Unrestricted Funds Policy

1. Purpose
   The purpose of this policy is to establish clear principles for the management and use of unrestricted funds held by Runners Media CIC.
   Unrestricted funds provide the organisation with financial flexibility to support its core operations, organisational development and long-term sustainability. They enable the
   organisation to respond to emerging community needs, invest in innovation and maintain resilience during periods of financial uncertainty.
   This policy ensures unrestricted funds are managed responsibly, transparently and in accordance with the community benefit objectives of Runners Media CIC.
2. Scope
   This policy applies to:
    Directors
    Finance Lead or Treasurer
    Employees involved in financial management
    Project Managers
    Anyone authorised to approve expenditure on behalf of Runners Media CIC
3. Definition of Unrestricted Funds
   Unrestricted funds are income received without legally binding restrictions on how they must
   be spent.
   These funds may be used to support any lawful activity that advances the mission and
   community benefit objectives of Runners Media CIC.
   Examples include:
    General donations
    Unrestricted grants
    Corporate sponsorship without spending conditions
    Trading income
    Advertising revenue
    Consultancy income
    Membership income (where applicable)
    Interest earned
    Fundraising income without donor restrictions
    Other unrestricted contributions
   These funds differ from restricted funds, which must only be used for specific purposes
   defined by the funder or donor.
4. Objectives
   Unrestricted funds enable Runners Media CIC to:
    Maintain day-to-day operations.
    Support organisational sustainability.
    Invest in strategic development.
    Respond to unexpected challenges.
    Meet cash flow requirements.
    Develop new community initiatives.
    Match fund grant applications where appropriate.
    Build financial resilience.
5. Acceptable Sources of Income
   The organisation may receive unrestricted income from:
    Individual donations
    Community fundraising
    Corporate sponsorship
    Trading activities
    Media production services
    Advertising
    Consultancy
    Training services
    Crowdfunding
    Investment interest
    Legacy gifts where unrestricted
   All funding sources will be assessed to ensure they align with the organisation’s values.
   Runners Media CIC reserves the right to decline funding where acceptance may:
    Damage public confidence.
    Create conflicts of interest.
    Undermine organisational independence.
    Conflict with the organisation’s mission or values.
6. Use of Unrestricted Funds
   Unrestricted funds may be used for:
    Staff and freelance costs.
    Volunteer support.
    Office and administration costs.
    Insurance.
    Technology and equipment.
    Website and digital services.
    Community engagement.
    Marketing and communications.
    Training and professional development.
    Organisational development.
    Business continuity.
    Innovation and pilot projects.
    Match funding requirements.
    Building organisational reserves.
    Any lawful expenditure supporting the objectives of Runners Media CIC.
7. Expenditure Principles
   All expenditure must:
    Deliver community benefit.
    Represent value for money.
    Be properly authorised.
    Be supported by appropriate documentation.
    Comply with organisational financial procedures.
    Support the strategic objectives of Runners Media CIC.
8. Financial Controls
   The organisation will ensure that:
    All unrestricted income is accurately recorded.
    Financial records distinguish unrestricted funds from restricted funds.
    Bank reconciliations are completed regularly.
    Appropriate accounting records are maintained.
    Significant expenditure is subject to dual approval where required.
    Supporting invoices and receipts are retained.
9. Relationship with Reserve Funds
   Unrestricted funds may contribute towards organisational reserves in accordance with the
   Reserve Fund Policy.
   The Directors will determine the appropriate balance between:
    Delivering current community benefit.
    Maintaining adequate reserves.
    Investing in future organisational development.
10. Budgeting
    Annual budgets will identify:
     Expected unrestricted income.
     Planned unrestricted expenditure.
     Planned transfers to reserves where appropriate.
     Forecast cash flow.
    Budgets will be reviewed regularly throughout the financial year.
11. Monitoring
    The Finance Lead or Treasurer will monitor unrestricted funds through:
     Monthly financial reports.
     Cash flow forecasts.
     Budget monitoring.
     Variance analysis.
     Quarterly reporting to the Directors.
    Monitoring will ensure unrestricted resources continue to support organisational
    sustainability.
12. Reporting
    Information regarding unrestricted income will be included within:
     Annual financial statements.
     Directors’ reports.
     Funding applications where relevant.
     Annual Community Interest Company reporting (including the CIC34 or successor
    filing).
    Reports should clearly distinguish unrestricted funds from restricted funds.
13. Responsibilities
    Directors
    Responsible for:
     Approving expenditure.
     Monitoring unrestricted funds.
     Reviewing financial sustainability.
     Ensuring compliance with this policy.
    Finance Lead or Treasurer
    Responsible for:
     Maintaining financial records.
     Preparing management accounts.
     Monitoring unrestricted income.
     Advising on financial planning.
     Supporting annual reporting.
    Project Managers
    Responsible for:
     Managing approved budgets.
     Using organisational resources efficiently.
     Reporting financial risks promptly.
14. Ethical Funding
    Runners Media CIC will seek funding that supports its mission and values.
    The organisation may decline unrestricted funding where acceptance could reasonably:
     Compromise editorial independence.
     Conflict with community benefit objectives.
     Damage organisational reputation.
     Create legal or ethical concerns.
    Funding decisions will be made by the Directors.
15. Review
    This policy will be reviewed every two years or sooner if:
     Financial regulations change.
     Accounting standards change.
     Organisational risks change.
     Governance improvements are identified.
16. Related Policies
    This policy should be read alongside:
     Restricted Funds Policy
     Reserve Fund Policy
     Financial Controls Policy
     Procurement Policy
     Conflict of Interest Policy
     Risk Management Policy
     Anti-Fraud and Anti-Bribery Policy
     Budget Management Policy
17. Policy Statement
    Runners Media CIC recognises that unrestricted funds are essential to maintaining a resilient,
    sustainable and responsive organisation.
    By managing unrestricted income responsibly, transparently and ethically, we ensure that
    resources are directed towards achieving our mission of delivering high-quality community
    media, education and engagement while maintaining strong financial governance and public
    trust.
    Approved By
    Rumana Afroze Rakhi – Director
    Runners Media CIC (Reg: 15283707)