Ours is a small charity.
We should be able to close the current year with a trustees approved level of reserves of 450k.
However, our forecast cash level by the end of the current year will be about 150k.
The point of discussion for me is how does the reserve levels and the cash levels match? If reserves are there to cover for possible closure costs, how does it work with no or less money in the bank?
What have I missed?
We should be able to close the current year with a trustees approved level of reserves of 450k.
However, our forecast cash level by the end of the current year will be about 150k.
The point of discussion for me is how does the reserve levels and the cash levels match? If reserves are there to cover for possible closure costs, how does it work with no or less money in the bank?
What have I missed?