Episode notes
In this episode, Aishat dives into a crucial topic for anyone managing charity finances: understanding fund types. Starting with the basics of restricted and unrestricted funds, she unpacks common terms like designated funds, ringfenced funds, and general funds, explaining what they mean and how they impact a charity's financial operations. This episode is all about helping nonprofit professionals, trustees, and financial advisors speak the same language when it comes to fund management.
Whether you're a trustee, staff member, or a charity’s accountant, this episode will provide clarity and practical tips to ensure your financial management is spot on.
KEY TAKEAWAYS
- Understanding fund types is crucial for effective financial management.
- Restricted funds must be used as specified by the donor.
Keywords
Restricted fundsUnrestricted fundsDesignated fundsFund AccountingGeneral Funds