NCVO/CFG Webinar: Financial management and accessing government funding combined
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Slides from a webinar broadcast on 1 June 2020
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NCVO/CFG Webinar: Financial management and accessing government funding combined
- 1. FINANCIAL MANAGEMENT AND ACCESSING GOVERNMENT FUNDING 1 JUNE 2020
- 2. WELCOME AND INTRODUCTION JOSIE HINTON CAPACITY-BUILDING PROGRAMMES MANAGER, NCVO
- 3. WHAT WE WILL COVER TODAY • Top tips for financial planning and where to go for support • Coronavirus Community Support Fund o Who is it for? o The application process o What is expected from organisations when applying • Questions
- 4. Covid 19 Funding Applying for support in England
- 5. 5 Contents • Purpose - What this fund is for • Eligibilty - Who and what is eligible • Applying – What information you’ll be be asked for
- 6. 6 Purpose
- 7. 7 Purpose • The UK government has announced £200m in funding to support communities through COVID-19, the Covid Community Response Fund. This funding will be delivered through a grant by the National Lottery Community Fund. • We have developed a joint response, distributing the government funding alongside National Lottery funding, to support organisations to continue to deliver services to people and communities affected by COVID-19. • Unfortunately, the funding available won’t enable us to fund everyone. But we believe we can still make a huge difference by getting this to those who need it most so they can respond to the pandemic
- 8. 8 Poll 2 How likely are you to apply for funding from the Coronavirus Community Support Fund? - We will definitely apply - We might apply - We are unlikely to apply - We have already applied
- 10. 10 Who we can fund We expect a high demand for funding and we can't fund everyone. Given the disproportionate impact that COVID-19 is having on some communities we are prioritising our support to those people and communities most affected by the pandemic, as well as organisations led by people from those communities. We will prioritise the following: 1. Organisations supporting people and communities who experience disproportionate challenge and difficulty as a result of the COVID-19 crisis 2. Organisations providing services and support for vulnerable people, for which there will be increased demand as a result of the COVID-19 crisis 3. Organisations which connect communities and support communities to work together to respond to Covid-19
- 11. 11 Who we can fund We know that small and medium-sized charities are likely to be more vulnerable right now, so we encourage applications from those organisations. We know that some communities, such as disabled people and Black, Asian and Minority Ethnic communities, are being hit hard by the pandemic. We encourage organisations to apply that are led by people those communities. If you're a group that's looking for government funding, because you can't accept funding from The National Lottery, please tell us in your application.
- 12. 12 What we can fund Through the Coronavirus Community Support Fund we can fund: • Activities supporting people and communities affected by COVID-19 and/or • Organisations to overcome any acute financial difficulties they're facing because of the pandemic Organisations can apply for between £300 - £10,000 and over £10,000 to cover up to six months of costs. We are asking people to only apply for what they need and expect most grants to be under £100,000. Organisations can apply either on their own or as part of a partnership (partnerships must now be led by a community or voluntary sector organisation). We'll consider larger awards or longer timeframes, particularly for organisations working across more than one area of England, on a case-by-case basis.
