The Charity Commission has revised its Covid-19 guidance to include a section on finance, and makes it clear that trustees should think about whether certain projects, activities, or expenditure should be stopped or delayed to enable them to focus on essential spending.
It also talks about the possibility of releasing restricted funds. Here at Lodders we can advise in relation to this. The involvement of all trustees and full minute taking is strongly advised.
We understand that many charities are currently very concerned about their financial position. In the first instance, trustees should consider what are their short, medium and longer-term priorities, and see if they need to amend their financial planning given their current situation.