Financial Controls Policy

Storykeepers Community CIC

Last Updated: August 2026

Purpose

Storykeepers Community CIC is committed to managing its finances responsibly, transparently and in accordance with all legal and regulatory requirements.

This policy outlines the financial controls in place to safeguard the organisation's assets, ensure accountability and maintain the confidence of funders, partners, donors and the communities we serve.

Principles

Storykeepers Community CIC will ensure that:

  • Funds are used solely to further the organisation's community purposes.

  • Financial decisions are made openly and responsibly.

  • Appropriate records are maintained.

  • Risks relating to financial management are minimised.

  • Assets are protected from misuse or loss.

Financial Responsibility

The Directors are collectively responsible for the financial management of Storykeepers Community CIC.

They will ensure that:

  • Accurate financial records are maintained.

  • Budgets are monitored regularly.

  • Income and expenditure are reviewed.

  • Financial decisions are properly authorised.

  • Annual accounts are prepared in accordance with legal requirements.

Banking

All funds belonging to Storykeepers Community CIC will be held in an account in the organisation's name.

Personal bank accounts must never be used for organisational funds.

Income

All income received by Storykeepers Community CIC will be:

  • Recorded promptly.

  • Paid into the organisation's bank account.

  • Used solely for the organisation's community purposes.

Income may include:

  • Grants

  • Donations

  • Sponsorship

  • Project income

  • Fundraising activities

  • Training and workshop fees

Payments

Payments will only be made:

  • For legitimate organisational purposes.

  • Where appropriate evidence (such as invoices or receipts) is available.

  • Following appropriate authorisation.

Where practical, significant expenditure should be approved by more than one Director.

Purchasing

Storykeepers Community CIC will seek value for money while maintaining quality and ethical standards.

Where appropriate, quotations may be obtained before significant purchases are made.

Expenses

Reasonable expenses incurred by employees or volunteers on behalf of Storykeepers Community CIC may be reimbursed where:

  • They relate to authorised activities.

  • Receipts are provided.

  • Claims are submitted promptly.

Grants

Restricted grant funding will only be used for the purposes agreed with the funder.

Records will be maintained to demonstrate how grant funding has been spent.

Financial Records

Storykeepers Community CIC will maintain accurate financial records including:

  • Income

  • Expenditure

  • Bank statements

  • Invoices

  • Receipts

  • Grant records

  • Payroll records where applicable

Records will be retained in accordance with legal requirements.

Fraud

Storykeepers Community CIC operates a zero-tolerance approach to fraud, theft and financial misconduct.

Any suspected financial irregularity will be investigated promptly and, where appropriate, reported to the relevant authorities.

Review

The Directors will review the organisation's financial position regularly to ensure effective financial management and long-term sustainability.

Policy Review

This policy will be reviewed annually or sooner if required by changes in legislation or organisational practice.

Our Commitment

Storykeepers Community CIC recognises that every pound entrusted to us represents confidence in our mission.

We are committed to managing all income with integrity, accountability and transparency, ensuring that our resources are used wisely to create the greatest possible benefit for the communities we serve.