- 13. 13 Poll 3 If you apply, what will/have you applied for? - Emergency funding – to overcome acute financial difficulties - Project funding - to support Covid-related activities
- 14. 14 What to expect There will be high demand for this funding, and we will have to make some tough choices. We expect the funding to be heavily oversubscribed and anticipate only being able to support a proportion of applications. So please only ask for what you need to support communities for up to 6 months and please bear with us as our funding teams respond to the demand. We will assess applications in the order we receive them. We know you need funding quickly. We’ll monitor demand closely and update on any steps we might need to take to help manage the number of applications we get, so that we can get funding out to communities as quickly as possible
- 15. 15 Applying
- 16. 16 Tell us about your Covid 19 proposal • the name of your project • where it'll take place • what you'd like to do - how has demand for your services changed? • how your work will involve your community • how your project fits with local activities • who will benefit from your project - how have they been affected by COVID-19? • what difference your project will make - how will it mitigate the impact of COVID-19? • how much money you need • how long you need the money for As far as possible, we're also looking for organisations to be people-led, strengths-based and connected
- 17. 17 You might want to ask yourself • Have I spoken to the people in my community? • Have the people in my community told me what they need and what's important to them? • Have I listened to them and used what they've said to create my project? • What’s already working in my community? • How will my project add to these positive things that are already working? • How will my project make the most of any resources that are already helping my community? • Have I spoken to other groups in the area that are doing something similar to my project? • Have I thought about how we can all help each other? People led Strengths based Connected
- 18. 18 Tell us about your financial situation How do you expect COVID-19 to affect your plans for the next 6 months? For example: • What difference is it making to your income and spending? • Do you expect to be able to generate enough income to cover your costs? • If not, how much additional income do you think you’ll need to cover costs? • Are you worried that you might run out of cash? If so, when might that happen? • How much cash or unrestricted reserves do you have that you could draw on if needed? How many months operating costs should that cover? What actions are you taking to mitigate the effect of COVID-19? For example, applying to furlough any staff through the Government Job Retention Scheme To help you answer these questions, we’ll provide you with a simple table for you to complete with some key financial information. If you're requesting more than £50,000, we'll ask you to submit an up to date cashflow forecast or budget.
- 19. 19 Financial overview form - Income Any other income that’s not described in the other rows This column for what you think is going to happen? This column for what you had planned for this year This figure for what you expect to receive from other response funding, e.g. job retention scheme These columns are for your last two year’s figures from your latest accounts The income figure for the whole year in your accounts This column is for the narrative – tell us in words why the figures have changed
- 20. 20 Financial overview form - Expenses Staffing costs of ANY sort EXCEPT any additional for the Covid 19 project Include staffing costs for project delivery you’re applying for here
- 21. 21 Financial overview form – Balance sheet Current assets – you can put your bank balances here and the figures for any amount you’re owed over the next 12 months Current liabilities – let us know if you owe any money over the next 12 months (including loans) Net current assets – is your current assets less your current liabilities Long term liabilities – this is money you owe after more than 12 months Restricted funds – these are funds that have been given a strict purpose by the funder Unrestricted funds – these are funds that you can use for any purpose within your charitable objects
- 22. 22 Next steps
- 23. 23 Next steps There are two ways to apply: 1) Our online form makes it easier for you to tell us about your funding proposals or 2) you can email or send us a video instead All the information you need is available on our website:
- 24. 24 If you have questions: Find out more on our website: https://www.tnlcommunityfund.org.uk/funding/programmes?min=10000&loca tion=england For any queries contact our Advice line on: 028 9568 0143 general.enquiries@tnlcommunityfund.org.uk
- 26. Roberta Fusco Director of Policy and Engagement Charity Finance Group www.cfg.org.uk roberta.fusco@cfg.org.uk
- 27. Charity Finance Group (CFG) is the charity that inspires a financially confident, dynamic and trustworthy charity sector. We do this by championing best practice, nurturing leadership and influencing policy makers. Over 1,400 UK charities turn to us to develop their finance management knowledge and skills. Collectively, these charities manage £22bn of funds – that represents around a third of the entire charity sector’s income. Inspiring a financially confident, dynamic and trustworthy charity sector “The courses, training and resources provided by CFG are incredibly helpful - from expanding my technical knowledge through to supporting with leadership skills.” “A great opportunity to learn from others as well as contribute our own learning to the CFG pool.” “CFG has provided a lifeline, making sure I feel part of a community of professionals. Their training, events and magazine help me to support the leadership and trustees.” www.cfg.org.uk/joinus
- 28. Charities and COVID-19, what do we want? Essential to the nation’s economic and social recovery that Government include, invest and use civil society expertise, knowledge and networks to ensure success. • Work to address the medium and long-term scale of the financial challenge ahead, and to ensure that the critical support civil society provides will continue to be able to meet need both in time of crisis and beyond. • Ensure the distribution of funding available is speedy and efficient, and that equality and human rights are designed in from the outset, so that we meet everyone’s needs and that decision making is transparent. • Make necessary regulatory changes to existing schemes to make them fit for purpose for civil society organizations.
