Mid Year Financial Returns 2020

Tuesday, 30 June 2020

This year, for the first time, we’re asking Districts to provide a Mid-year Financial Return, covering the period from 1 January 2020 to 30 June 2020. We expect to email Treasurers their District’s Mid-year Return on 13 July 2020, along with guidance on completing the Return. We’re asking Districts to complete the Return by 31 July 2020.

Unlike the Annual Financial Return, Districts aren’t required to complete the Mid-year Return, but it would be really helpful, if they did so.

 

What will the Mid-year Return be like?

The Mid-year Return will be similar to the Annual Financial Return but a little slimmed down. Like the Annual Financial Return, it will be in the format of a Google Sheet. This means we’ll be able to access it remotely.

 

Why are we starting to collect Mid-year Financial Returns?

The main reason we’re asking Districts to provide a Mid-year Financial Return is to ensure Woodcraft Folk’s trustees (General Council) and Folk Office have up-to-date information on the charity’s financial position.

Woodcraft Folk is one organisation (made up of Groups and Districts, Regions, residential centres, Folk Office and various other parts). As trustees, the members of General Council needs up-to-date information on all the different parts of the organisation in order to exercise proper oversight and make good decisions. At the moment, however, General Council only gets information on the financial position of Groups/Districts once a year.  

Some large funders require Woodcraft Folk to provide information on its current financial position when applying for grants. The information from the new Mid-Year Return will help us provide more accurate information, which is all the more important in light of the Covid-19 pandemic.

Questions and queries

We are very happy to help any treasurers who have questions or problems with the district finances, whether it is with the mid-year return or anything else. Please feel free to contact Ros, finance volunteer at ros.epson@woodcraft.org.uk with any questions.