Finance

To set up a toy library you should try to secure funds for approx £1000. This will enable you to buy a range of equipment to suit all age ranges and stages of development.

You could consider fund raising, raffles, sales, grants or donations. Once you have your equipment you need to think about a 'Charging Policy'.

You need to decide how much you will charge per week for toys borrowed. You need some sort of 'cash book' to record money paid and a lockable cash box for payments. Incoming and outgoing money should be recorded with the receipts for new items bought.

You could also record in this book any toys that have to be removed because of damage. If using a book system some typical headings may be:

Name of Member	Date	Item Borrowed	Money Paid	Item Returned	Item to be Removed because of Damage

Your finance section could be at the back of the book and should show a running total of money in your account.

Date	Total Money Collected This Session	Total Money	Expenditure Items Bought	New Total

If opening a bank account the account should be opened in the name of the toy library with two workers as signatories.