GUIDENCE NOTES FOR WIS APPLYING TO REGISTER FOR THE CHARITY COMMISSION
The NFWI Finance department has provided some guidence notes to help WIs when applying to register for the Charity Commission. They also point out that the definition of income for registration purposes is the total income shown in the WI’s financial Statement including total subscription fees. Download the notes here.
A copy of the Budget sheet to go with your Financial Statement is available to download here.
2017 ANNUAL REPORT FORM
A copy of the Annual Report Form is available to download here. Please complete this form and return it to WI House, together with the Financial Statement, Budget and Programme IMMEDIATELY AFTER your Annual Meeting to enable correspondence to be sent to the correct person.
UPDATED WI ACCOUNT BOOK AND FINANCIAL STATEMENT
A copy of the updated online WI Account Book and Financial Statement is now available to download from our Form Downloads page and the Moodle. Updates to the hard copy versions will be available in due course.
If you become aware of any queries or problems, please let the Federation Treasurer know as soon as possible so that they can inform the NFWI.
TREASURERS - HELP WITH COMPLETING YOUR FINANCIAL STATEMENT
Following some queries we have produced a short guide for Treasurers. This should help explain the way the Account Book, which can be downloaded from the WI Moodle, works in relation to completing the Finacial Statement. Click here to download the guide.
FINANCIAL YEAR END
In response to those WIs who are concerned about the timing of their financial year-end...
· The end of your financial year can be whenever your WI agrees it should be.
· If you do decide to alter the year-end date, this can be done by a simple majority of members voting in favour of the change at an ordinary monthly meeting.
· You may choose to run your accounts from 1 January to 31 December, which is a convenient time scale for everyone to relate to and gives the treasurer plenty of time to complete all the paperwork before the May Annual Meeting.
· When considering changing the year-end date do bear in mind that your books should close around 6 weeks before the date of your Annual Meeting to give the treasurer time to finalise the year’s accounts, including receiving the final bank statement, and hand everything to the independent financial examiner giving them plenty of time to complete the examination.
INDEPENDENT FINANCIAL EXAMINERS (IFEs)
All WIs need to have their accounts independently examined at the end of the financial year. Click here for more information on using the WFWI IFE scheme.