In these uncertain times we are all learning day by day about the impact this crisis is having and will have on us as community groups and organisations. We know that many of you will be worrying about your ability to continue to run services and facilities as well as the impact of coronavirus on the sustainability of your organisations.
You may be concerned about the loss of grant funding or trading income, staffing issues, the inability to deliver on contractual obligations and much more besides.
What we can offer through Exeter Connect is support with assessing the impact on your group or organisation. A context specific risk assessment would include reviewing the following:
- Unplanned staff or volunteer absence
- Impact on service delivery
- Loss of income
- Impact on beneficiaries
- Technical issues (e.g.IT provision for remote working)
- Cancellation of events
- Reduced venue bookings/usage
When we know what your particular issues/challenges are we can support you to develop a plan. This might, for example need to include immediate actions you may need to take with respect to your finances:
- Cash flow management.
- Assessing fixed costs and knowing what needs paying and when,
- Delaying committing to any expenditure that you can,
- Chasing all outstanding debts,
- Invoicing for all services already delivered and then ensure that these invoices are paid,
- If you are receiving funding, then checking with funders what their current guidance is about monitoring, etc, at this time and any additional support they may have,
- Freezing recruitment of new staff for any vacant posts.
- You may also need to talk with our bank about overdraft facilities or if you have loans talk to the lender.
The Charity Finance Group has compiled a guide for charity finance professionals which will be updated with new information and advice as the crisis moves into new phases
Exeter City Council are working closely with sector partners to understand the impacts on organisations and find ways of offering support and we are part of the coordinated response for communities that they are developing. There may be ways in which you would like to contribute to this wider support network. If you feel that there is something you can offer then we can offer help to explore ways in which there may be different roles that you can take on to support your community.
Contact us: email@example.com or 01392 205800