RESERVES POLICY – Ref Number 9

The organisation recognises that it has a duty to have a reserve monetary fund, suitable to cover any possible unforeseen or emergency expenditure, we have based this on a typical 2 years spend of our fixed costs.

• This will ensure that NWDAA can fulfil its payments to cover fish stocking, rent and insurances – these being the 3 biggest expenditure items.

• The figure below has been agreed by the Trustees as a prudent amount to hold in reserve, i.e. within the bank accounts of NWDAA to cover any unforeseen expenditure which may occur, this money cannot be spent without the express agreement of the membership.

• This Reserves Fund will be monitored and maintained by the Trustees of the club at each Monthly Trustees meeting. The monies may from time to time be placed in 'easy access' savings accounts to earn the best return possible.

• The current recommendation to members is that we set the reserve fund at £15,000.00.

* 'Reserves' are defined as the resources that an organisation has or can make available to spend for its unrestricted purposes once it has met its commitments and covered its other planned expenditure.

See Charity Commission publication CC9: Charities Reserves

Motion carried ? Yes at March AGM.................................

Formally accepted – YES

Now implemented - YES

Signed for as completed – Secretary : dated 12.4.2018

R Bainbridge [Gen Sec] Reviewed RB 9.11.2022