Covid-19 Cashflow and Furlough
Wed 15 Apr 2020
Are you concerned about your cashflow? Will you have the money to pay staff in your April payroll whilst you wait to claim for furlough?
There are a number of things you can consider:
- Talk to your Locality Officer if you haven’t already. They have information that can help you to access funds during this period and can support you through this difficult time.
- Your Board should be meeting to discuss a crisis plan. See our guidance to enable you to take action now.
- Your crisis plan should, at a minimum, be looking at your cashflow projections (even though they are likely to be wrong right now), assessing your obligations and contracts including payments, collecting monies owed and talking to those you have commitments to including landlords, funders and banks.
- Consider if you can use monies from your restricted funds or endowments. Check our guidance here.
- Contact the Community Foundation for Staffordshire who may be able to assist via their Covid-19 Emergency Grants (so far they have given over £120,000 to local groups)
If you don’t know who your Locality Officer is, you can find details here.