Light’s Hope is committed to handling money with honesty and openness. All funds are used only for the mission and purposes of the Church, never for private benefit. Our accounts are kept carefully, independently checked where required, and shared openly at our Annual General Meeting. Members and supporters can request a copy of our latest accounts at any time.
1. Commitment
Light’s Hope is committed to handling all finances with honesty, accountability, and openness. Every donation, grant, and contribution is given in trust, and we will use all funds solely for the purposes set out in our Constitution.
We recognise that financial stewardship has two sides:
- Finance Controls – how we manage and safeguard money day to day.
- Financial Transparency – how we share openly how money is used.
2. Finance Controls
To ensure integrity and accountability:
- Bank Accounts
- All accounts will be held in the name of Light’s Hope.
- At least two unrelated signatories are required for all payments.
- Online banking must use dual authorisation.
- Income
- All income will be receipted and recorded.
- Gift Aid will be managed in line with HMRC rules.
- Cash offerings must be counted by two unrelated people and logged immediately.
- Expenditure
- Payments must be authorised by two unrelated signatories.
- Expense claims must be supported by receipts and pre-authorised where possible.
- No cash payments will be made except for petty cash, which must be recorded and reconciled.
- Records and Accounts
- Accurate records of all income, expenditure, assets, and liabilities will be kept.
- Annual accounts will be prepared and independently examined/audited as required by law.
- Trustees will receive regular financial reports.
- Conflicts of Interest
- Trustees and officers must declare any personal interest in financial matters.
- No one may authorise or approve a payment to themselves.
3. Financial Transparency
To ensure openness and trust:
- Clear Records
- Annual accounts will be made available to Trustees, members, and supporters.
- Public Reporting
- Accounts will be presented at the Annual General Meeting and published (on the website or by request).
- Where restricted funds or grants are received, reports will show how these were used.
- Open Communication
- Regular updates may be given through newsletters, reports, or other communications.
- No Private Benefit
- Trustees, clergy, and leaders will not receive any private financial benefit, except for approved expenses or agreed remuneration.
- Responsible Stewardship
- Financial decisions will balance good stewardship with the mission and vision of the Church.
4. Oversight
- The Treasurer manages finances day-to-day and reports to Trustees.
- The Trustees remain collectively accountable for financial management.
- The Chair of Trustees ensures finances are regularly discussed and reported at meetings.
5. Review
This policy will be reviewed annually by the Trustees to ensure it remains consistent with legal requirements, best practice, and the values of Light’s Hope.