Ensuring your financial strategy is sustainable means that your charities can continue to do the fantastic work they do. Ahead of her session on financial sustainability at The Charity Accountants’ Conference, Judith Miller of Sayer Vincent shares some tips on how to go about this:
Change your mindset when it comes to surplus and deficits
Get over the vocabulary. As long as you have a plan these terms shouldn’t worry you.
Look at plans, budgets , forecast on a rolling 12 month basis
Charities are here today, tomorrow and into the longer term, so it is key for charities to always be looking ahead.
Reflect on the activities you are doing
It is vital to stand back and ask yourself ‘Is that thing we’ve been doing for the last 5 years still delivering on our key strategic objectives?’