Event Overview
This participatory consultation event brought stakeholders together to discuss and provide feedback on key proposals in ED3.
Here are the key resources from the event:
The key takeaways are summarized below.
Key takeaways
Support for:
- Supplementary Statement format (but 33% yes but / not sure)
- Reconciliation will strengthen connection and auditability.
- Choice of expense classifications. Natural as rebuttable presumption.
- Proposals for cost allocation (but one No)
- Fundraising includes costs of raising grants donations etc.
- Tracking all assets and liabilities by fund had 79% support in the poll. But particular support for cash and fixed assets. (See concerns below about capacity)
- Fund accounting proposals will go some way to help explain surpluses and deficits.
- Criteria for restricted fund (But 33% not sure or no)
Concern about:
- Connection between narrative report and financials – activities and expenses. This may be less obvious with natural classification.
- Capacity for smaller NPOs to do cost allocation.
- Additional clarity about support costs to improve consistency.
- Including commercial / trading / investment activities as fundraising costs
- Difficult for NPOs to track fundraising costs, especially where these involve allocated shared costs and apportioned support costs.
- The cost/benefit of tracking all assets and liabilities on each fund. Capacity of smaller NPOs.
- Charging ineligible costs to restricted funds.
Video recording
