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Reserves Policy

INK‘s Reserves Policy is to target a minimum freely available cash balance of £1,000.

The Trustees consider £1,000 to be an adequate reserve to cover unforeseen contingencies after careful consideration of the following factors:

  1. The risk of an unforeseen emergency or unexpected need for funds. INK does not enter into any commitments without knowing that it already has the means to fund them.
  2. Covering unforeseen day-­­to-­­day operational costs. INK runs a small office at a negligible cost. It only employs temporary staff on an hourly basis and does not enter into any employment arrangements without knowing that it already has the means to pay for the hours contracted.
  3. An anticipated source of income such as a grant, sponsorship or donation not being received. INK is constantly in fund-­­raising mode and has no long term funding arrangements.

To the extent that anticipated or hoped for funds are not forthcoming, INK curtails its activities to keep its expenditure within its available funding. d) The need to fund short-­­term cash flow issues such as the need to spend money before the cash for a promised grant is received. INK does not incur liabilities without knowing that it has the cash resources to meet them. Cash is monitored extremely carefully and, if necessary, accounts payable are managed to smooth any cash flow timing issues. INK reviews this Reserves Policy at least annually and otherwise from time to time, as need arises. The policy has been reviewed by the Management Committee on:

Date: 01 March 2021
Signature: Chair: Anthony Mackintosh

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