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Volunteering at Scouts is changing to help us reach more young people

Volunteering is changing to help us reach more young people

Volunteering is changing at Scouts. Read more

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Finance and financial planning

Finance and financial planning

The success of any major event may, eventually, be measured by its ability to break even-or not! This means that careful consideration needs to be given to all aspects of financing the event. The Finance Committee needs to be established early to ensure that full consideration is given to all financial aspects of the camp, certainly before the camp’s fee is set. Of prime importance will be the responsibility to underwrite the camp. Charity legislation requires Counties/Areas to make careful provision for money administered by charities. The County needs to have official representation on the Finance Committee of the camp if the County/Area is underwriting the camp.

You may need to discuss the possibility or need for VAT registration, if this is not already in place. It's possible to have a temporary registration. A staff bar, commercial catering and certain hire costs are subject to VAT, while activities are exempt.

Given the need to estimate certain expenditure and income, adequate provision will need to be made for contingencies. In addition, standard budgeting would suggest increasing costs by 5% for each year removed from the event. As the single largest element of the camp’s revenue, the camp fee should adequately reflect the requirements and expectations of participants in the camp. In fixing the fee, the committee will need to consider which services will be provided within the fee:

  • Will the fee include cost of food?
  • Will the fee cover the complete cost of programme?
  • Has the cost of hire of the site been agreed?
  • Upon what are prospective numbers based: past experience, advance publicity, competition from other camps, other major international events such as a World Jamboree?

In reconciling the income and expenditure, there are a number of key sources of income.

  • The fees of participants
  • How many are expected?
  • Is the overseas fee the same or more?
  • The fees of staff - how many staff? - the same fee as participants or less? - does the fee include food?
  • Catering and retail outlets -need for commercial contracts - agreed percentage of profits Commercial sponsorship - based on well documented presentation – accept payments/services in kind
  • Grant aid - local government sources - consult directory of grant making trusts - Connect Youth cannot give grant aid to international camps
  • Site hire costs - own site or outside body
  • Site services - central and sub-camp - consider tenders for some or all services
  • Programme costs - central, sub-camp, ticketed, spare-time
  • Administrative costs - publicity, committees, post, fax, phone, insurance, guests
  • Contingencies and emergencies

When budgets have been compiled, in consultation with the team leaders of the various areas of operation (programme, services, administration etc.), the team leaders should be allowed to manage their own budgets, with regular reports to the finance committee. Any major over-spends or reallocation of finance needs to be agreed in advance.

  • There may be an advantage in offering an early payment discount
  • UK banks often charge for receiving electronic transfer of money, so ask those paying in this way to meet these costs
  • Consider taking fees in instalments to meet cash flow requirements During the camp
  • The finance committee should hold regular meetings to ensure adequate control of expenditure and to meet contingencies
  • There needs to be good supervision of finance and adequate provision for safe storage and removal of money