The Civil Service Benevolent Fund was established in 1886 as a benevolent society to support the widows and orphans of civil servants. I was initially established on a mutual model whereby members contributed in order to receive benefits when needed. The Fund became open to civil servants in need and their dependents irrespective of contribution in 1947. In 2012, the Civil Service Benevolent Fund rebranded and is known today as The Charity for Civil Servants.
Chart of Accounts Optimisation Review
12 months, £500k.
The charity was unable to produce accurate or timely MI / statutory reporting without extensive manipulation of data outside of the accounting system due to Chart of Accounts issues. By engaging with their accounting system solution provider, I identified constraints which restricted the viability of alternate CoA options prepared by the internal finance team.
Next, I assessed the remaining proposals, before recommending a preferred option based on logical reporting efficiency. Subsequently, I proposed some minor amendments to eliminate duplicative sub-analysis segments and mitigate a data transformation risk, optimising the internally produced design.
The recommended Chart of Accounts structure and related stewardship guidance were adopted. Significant improvements in financial reporting accuracy and process efficiency resulted.
Finance costs reduced by more than 20% (£30k p.a.).
Commenting on the outcome of our review, Maria Clohessy said: “Paternoster were tasked with reviewing a new Chart of Accounts for the Charity. Mark was extremely organised in planning and executing the assurance review. He delivered a comprehensive report which identified a number of issues and suggestions. His recommendations and findings were very helpful, and we had every confidence that in using Mark’s expertise, we could be assured of implementing a sound structure for our new Chart of Accounts design”
To find out more about the Civil Service Benevolent Fund, click here. Charity registered in England and Wales no. 1136870. The Charity for Civil Servants is registered with the Fundraising Regulator, supporting good fundraising practice