I'd be grateful for input from any accounts/finance people on good practice.
A local charity gave my school a grant of £ccc for use for a ringfenced purpose.
My colleague and I recently asked for a printout so we could see how much money we have left to spend. After some resistance, we got a double-entry sheet showing various funds moving in and out of an account, but many were not for the ring-fenced purpose.
It's a long time since I did trust law, but my understanding is that sums like this are trust money (we are not free to spend them on anything other than the designated purpose) and so ought to be held in a special account.
I'd appreciate guidance on what's normal, what's right and how to go about improving the situation without making myself unpopular.
I thought of just making up my own account showing money spent from the award so far and sending it to the school office "for their information" but tbh I do think it ought to be in a separate account.