Red Hen is seeking help with finance

Finance Service Specification  

The Red Hen Project has grown significantly over the past three years and is now looking for both day-to-day, and strategic finance support. We are welcoming expressions of interest and proposals to meet our needs outlined below. Please email sarah.crick@redhenproject.org to arrange an informal chat about the charity and our needs.

Financial accounting

• Coordinate, process and maintain the financial accounts of the charity (done via our Xero package) including:
  • Manage the sales and purchase ledger, ensuring BACS runs and payments are made on time
  • Generate a monthly trial balance and ensure reconciliation to bank accounts
  • Ensure each transaction posted on Xero is correctly coded for VAT, project and fund type
  • Maintain an up-to-date cashflow
• Administer other finance processes including expenses and invoices plus making payments in line with the charity’s scheme of delegation. Note this should include review and analysis of reports from online giving platforms and appropriate processing of income and processing fees
• Other routine finance processes
• Work with the Project Lead and Treasurer to prepare the annual accounts for the charity commission, in compliance with SORP
• To ensure the charity complies with all relevant financial laws and regulations.

Management accounting

• To prepare and report on monthly management accounts, for trustees and the Project Lead including:
  • Significant income streams
  • Income/ expenditure to date
  • Actual income/ expenditure against plan
  • Large/ slow moving funds in line with the reserves policy
• To work with the Project Lead to prepare the annual budget each year
• Monthly review of actual spending against budgets on a fund/grant/project basis and work with Project Lead to identify discrepancies or potential issues
• Following review of actual spending against budgets, to work with the Project Lead to prepare in year and year end forecasts including mid-year projections
• Create, maintain and review a list of grant income highlighting all income deferred to a later period
• Supporting grant applications by providing financial advice and support, preparing the financial information to be included and reviewing the impact on the Red Hen Project’s financial position. Liaise with the grants officer in relation to monitoring funded projects with restricted income.

Other tasks to be considered/quoted for:

• Payroll processing
• Annual revision of anti-fraud measures
• Maintenance and collection of gift aid
• Set up and maintenance of registrations for employee giving via online platforms.