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Issues: eQualityTime/Finance-project-issues

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15 Open 12 Closed
15 Open 12 Closed
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Issues list

The procurement policy and process should be documented and implemented to demonstrate how value for money is achieved when purchasing high cost items.
#27 opened Dec 12, 2019 by joereddington
1
The strategic plan should be reviewed and updated (the latest version is from 2017). The strategic plan should also include eQuality Time’s vision (if it has one) and mission statements and key strategic objectives. In process Working on it.
#26 opened Dec 12, 2019 by joereddington
Approval of expenditure should be captured and documented and flied along with the supporting documents. The approval could be captured electronically or written onto the invoice or a payment voucher. This provides a much clearer audit trail of the approval process. Approval should be given for the amount to be paid, the payee, the invoice or document number, and the relevant accounting codes (expenditure category and project code). help wanted Extra attention is needed
#25 opened Dec 12, 2019 by joereddington
1
Monthly bank reconciliations should be undertaken and reviewed by someone who did not prepare them. help wanted Extra attention is needed
#22 opened Dec 12, 2019 by joereddington
1
Budget responsibility should be formally delegated to the COO. As eQuality Time grows and recruits new project managers, the budget responsibility should be delegated to the relevant project managers. In process Working on it.
#20 opened Sep 26, 2019 by joereddington
Where items are not covered by the normal expenses policy, these should be invoiced to and paid for by eQuality Time directly rather than being paid for and claimed back via the expenses process. This will ensure payments are recorded in the books of accounts more quickly, invoices are clearly made out to eQuality Time and there is less risk of mixing personal and business expenditure. help wanted Extra attention is needed
#19 opened Sep 26, 2019 by joereddington
1
A separate core cost budget should be prepared so that it is clear how much the organisation costs to run. This will also ensure that, where contributions to core costs are included in donor budgets, they are based on budgeted costs. Done-waiting for close. Complete, second opinion needed for a close.
#17 opened Sep 26, 2019 by joereddington
A fixed asset register / inventory list should be maintained for items of equipment. In process Working on it.
#16 opened Sep 26, 2019 by joereddington
1
Where projects are funded by more than one donor funding grids should be introduced. The funding grid is a tool which identifies which donor is funding what within a project and to identify where there are funding gaps. Needs relevent event Can't show evidence of dealing with it until it happens
#15 opened Sep 26, 2019 by joereddington
Where there are significant changes during the year with new projects approved, an updated forecast should be prepared for discussion and approval by the trustees. Needs relevent event Can't show evidence of dealing with it until it happens
#14 opened Sep 26, 2019 by joereddington
Chart of accounts (rather than expenditure categories) and cost centres should be used to track income and expenditure as the organisation grows (section 3) Done-waiting for close. Complete, second opinion needed for a close.
#13 opened Sep 26, 2019 by joereddington
A monthly cashflow forecast should be prepared Done-waiting for close. Complete, second opinion needed for a close.
#12 opened Sep 25, 2019 by joereddington
2
A standard organisational budgeting template should be developed that can be used to prepare project budgets, core cost budgets and an annual consolidated organisational budget which show clear calculations and include explanatory notes. help wanted Extra attention is needed
#11 opened Sep 25, 2019 by joereddington
3
Develop project reports that compare actual income and expenditure against budget including variance analysis. These should be prepared at least quarterly now (section 2) and monthly as the organisations grows up to £250k (section3). Needs relevent event Can't show evidence of dealing with it until it happens
#9 opened Sep 25, 2019 by joereddington
1
Recruit a new Trustee who has a strong background in charity finance and grants. Semi-complete Significant action taken, more to do.
#2 opened Aug 19, 2019 by joereddington
ProTip! Updated in the last three days: updated:>2025-03-03.