Guest Posted November 6, 2010 Share Posted November 6, 2010 Hi all On committee of out of school club and was asked by by supervisor at pre-school if we had this as we need it! We are with Micahel Morton and I think only the bog standard OOSC policy but i have got the treaurere to check. Do you have this? Who is it with? Im thinking we need one that not only protects the trustees from finance stuff but also lots of other things to eg staff Any recommendations?? Thanks Link to comment Share on other sites More sharing options...
AnonyMouse_11396 Posted November 6, 2010 Share Posted November 6, 2010 Hi yes we are with PSLA for our sessional pre-school and we have an additional cover for our Trustees/ committee members. I would definetly get someone to check better safe than sorry. Link to comment Share on other sites More sharing options...
AnonyMouse_3139 Posted November 6, 2010 Share Posted November 6, 2010 I cant remember what ours says, its one of those things that I havent got round to checking...but, the Charity Commission web site says you would have to be in severe breach of the rules for any action to be taken against you should things go pear shaped. As long as you acted in good faith and tried your best it isnt necessary to have, so I'm not in any rush to check. Actions against trustees are made very, very seldomly. Ths might be useful Scroll down to part 3 for information on TLI Link to comment Share on other sites More sharing options...
Guest Posted November 6, 2010 Share Posted November 6, 2010 Hi, we have this, the main reason you need it is to cover trustees in the event that the preschool owed money. Without it, the trustees are liable for any financial shortfall! They really do ask a lot of us, don't they? Link to comment Share on other sites More sharing options...
AnonyMouse_15046 Posted November 7, 2010 Share Posted November 7, 2010 Hi, we have this, the main reason you need it is to cover trustees in the event that the preschool owed money. Without it, the trustees are liable for any financial shortfall! They really do ask a lot of us, don't they? The trustees of our village pre-school are in exactly this situation as it has just closed and there are insufficient funds to cover the redundancy payments. Link to comment Share on other sites More sharing options...
Guest Posted November 7, 2010 Share Posted November 7, 2010 How awful for them! Have they spoken to ACAS or their insurers for advice? When I wrote our reserves policy last year I was horrified at how high our reserve had to be to cover this (we were fine, we had enough luckily). What you find with a lot of locally run preschools is they are staffed by people who have been there for years and who would require a large redundancy payment if they closed. Link to comment Share on other sites More sharing options...
Guest Posted November 7, 2010 Share Posted November 7, 2010 Hi Thanks guys..oosc is ok financially and has reserves too but think we should just get into the habit of getting this insurance for future committees. Link to comment Share on other sites More sharing options...
AnonyMouse_30128 Posted November 7, 2010 Share Posted November 7, 2010 we have this insurance and if you read the info on vanessa george i am really glad we have ... the committee in that situation are in a really difficult position Link to comment Share on other sites More sharing options...
Guest Posted November 8, 2010 Share Posted November 8, 2010 Why on earth do the LEA not insist that this is a condition for all voluntary run preschools? Link to comment Share on other sites More sharing options...
AnonyMouse_7120 Posted November 9, 2010 Share Posted November 9, 2010 totally agree with you SuzieC8, we also have it.....and i think it helps when asking parents to come onto the committee if they are made aware of this. Link to comment Share on other sites More sharing options...
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