Guidance

This section on financial guidance is intended for all LALG groups, group treasurers and anyone dealing with LALG group funds.
Your first stop for advice or assistance with any financial matters associated with your LALG group will always be the LALG Treasurer. The current LALG Treasurer is Hetty Smith, email: treasurer@lalg.org.uk

•    Groups holding over £100 should bank the cash asap, it should not be stored in members' homes.
•    New groups may not open their own bank accounts. They must use the central LALG account via the LALG Treasurer.
•    Existing groups who hold more than £100 are encouraged to transfer their funds into the central LALG account - please contact the LALG Treasurer to make the necessary arrangements.
•    Groups should be self-financing.
•    However, the LALG Committee may give up to £50 for initial set up of the group or other exceptional costs – speak to the LALG Treasurer first.
•    Groups should appoint a group treasurer, and set up a simple method of keeping track of income and expenditure. The LALG Treasurer will always be happy to provide help.
•    If you plan an activity beyond the usual scope of the group and additional funds are needed, please speak to the LALG Treasurer who will advise on how to manage this.

• Groups should have a simple record keeping system to track income and expenditure.  The LALG Treasurer is happy to help with this.
• All group records should be made available to the LALG Treasurer if requested.
• It is good practice to show and review the income and expenditure records with the group members on a yearly basis to determine if any changes are needed in the future.
• All group funds managed by the LALG Treasurer are ringfenced and clearly identifiable on the LALG accounts.  The LALG Treasurer will keep groups up to date with all transactions for their group.

• All monies held when a group closes must be sent to the Treasurer.
• Funds will be returned to the group if it restarts.