Reserves Policy

This document was approved by the Board on approval of the 2012-13 Annual Report. (approved revision, subsequent changes) Changes to this document are subject to board approval, and should be proposed either on the talk page or the Engine room

Approval history:

This Policy is taken from the 2012-13 Annual Report:

Our reserves policy is regularly reviewed as part of our financial protocols. We aim to maintain reserves ideally equal to 12 months administrative expenses for our London office, staff and governance, in order to protect our programme of activities.

Our year-end reserves at 31 January 2013 stood at just over £298,000, including funds of £7,000 designated for fixed assets, restricted funds of £1,000 and a €40,000 (ca. £36,000) charitable project commitment. Our free reserves, at £254,000, equated to 8 months of planned administrative spending as defined above, so we are aiming to increase our free reserves by 50% this year as part of our fundraising target.