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Finance meeting


Wonderstuff16
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We are a charity committee run playgroup, with a new committee from last September and new lead practitioner. I do all the finances & admin and also started in September, so it's all very new to all of us. We need to have a finance meeting soon which will be mostly my job to produce budgets & cash flow forecast for the following year.

 

Has anyone got any tips, I want to make sure I include everything and don't miss anything. Quite happy with everyday expenditure/cost but things like salaries, how do you work out employer NI costs/holiday/bank staff? In terms of the children, what's the easiest way to work out how much income that will generate, when some are funded & some are not & they all do different sessions or start at different times in the year.

 

Finding it hard to see how accurate it can be when so much changes throughout the year.

 

Thanks in advance.

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At this time of year I have registers prepared for next as we are full. This means I can forecast the monthly income, I know what staffing I need so I can forecast the main expenditure. With the entitlement grant I can only surmise based on this years' figures but it gives me a rough idea. As to NI, my payroll manager package (Moneysoft) works that out, so I can input that into my cash flow sheet too. Other than that, there's not a lot on the cash flow forecast, other than bills I know we have such as utilities, rent, Ofsted etc.

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I work it by using income I have in Aut term, look at how many sessions I have left to fill, presume half of those will fill spring term then full for summer term, it does help that our fees and funding rate are only a couple of pence Different so don't need to show funded/non funded as separate , NI 10% of the wages of those staff earning enough (but you now won't pay upto the first £2000 but bear in mind if they are entitled and go off sick you won't be able to claim back ssp anymore) holiday pay I work on being a months pay + a week, add a yearly training budget, as you say I don't think it can be an exact science as things change so much. Good luck .....can you do mine when you've finished yours ;-p

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Hi

I have a exel speadsheet for each month (one for income one for expenses) and input all the information (with summary sheets at the end) For forecasting I input figures in red ie grant payments, utilities, wages. It does give some idea.

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