Audit committee People assigned to monitor the integrity of the Community Groups financial statements
Book keeping Keeping records of all monies that come in and out a group
Break clause A clause in a contract that defines the rights to terminate
Budget setting A written plan of finances to deliver objectives
Business case A written justification that captures the reasoning for a project
Companies House The public body that incorporates and dissolves limited companies and registers the information companies are legally required to supply.
Event Management Planning and co-ordinating  people, teams and topics to create every kind of event
Expenditure Money spent by the group
Financial monitoring and audit Regular checking and monitoring on the effectiveness of processes and related controls
Financial performance The Group’s finance performance over a period of time using the balance sheet, cash flow and income
Financial strategy Assessing financing needs and sources to meet objectives
Financial sustainability Securing stable and sufficient long-term financial resources
Funding officer Point of contact at your funding organisation
Governance This is the trustees role with overall responsibility for ensuring objectives, purpose, compliance with legal requirements, accountability, policies and activities are well governed
Income Money received by the group
Job substitution  The displacement of paid staff roles with volunteer roles
Lease term Period for which a lease agreement is in force
Management Committee A Management Committee is responsible for managing the affairs of the group
Mediation training Training for conflict resolution, improving relationships and encouraging people to talk
NICVA Northern Ireland Council for Voluntary Action
Payroll The total amount of money that a group pays to its employees
Purchasing Acquiring goods or services by payment at the most competitive price
Risk assessment Evaluating the potential risks that may be involved in a projected activity or undertaking.
Social Media Websites and applications that enable users to share content and network
Social media outlets Popular website and applications such as Facebook, YouTube, Instagram, Twitter, and others
Stakeholder analysis Identifying people or groups that could affect or be affected by a proposed action, then sorting stakholders based on their impact on the action and the impact the action may have on them
Sublet Lease of a property to a subtenant
Terms of reference Defines the purpose and structure of a committee, project, or group
Trustees Trustees have the overall legal responsibility for the group
Unincorporated organisation An organisation set up with agreement between a group of people with a common objective that does not include making a profit
Variances The difference between expected and unexpected income and expenditure or budget