Adopted – November 2025
- Introduction
1.1. Financial records will be kept so that TRESAcic can:
a) Meet its legal and other statutory obligations
b) Enable the directors to be in proper financial control of TRESAcic
c) Enable TRESAcic to meet the contractual obligations and requirements of funders
1.2. TRESAcic will keep proper accounts, which will include:
a) Records and analysis of the transactions in TRESAcic’s bank account
b) Records in accordance with current legislation and reporting requirements
1.3. The financial year will end on the 31st May each year.
1.4. Accounts will be drawn up by the Treasurer after each financial year and presented to the next
Annual General Meeting (AGM).
1.5. A report comparing actual income and expenditure will be presented by the Treasurer to the
directors at least every three months.
1.6. When required, the AGM will appoint an appropriately qualified auditor or independent
examiner to audit/examine the accounts for presentation to the next AGM. - Banking
2.1. TRESAcic will bank with The Co-operative Bank.
2.2. Accounts will be held in the name of TRESA community interest company.
2.3. TRESAcic will not use any other bank or financial institution without the agreement of the
directors. - Receipts (income)
3.1. TRESAcic membership fees will be received through PayPal, TRESAcic’s bank account, or cash.
3.2. Monies received through fees, donations and grants will be banked promptly.
3.3. TRESAcic will maintain appropriate documentation to back up monies received. - Payments (expenditure)
4.1. Directors should not incur expenses which are outside of the agreed expenditure level.
4.2. The Treasurer will be responsible for maintaining appropriate records.
4.3. No transaction will be approved without appropriate documentation. - Other undertakings
5.1. TRESAcic does not accept liability for any financial commitment unless properly authorised.
5.2. Financial undertakings must be authorised by the directors. In exceptional circumstances such
undertakings can be made with the approval of the Chair and Treasurer who will provide full details
to the next meeting of the directors. - Fundraising
6.1. All fundraising and grant applications undertaken on behalf of the organisation will be done in
the name of TRESAcic with the prior approval of the directors or, in urgent situations, the approval
of the Chair or Treasurer who will provide full details to the next directors’ meeting. - Other rules
7.1. The directors of TRESAcic will adhere to good practice in relation to its finances at all times.
7.2. TRESAcic will maintain a record of items of significant value, with an appropriate record of their
use