial affairs in accordance with the Policy, Organisation and Rules (as updated) and members will have regard to the minimum standards of financial management as set out in Policy, Organisation and Rules of The Scout Association (POR).

The GSL (Simon Welin) and Treasurer (Vicki Welin) cannot agree to expenditure without the involvement of another Section Leader or Trustee Board Member.

The GSL will not be a signatory to the bank accounts.
This is to prevent any conflict of interest between the GSL, Treasurer and Group.

Budget Management

The Treasurer is responsible for preparing the annual revenue budget in sufficient detail to enable the effective management of the available funds by the Trustee Board, which is responsible for ensuring that total forecast expenditure does not exceed the available funds.

Subscription income from the Scout section and Explorer Scout Unit will be subject to a levy for the provision and maintenance of the water base, water craft etc.

To enable effective management, the Treasurer will provide regular financial reports at Trustee Board Meetings.

Insurance

The Trustee Board will review the insurance needs of the Group annually and liaise with the GSL where appropriate to ensure that specific arrangements remain appropriate.

Purchasing

The Trustee Board aims to achieve best value for money from all its purchases. The Trustee Board is responsible for ensuring procedures are in place for testing the market, placing of orders, and paying for goods and services in accordance with POR.

There is no provision for any single member of 1st Blofield and Brundall Sea Scout Group or its Board of Trustees to give verbal approval to any person for expenditure above £100.00.

No member of the Group or Trustee Board, or any person purporting to be a representative of either, shall enter into any contract where the value is between £100.00 and £200.00 without prior and auditable approval from the Treasurer, GSL and another Trustee (not the requestor).

No member of the Group or Trustee Board, or any person purporting to be a representative of either, shall enter into any contract where the value exceeds £200.00 without prior and auditable approval from the Trustee Board.

Value for Money

Expenditure above £200.00 will need to be submitted to the Trustee Board for approval.

A business case and evidence of best price research will need to be provided for consideration. There is no requirement to accept the cheapest option but rationale for the recommendation must be provided.

The request, rationale and decision to proceed must be documented in the Trustee Board agenda and minutes.

If a decision is required prior to the next meeting of the Trustee Board, an auditable record (i.e. email chain) must be retained. This must be presented for inclusion in the meeting records at the following Trustee Board meeting.

The audit trail will be requested when submitting claims for reimbursement where the expense has been made from a personal account rather than paid directly by the Group. Failure to provide one may lead to a delay or refusal of payment.

In emergency circumstances authorisation can be provided via email from the treasurer. This will be after a conversation regarding the nature of the emergency and consent received from the GSL and another Trustee (who cannot be the person requesting the exception).

Security of Property

The Trustee Board is responsible for the care and custody of all assets within the Group and will maintain proper security for all buildings, vehicles, plant, stocks, stores, furniture, equipment and cash.

The Treasurer will ensure that inventories are maintained.

Income and Banking Arrangements

The Treasurer is responsible for the correct accounting of all income due to, and cash collected by, the Group. Where possible, the Treasurer will be responsible for collecting and banking such sums.

If this is not possible and collection is made by another Group representative it is expected that this will be passed onto the Group Treasurer within 14 days of receipt.

A Group bank account will be held at a bank recognised and regulated by the Financial Conduct Authority. The account will also be protected by the Financial Services Compensation Scheme, which protects deposits up to £85,000.00.

In accordance with the partnership agreement between 1st Blofield and Brundall Sea Scout Group and Dreadnought Explorer Scout Unit, a current account will be maintained for the ESU.

All transactions (other than internal transfers between the Group saving and Group current accounts and internal transfers between the Group and ESU current accounts) will require two signatures.

Income and Expenditure accounts will be maintained. The year end for these accounts will be 31 December.

The accounts must be examined by an independent examiner before receiving Group Trustee Board approval. The accounts will then be presented at the Annual General meeting immediately following the year end.

All Scout Groups within the district are expected to submit their annual accounts to the District Treasurer within 14 days of their Annual General Meeting.

The treasurer is responsible for ensuring that the accounts, report and certification from the independent examiner is submitted to the Charity Commission.

Members’ Expenses, Training Costs and Grants

The policy relating to Members’ Expenses and Training Costs will be reviewed annually.

The Trustee Board will make a provision as part of its annual budgeting process for general expense claims.

Parental Hardship Support

Requests for funding with regards to subscriptions will be considered by the relevant Section Leader, Treasurer and GSL.

A recommendation will then be made to the Trustee Board if it’s considered appropriate to provide support, anonymising the recipient as far as possible. The Section of the recipient of the support will be disclosed to the Trustee Board.

Any financial hardship support relating to attendance at an event is at the discretion of the Section Leader, with agreement from the GSL, up to the value of £100. This must be documented in the final budget for that event. Reimbursement will be made from Group funds to that section.

If the hardship support for an event will exceed £100 authorisation from the Trustee Board is required. Anonymisation will be applied as above, where possible.

Policy Review Date:  September 2025