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I'm trying to help a charity with its funding. As you will know funds are a bit of a problem as there could be loads of money in the bank but it is restricted in a fund and cannot be spent elsewhere.
In trawling the internet, I have found a lesser known fund called a designated fund.
http://www.charitysorp.org/media/513614/module-2.pdf
The difference is that this fund is usually money set aside from unrestricted funds for some purpose such as saving up for a new audio system but if necessary it can be undesignated - because it was not restricted in the first place.
My question is, if a fund exists but it is not specfied which kind of fund it is, is there a default? The URL above does not say and I cannot find an answer elsewhere.
Thank you
Peter
Edited at 26 Jun 2018 05:59 AM GMT
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