cash and financial management

Charity cash and financial management review

A charity asked us to review their cash and financial management arrangements. The organisation supported vulnerable adults placed in its care homes and outreach centres across the country. We helped them improve in the following ways.

  • Developed a new approach with, and for, local managers so that there was more guidance and clarity for making decisions in a devolved setting. Specifically, we produced a set of rules about what spending was permissible by local budget holders.
  • Designed a single, organisational approach for managing finances to overcome some of the inconsistencies that existed at individual sites.
  • Improved the completeness and accuracy of returns to the central finance team. This meant that missing or incomplete transactions could be identified and addressed earlier, saving staff time and effort.
  • Our work also identified process efficiencies so that the level of cash holdings at local sites could be reduced.
  • Lastly, we helped clarify the regulatory and legal framework for financial decision-making for service users so that the charity could meet more fully, the guidance and standards expected by their regulator, the CQC.