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The finance collective
make sure the bills are paid, manage the finances and produce the
annual accounts. If you have skills in finance and would like to join
us please email
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How to Cash Up: Anyone running an event, serving food & drink etc. needs to read these instructions
What is
the remit of the Common Place Finance Collective?
The finance collective
consists of three people approved by a general meeting of the Common
Place. Members should rotate so that no-one is in the collective too
long.
Responsibilities of the
collective include…
- Accounts - We maintain
an online spreadsheet which is updated weekly so we know exactly how
much money we have at any time.
- We produce annual
accounts for Companies House.
- Paying bills – one
member is responsible for collecting bills from the common place and
making sure they are paid promptly subject to bank balance!
- Banking money. Money is
taken to the bank as soon as possible after an event.
- Developing procedures:
The collective develop procedures to try and ensure security and
maximize traceability of income and expenditure, so we can see where
money is coming from and going to. This helps in budgeting and
economizing. Co-operation from events co-ordinators is essential to
us being able to do this.
- Producing reports: A
report on the previous month’s finances is provided to the first
general meeting of the month.
The collective is not
responsible for fundraising but will work with the bookings
collective and general meetings to try and ensure financial
sustainability.
The collective have
regular meetings (roughly bimonthly) and share day to day tasks which
are rotated on a quarterly basis.
The three main tasks
are –
- collecting and
paying bills
- updating the
spreadsheet
- monthly report
Signatories to the bank
account.
There are six
signatories, the three members of the collective plus three other
people closely involved with the common place who live close by the
signatories or see them regularly (also approved by general
meetings). We have two cheque books which are held by the individuals
in roles a and b above.
Joining the finance
collective: please contact us by emailing
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