Telephone Number:- 02380 864 228 Calmore Infant School Calmore Drive  Calmore, Totton SO40 - 2ZZ AT CALMORE Registered Charity Number:- 1062510
© Caterpillars Pre-school 2018
Reserve Fund
Caterpillars Pre-school is a standalone organisation with no financial backup available from other sources. It is essential that Caterpillars Pre-school has the reserves available to meet any potential debts. We aim to ensure that Caterpillars financial security is assured at all times. Procedures In order to achieve this aim, we operate the following procedure: The following items of expenditure will be considered when deciding how much money should be kept as reserves: o Staff salaries for the relevant notice period; o Redundancy pay for each staff member; o Return of deposits held for current and prospective children; o Three month’s running costs, e.g. milk bills, outstanding invoices etc. Reserves will be held in bank/building society accounts where interest may be earned but there is instant access. Whenever possible, the level of reserves will match the anticipated expenditure as listed above and reviewed yearly by the bookkeeper and agreed by the committee. Should the level of reserves rise above the amount indicated within this policy, the additional money and any interest that may have been earned will be used to benefit Caterpillars Pre-school and the service that it offers to the parents and children. In the event that Caterpillars Pre-school closes, any reserves remaining after paying all outstanding bills will be passed to another Charitable Trust agreed by the committee. References to other relevant policies: Safeguarding Children & Child Protection, Confidentiality & Client Access to records, Information Sharing, Valuing Diversity & Promoting Equality , Achieving Positive Behaviour, The Role of the Key Person, Children’s Records Policy Monitoring and Evaluation Information This policy will be monitored and evaluated as per our rolling programme at staff meetings. It will be reviewed annually by the Chairperson in conjunction with the staff team and Committee unless new legislation or an incident occurs which requires an immediate review of the policy    This policy was adopted on: July 2017