On 29 August 2020 at 11:40, Chris Green said: > I have been doing some reading around this restricted/unrestricted > funds issue. > > I think in reality we have *no* restricted funds in our PCC. What I > *thought* were restricted funds are actually 'designated' funds. I.e. we > (the PCC) have made a collection for example 'for repairs to the church > roof', this is (as I understand it anyway) designated and while it will > probably be used to mend the roof the PCC is quite at liberty to change > its mind and do something else with the money. > > A restricted fund is something where the *donor* has specified that > the money is to be used for a specific purpose and is often long term and > may actually (though not necessarily) be an endowment or some such. > > I don't think I need to manage 'restricted' funds as we don't have any in > our tiny little church.
You may be right, but if a collection has been made *for a specific purpose* (such as "repairs to the church roof") then the contributors are entitled to expect the proceeds to be spent on that specific purpose, and so you should be running a "restricted" fund. The fact that there are dozens of people rather than a single donor is beside the point. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
