Skip past Navigation

Financial issues

Financial issues


A major barrier to many community-based projects is often seen as money, or lack of it. This part of the toolkit looks at raising and managing finance in order to fund a project successfully. This process starts right at the beginning of every project – however big or small – and the issue continues after the main project work has been completed. The aftercare implications on finance are considered more fully in the section Economic sustainability.

This section looks at:

Financial planning: Costing - An idea of the cost of a project is needed before funds can be obtained. While in an ecological approach this is necessarily a little difficult to judge precisely, flexible costing is possible. This section looks at how much things cost, how to budget and assess what is feasible, and the production of estimates and ballpark figures.

Fundraising - Once the costs of a project have been assessed then funds have to be raised. This includes identifying possible donors, dealing with the requirements of any application process and issues such as match funding.

Cash and cash flow - Any funded project will require the organisation to report back to the funding body and show that their funding is being managed appropriately.

Financial management - In order to keep track of expenditure and ensure that this remains within budget, suitable financial management regimes must be put in place.

Insurance - The holding of insurance can protect the project and those involved in it from financial problems should something go wrong. This can be from over-runs on contracts, accidents on site during and after the project and environmental liabilities resulting from the possibility of contamination existing on the site.

Comments
Comments