The Chaplaincy, whilst voluntary in nature, is still required to meet certain costs, including Insurance, and other salutary costs as well as meeting Volunteer Chaplain’s out of pocket expenses. Our main source of income comes from sponsoring City Centre churches.
Reserves Policy 2018 – 2019
We submit our annual report in accordance with the requirements of the Exeter City Centre Chaplaincy aims and objectives and those of Charities SORP (Statement of Recommended Practice).
The trustees have established their mission aims taking into account all of the resources available in terms of people and money
Mission initiatives/projects have been costed or estimates made of projected future costs which take into account the needs identified by the Lead Chaplains and Trustees
We have agreed a Reserves Policy which is set out below and is recorded in the trustees’ minutes and our Annual Report
We recognise the need to be accountable as charity trustees for all the money which comes into our hands and will provide further information as required.
The Chaplaincy Reserves Policy deals with Our General Fund: This as at 31 December 2018 stands at £5642.17
General Funds Reserve
These funds are on deposit at the Cooperative Bank.
We aim, ideally, to hold in reserve sufficient money in these reserves to cover six months expenditure – approx. £2.5k. The chaplaincy needs this money in reserve as working capital to cover normal running costs, peaks in expenditure, and a contingency for developing our service to the city centre.
In particular we intend to
- Develop our training programme for newly recruited volunteer chaplains
- Extend the scope of our outreach to include shops and businesses currently not covered by our volunteer chaplains
- Continue to develop our current chaplains’ skills more readily to support the people we serve.
This Reserves Policy is reviewed and updated on an annual basis.