BCA reserves policy

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BCA Reserves policy – November 2016


We aim to maintain unrestricted reserves equivalent to at least 24 months of net expenditure.


The BCA runs a number of projects with an uncertain level of income to fund them. 

Maintaining about 24 months’ worth of reserves enables us to plan events a couple of years into the future and to order batches of adapted chess sets and clocks.

The term net expenditure is used here because with tournaments much of the expense is offset by participants paying most of their accommodation costs.  Net expenditure is the total outgoings less the amount coming in from event participants for our 3 annual domestic tournaments.


Over the last 3 years the net expenditure has been about £47,000 a year on average.


24 months of net expenditure therefore equates to about £94,000 in general funds.


Actual reserves at end of last financial year £122,129

Restricted funds (raised or given for a specific purpose) £4,611

Leaves free reserves of £117,518


We currently have more than our estimated 24 months of net expenditure.  This was not planned and is largely explained by unexpected and large amounts being given to the BCA.  We think that it is unlikely to be repeated.  This extra amount helps us to deal with our uncertain income and gives us flexibility for allocating money.  We will keep this figure under review during the next year.


Our income is largely from donations raised by our fundraiser and is hard to predict.

We are also mindful of the fact that if our fundraiser were to stand down, it could be difficult to recruit a new officer quickly.

Another uncertainty is the fact that we purchase specially adapted chess sets and clocks with no guarantee as to when we will have sold them all to members.


This policy will be reviewed at least once a year.



Original policy drawn up in October 2010: reviewed annually.



Signed and dated by 2 trustees on behalf of BCA


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