In this episode, Aishat dives into a crucial topic for anyone managing charity finances: understanding fund types. Starting with the basics of restricted and unrestricted funds, she unpacks common terms like designated funds, ringfenced funds, and general funds, explaining what they mean and how they impact a charity's financial operations. This episode is all about helping nonprofit professionals, trustees, and financial advisors speak the same language when it comes to fund management.Whether you're a trustee, staff member, or a charity’s accountant, this episode will provide clarity and practical tips to ensure your financial management is spot on.KEY TAKEAWAYSUnderstanding fund types is crucial for effective financial management.Restricted funds must be used as specified by the donor.Unrestricted funds offer more flexibility for charities.Designated funds are a type of unrestricted fund set aside for specific purposes.Ring-fenced funds can refer to restricted or designated funds, depending on context.ABOUT YOUR HOSTAishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.Work with Aishat: www.bancservices.co.ukCONNECTInstagramTikTok

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