TALKING FINANCES: Free Guide for Board Members now available! By Vanessa Nolan-Woods Head of Community Markets, Westpac In association with Our Community, Westpac Social Sector Banking (the Community Markets team) is proud to launch the new Guide for Community Board Members: Understanding Finances. This guide is the second in a series offered to community groups free of charge, and follows the popular Guide for Community Treasurers, which was launched in 2008 and revised late last year. The Guide for Community Board Members contains the vital information that board members need to know in order to completely understand the financial reports presented to them by their Treasurers. It explains balance sheets, income and expenditure statements, cash flow statements, accounting methods, planning and troubleshooting. By developing this guide with the assistance of industry and financial education specialists we hope to connect community groups with the educational resources they require to strengthen their organisation and achieve their long-term vision. Westpac has been working with community organisations of all sizes for years – local sports clubs, schools, national aged care facilities and everything in between. During this time we’ve learned that the demands and the opportunities of the non-profit sector are both unique and diverse. Understanding this, we aim to offer these organisations more than just banking services. We’re committed to: - Understanding your unique day-to-day financial workings and requirements - Designing and innovating our solutions and services to align with your needs - Providing specialist bankers, who are dedicated to servicing the community and social sector - Connecting you with the education, training and resources you need to effectively and efficiently manage your role in local communities. Westpac Social Sector Banking is also working closely with the Westpac Financial Education team to ensure that community organisations have access to discounted access to financial workshops. The Guide for Community Board Members can be read online, downloaded in PDF format, or ordered free of charge via the Our Community website – visit www.ourcommunity.com.au/freeguides. For information about any of the solutions we offer community groups email socialsectorbankingATwestpac.com.au.