- 29. POLL 1 What is the annual income of the organisation do you work for? - Under 100k - 100k – 1 million - 1 million – 10 million - Above 10 million
- 30. • Coronavirus Job Retention Scheme • Coronavirus Business Interruption Loans • Small Business Grant Fund • Expanded Retail Discount • Retail, Hospitality and Leisure Grant Fund • VAT deferral • HMRC Time to Pay Plus £360m funding via Government Departments of which c£20m remains to be allocated See gov.uk page for comprehensive list of funding allocated to date Government measures to support £750m package for charities
- 31. Help and Top Tips www.smallcharityfinance.org.uk/ Aimed at charities with less than £1m turnover but a good recap of the basics! Helpful guidance on: • Budgets, Management Accounts & Cash Flow Forecasting • Preparing annual reports • Banking and accounting • Gift Aid and how to claim www.cfg.org.uk/coronavirus_guide
- 32. Help and Top Tips https://knowhow.ncvo.org.uk/ Knowledge and e-learning for charities, social enterprises and community groups Here you’ll find a range of guidance and help of a wealth of topics, including Funding and Income and ‘How to’ Guides. Also see www.ncvo.org.uk/practical- support/information/coronavirus for NCVO’s dedicated Coronavirus page
- 33. Help and Top Tips Your local networks can offer professional help, guidance and advice. • Your local Centre for Voluntary Services ( CVS) may have details of local support. See NAVCA’s searchable map for your nearest CVS • See www.cfg.org.uk/CommunityAccountant for a searchable map of Community Accountancy Services and contact details • See the Association for Independent Examiners ( ACIE) for links and contacts
- 34. Thank you and good luck with your application! Roberta Fusco Director of Policy and Engagement roberta.fusco@cfg.org.uk @RobertaCFusco
- 35. QUESTIONS
- 36. NCVO champions the voluntary sector and volunteer movement to create a better society. We connect, represent and support over 15,000 voluntary sector member organisations, from the smallest community groups to the largest charities. This helps our members and their millions of volunteers make the biggest difference to the causes they believe in. • Search for NCVO membership • Visit www.ncvo.org.uk/join • Email membership@ncvo.org.uk 36
Editor's Notes
- Hello, my name is Gemma and I work at the National Lottery Community Fund. As you know the Coronavirus Community Support Fund has now opened and all the information you need can be found on our website. There is going to be high demand for Covid 19 funding and we anticipate only being able to support a proportion of applications. This doesn’t mean don’t apply, but it does mean make sure you understand the areas that are being prioritised, and if you’re not successful don’t feel that it’s any reflection on the work you do. In the time we have I’m going to touch on what this fund is for, who and what is eligible for funding and then what information you’ll be asked for. And it’s really this last piece about the financial information we’ll be asking for, that I’d like to focus on. This isn’t just about creating a budget for a funding application, it’s about understanding how your organisation is being affected and what support it needs to get through the next 6 months.
