Chesterton Parents Group

The Chesterton Parents Group and their financial systems

The need

Chesterton Parents Group was a newly formed support group for parents within Chesterton in Cambridge. Originally developed with the support of the local Children’s Centre, they are now an independent community group. The group required support with their financial accounting.

The support

Advice and guidance was given on all aspects of financial planning, including basic accounting best practice, accounts payable and the completion of year end receipts.

The impact

The Group now uses their financial information more effectively. They have a thorough understanding of budgets and reporting which ensures that their volunteer committee are kept aware of the financial position of the organisation. They have systems in place to report to funders. They are aware of their legal obligations with regard to the preparation of year end accounts and financial records. They can now make sound financial decisions based upon accurate and timely information.

Their treasurer said:

“I think we’ve pretty much implemented everything that was suggested. It has helped us tremendously in keeping the rest of the group informed as to what’s going on, now that it is straightforward for me to give a monthly update on our grant balances and unrestricted reserves. I think in the past we have not made optimal use of our grants, just because we did not effectively keep track of what we’d spent on them verses what we proposed”.

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