[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-172216-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-172216-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","reserves-policy-template-risks-to-income","Reserves Policy - Template - Risks to Income","","Reserves Policy template setting out how a club defines reserves and calculates the required level for a financial year. It specifies income types and the risks affecting income, expenditure types and associated risks, and the funds needed to cover identified exposures. The policy explains the current reserves position, how any shortfall will be raised, and how future project costs can drive reserves requirements. It also covers monitoring, annual review, reporting to committee meetings and the AGM, and justification of reserves that may be higher than 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is the purpose of a Reserves Policy for the club?","Question",{"text":63,"@type":64},"It ensures responsible management by outlining income and expenditure risks, the funds required to cover those risks, the current reserves position, and how shortfalls and future needs are handled while maintaining a sound financial position.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How are required reserves summarized in the policy?",{"text":68,"@type":64},"The template requires summarising the amounts from the sections covering risks to income and risks of additional expenditure into a consolidated required reserves figure.",{"name":70,"@type":61,"acceptedAnswer":71},"What happens if the club’s reserves are higher than the identified risks?",{"text":72,"@type":64},"The committee must justify the level to members, document any excess and how it supports club objectives, or explain why a contingency is still required and amend the reserves policy 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calculated for a given financial year.\nA Reserves Policy is a document that details:\nThe types of income generated by the Club and the risks to said income;\nThe types of expenditure incurred by the Club and the risks associated with said expenditure;\nThe amount of monies needed to cater for the identified risks;\nWhat the actual reserves amount is and how any shortfall will be raised;\nThe level of monitoring required to ensure that the Reserves Policy requirements are met.\nA Reserves Policy is required by the Club to ensure that:\nThe Committee manage the Club responsibly and in the best interests of the Club and its members;\nThe Club is in a sound financial position and able to manage any risks.\nVERSION CONTROL\nVersion 1\tAdopted on: (DATE)\nDEFINITIONS\nIn this document:\n“Club” means (YOUR CLUB);\n“Committee” means the management committee of the Club;\n“Policy” means this document;\n“Annual Accounts” means the financial reporting documents produced by the Committee representing a true and accurate summary of the Club’s finances for a given year;\n“AGM” means the Annual General Meeting of the Club;\nCONTENTS\n\u0003\u0013TOC \\o \"1-1\" \\h \\z \\u \u0014\u0013 HYPERLINK \\l \"_bookmark0\" \u0014RISKS TO INCOME\t3\u0015\n\u0013 HYPERLINK \\l \"_bookmark1\" \u0014RISKS OF ADDITIONAL EXPENDITURE\t3\u0015\n\u0013 HYPERLINK \\l \"_bookmark2\" \u0014SUMMARY OF REQUIRED RESERVES\t4\u0015\n\u0013 HYPERLINK \\l \"_bookmark3\" \u0014CURRENT RESERVES POSITION\t5\u0015\n\u0013 HYPERLINK \\l \"_bookmark4\" \u0014FUTURE PROJECTS\t6\u0015\n\u0013 HYPERLINK \\l \"_bookmark5\" \u0014MONITORING AND REPORTING\t6\u0015\n\u0013 HYPERLINK \\l \"_bookmark6\" \u0014RESERVES TOO HIGH?\t6\u0015\n\u0015\u0004\nRISKS TO INCOME\nThe Committee has identified the following income types and detailed the likely risks to said income:\nRISKS OF ADDITIONAL EXPENDITURE\nThe Committee has identified the following risks to additional expenditure for the Federation:\nSUMMARY OF REQUIRED RESERVES\nThe amounts identified in sections 1 and 2 are summarised as follows:\nCURRENT RESERVES POSITION\nThe Club currently has £2,000 in its Reserves Account and will therefore need to raise an additional £5,700 during the financial year to reach the identified amount of required reserves.\nThe Committee has identified the following sources of additional income to meet the required target:\nFUTURE PROJECTS\nA club may also need to hold reserves to meet the cost of a future project, e.g. the building of a new clubhouse or the upkeep/replacement of a pitch.\nThis type of need should be specifically detailed in the reserves policy and any ongoing requirement to raise additional funds documented.\nMONITORING AND REPORTING\nThe Committee will ensure that this Policy is reviewed/amended at least annually and that any changes/updates are duly recorded in the Committee meeting minutes and in the Version Control section of this document.\nThe actual/required levels of reserves will be reported at each Committee meeting and duly recorded in the meeting minutes.\nThe Committee will report on the status of the Reserves Policy at the AGM and will ensure it is correctly recorded in the Annual Accounts, once verified by the Independent Examiner.\nRESERVES TOO HIGH?\nThe Committee will need to be mindful that the level of reserves will need to be justified to members, particularly if the current reserves are higher than the identified risks to income and expenditure and any amounts that have been identified for future projects.\nAny identified excess should be documented as such and the Committee should look to see how said funds can be spent in pursuit of the Club’s identified objectives.\nAlternatively, the Committee should document why they believe that the excess is required within the reserves, e.g. a contingency fund, and amend their reserves policy accordingly.\nIt is important to note that an unjustified high level of reserves may have an impact on the Club’s ability to gain future funding.","cbCaim5vsS13hUia","https://ap.wps.com/l/cbCaim5vsS13hUia","docx",41498,6,"English","# RESERVES TO INCOME\n## RISKS OF ADDITIONAL EXPENDITURE\n## SUMMARY OF REQUIRED RESERVES\n## CURRENT RESERVES POSITION\n## FUTURE PROJECTS\n## MONITORING AND REPORTING\n## RESERVES TOO HIGH?","[{\"question\":\"What is the purpose of a Reserves Policy for the club?\",\"answer\":\"It ensures responsible management by outlining income and expenditure risks, the funds required to cover those risks, the current reserves position, and how shortfalls and future needs are handled while maintaining a sound financial position.\"},{\"question\":\"How are required reserves summarized in the policy?\",\"answer\":\"The template requires summarising the amounts from the sections covering risks to income and risks of additional expenditure into a consolidated required reserves figure.\"},{\"question\":\"What happens if the club’s reserves are higher than the identified risks?\",\"answer\":\"The committee must justify the level to members, document any excess and how it supports club objectives, or explain why a contingency is still required and amend the reserves policy accordingly.\"}]","Reserves Policy - Template - Risks to Income | DOCX",1788290214]