Self-assurance supporting outcome 5.1

A rolling long term financial forecast, based on the strategic plan objectives, is in place and approved by the board.

Things to Think About

• When your strategic and operational plans are developed is high-level related income and expenditure information, detailing how you will fund delivery of your strategic objectives, developed in parallel?
• Does your rolling long term financial forecast cover the full period of the strategic plan?
• Have key financial assumptions made been documented within the financial forecast?
• Is your rolling long term financial forecast (which supports delivery of your strategic objectives) approved by your board and is its approval minuted?
• Where changes occur in relation to your long term financial forecasts (eg reduced income as interest rates fall, significant changes to longer term forecast in membership fee receipts, a change in strategic direction etc) is there a process in place to ensure that forecasts are adjusted and that key changes are reported to board for its approval?