- -
- Organisations supporting people and communities who experience disproportionate challenge and difficulty as a result of the COVID-19 crisis We are looking particularly at organisations supporting older people, disabled people (including people with long-term health conditions) and Black, Asian and Minority Ethnic (BAME) communities who are all facing specific challenges during the current crisis. We are also looking at supporting organisations who provide advice and support to those pushed in crisis and those supporting end of life care and their families. Organisations supporting people and communities who experience disproportionate challenge and difficulty as a result of the COVID-19 crisis This category includes, for instance, organisations supporting people and families who face financial hardship as a result of the pandemic. It also includes organisations working to prevent domestic abuse and violence against protected groups, those working with homeless people and those supporting vulnerable children and young people. Finally, we also know that there is increased demand for mental health support and support to mitigate the increased challenges of loneliness and isolation. 3. Organisations which connect communities and support communities to work together to respond to Covid-19 This category includes organisations supporting local community activity, including volunteering, and community organising. It also includes organisations supporting community and sector infrastructure, including public information. We know there is increased demand for support with the development of digital, data and technology capabilities. Finally, we want to support building capacity and infrastructure of Black, Asian and Minority Ethnic (BAME) and other marginalised communities to ensure they are in a better position after the initial emergency response. Our list or priority communities and organisations supports us to think about equity, diversity and inclusion and the disproportionate impact that COVID-19 is likely to have on BAME communities, disabled people (including people with mental health conditions), women, older people, carers, people experiencing homelessness, people experiencing the criminal justice sector, migrants and refugees, people with low/no income, sex workers and LGBT+ communities. We are particularly looking to support organisations led by people who have lived experience of the issues they are trying to address. And we will also focus this funding on small and medium-sized charities who are likely to be more vulnerable right now. Beyond this response, National Lottery funding will still be available for longer-term rebuild and recovery. Government funding will be used to fund organisations in the first two categories, National Lottery funding will be used to fund organisations in the last category.
- It doesn’t matter if your organisation has not received funding from the Community Fund before.
- What do we mean by acute financial difficulties?
- I’ve already mentioned the areas of need that we are prioritising, and so we obviously expect your projects to be about how your project or your work makes a difference for these communities. If you're a group that's looking for Government funding, because you can't accept funding from The National Lottery, please tell us in your application.
- Those of you who have a grant from us will be familiar with this. These are the values that we People-led We believe that people understand what's needed in their communities better than anyone. So it’s important to us that you involve your community in the design, development and delivery of the activities you’re planning. You might want to ask yourself: Have I spoken to the people in my community? Have the people in my community told me what they need and what's important to them? Have I listened to them and used what they've said to create my project? This short video explains it well. It might be helpful when you’re putting your application together. Strengths-based We’d like to support people and communities to build on the knowledge, skills and experience they already have, to make the changes they want. You might want to ask yourself: What’s already working in my community? How will my project add to these positive things that are already working? How will my project make the most of any resources that are already helping my community? Connected We want to know that you’ve a good understanding of other activities and services in your community. We’d like to see how you’ll compliment these. So you can add value to what’s already there. You might want to ask yourself: Have I spoken to other groups in the area that are doing something similar to my project? Have I thought about how we can all help each other?
- After you send your COVID-19 project proposal, we will get in touch to ask about who will benefit from your project and how COVID-19 has affected your financial position and whether you will run out of money. We understand your financial position may have changed a lot since COVID-19 began. Don’t worry, it’s okay to tell us if you’re struggling financially during the crisis – we’re only asking for this information so we can work out how best to support you. Don’t worry, it’s okay to tell us if you’re struggling financially during the crisis – we’re only asking for this information so we can work out how best to support you. So be open with us – this isn’t about trying to portray yourself in the strongest or most vulnerable light. You might find it helpful to work through this form alongside whoever helps your organisation manage the finances, this could be a finance manager, one of your trustees, your treasurer or someone else in your office team. There’s also plenty of useful advice on financial planning available from the likes of the SCC, NCVO, CFG, Cranfield Trust
- If you don’t have an income / expenditure statement, then use published accounts, management accounts or drafts are fine.
- All of what I’ve talked about will be on our website together. The key things I’d like you to takeaway are: There is going to be high demand for this money and we anticipate only being able to support a proportion of applications. This doesn’t mean don’t apply, but it does mean make sure you understand the areas that are being prioritised, and if you’re not successful don’t feel that it’s any reflection on the work you do. We know that small and medium-sized charities are likely to be more vulnerable right now, so we encourage applications from those organisations. We know that some communities, such as disabled people and Black, Asian and Minority Ethnic communities, are being hit hard by the pandemic. We encourage organisations to apply who are led by people those communities. And on the request for financial information. Please don’t worry about getting this right, we simply want to understand how you’re being affected by Covid 19 and what financial support you really need. As I’ve said before the demand and need for funding is high, so please only ask for what you need. Thank you.
- Who are we? What do we do? Relevance for audience