Cashflow forecasting model

At least once a month, it's important to update and analyse the cashflow forecast model (you can find the link to this in Notion). Generally speaking, everyone in the co-op needs to know what the state of the finances is, so that collectively we can react to changes and make decisions in good time if it looks like we're heading for a difficult period.

Liaising with the Opportunity Development steward

Confirmed future income (signed contracts with clients) is the most important number to take care of, but it's also important to keep track of upcoming work and factor that into cashflow forecasts. Make sure you get updated estimates of budget sizes and probabilities from Productive, and that the Opportunity Development steward has kept these numbers up to date.

Grant Income vs Consultancy Income

Grant income is generally paid in advance for work that is yet to be done, while consultancy work is the opposite. This can lead to cashflow issues if a lot of income comes in advance, followed by a lot of consultancy work scheduled straight afterwards.