Raising funds to provide direct practical help
Friends of Meisori School

Finances

Raising funds to provide direct practical help

Trustee Lorraine

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Registered Charity No. 1134520

 

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The Trustees of the Friends of Meisori School have made themselves personally responsible for all the administration costs of running the charity.  All stationery, postage, printing, travel, visiting Kenya, is paid for from the Trustees’ personal funds. None of this is paid for from funds donated to the charity.  The consequence of this is that when you see the accounts, you will see that all money donated is spent on the children.

 

It has been our aim since we started to ensure that we build a long term and sustainable fund to help achieve our objectives, so for every student that we start in high school, we have ensured that there have been funds available in reserve for years 2, 3 and 4.

 

Our policy states:

 

"Cash reserves will be held in order to ensure that at any time, all students that are under sponsorship will be guaranteed funds to complete their secondary education.”

 

In practical terms this has meant that in the event of a catastrophe, funds could be handed to the high school(s) to cover the future cost of educating all currently sponsored students.


Our funds are held in a community account with Barclays Bank. The account is titled “Friends of Meisori School” and the signatories to the account are the Treasurer and the Chairman of the charity.  The account earns interest at the standard rate.  Although our funds are raised in UK Pounds, the invoices have to be paid in Kenyan Shillings (KSH).