Community Base holds financial reserves in order to finance
a an unexpected decrease in income
b an unexpected increase in running costs
c capital expenditure to ensure the maintenance of our building and facilities
d an ordered and proper winding up of Community Base should the need arise.
Community Base will seek to maintain immediately accessible reserves of between three and six months revenue expenditure to finance these eventualities.
Community Base will ensure that all budgets it sets will as far as possible allow for the building and maintenance of reserves in accordance with this policy.
Reserves will be kept in interest bearing bank accounts.
This policy will be reviewed by the board of trustees at least every calendar year.
