Effective Date: 08/05/2025
Review Date: 08/05/2026
Approved by: Board of Trustees

1. Policy Statement
The Global Health Access Trust (“the Trust”) is committed to ensuring that all financial activities are conducted with integrity, transparency, and accountability. This policy outlines the systems, responsibilities, and processes in place to safeguard the Trust’s assets and ensure funds are used solely for charitable purposes.

2. Scope
This policy applies to:

- Trustees

- Employees and consultants handling funds

- Any individual or organisation acting on behalf of the Trust

It covers income, expenditure, banking, record-keeping, financial reporting, and audit procedures.

3. Key Principles
All financial decisions must be authorised in accordance with Trustee resolutions

Public funds must be protected from loss, fraud, misuse, or waste

All financial records must comply with accounting standards and Charity Commission expectations

Trustees must ensure the charity remains solvent and financially sustainable

4. Roles and Responsibilities
Chair of Trustees: Oversees strategic financial direction and compliance

Finance Director (or equivalent trustee role): Maintains day-to-day oversight and reporting

Board of Trustees: Approves budgets, major expenditures, and receives financial updates quarterly

Independent Examiner or Auditor: Reviews annual accounts for accuracy and regulatory compliance

5. Authorisation of Expenditure
All expenditure must be authorised prior to payment and supported by documentation

Dual authorisation is required for all transactions above £500

High-value expenditures (e.g., >£5,000) require full board resolution

Grant disbursements follow due diligence and a Grant Agreement or Deed of Gift

6. Income Handling
Donations are deposited into a designated charitable bank account

Restricted and unrestricted funds are tracked separately

Gift Aid claims are submitted in line with HMRC regulations

Legacy income is recorded upon legal confirmation of the bequest

7. Banking Arrangements
The Trust holds accounts in its name with a UK-registered bank

Online banking access is limited to designated finance personnel and monitored by trustees

Monthly bank reconciliations are conducted and reviewed by the Finance Lead

8. Budgeting and Reporting
An annual budget is prepared and approved by the Board of Trustees

Actual performance is compared to budget quarterly

Financial reports are shared at each board meeting

Trustees may request additional reports at any time

9. Record Keeping
All transactions are documented with receipts, invoices, or funding agreements

Financial records are retained for at least six years

The Trust complies with SORP (Statement of Recommended Practice) for accounting and reporting

10. External Review & Audit
Annual financial statements are independently examined or audited

Reports are submitted to the Charity Commission in accordance with deadlines

Findings are reviewed at a full board meeting and used to strengthen internal controls

11. Fraud Prevention
All financial activity is subject to internal controls to prevent fraud or theft

Any suspected irregularity must be reported immediately to the Chair or Finance Lead

Investigations will be handled with discretion and may be escalated to regulatory bodies

12. Review and Training
This policy is reviewed annually by the Board. Training on financial governance is provided to new trustees and reviewed every two years.

Contact for Financial Governance Enquiries:
John O Sullivan
Subject Line: Finance – Confidential