Charitable giving

Principles

Supporting charities is a good and positive thing to do but it is not really part of Halma’s corporate role.  Rather than making corporate decisions about the merits of worthwhile causes, Halma would rather ensure that its stakeholders receive the best possible rewards so allowing them to individually support their personal interests.

Charitable payments can pose problems if they are seen as a way of channelling funds to reward a third party by supporting their favoured cause.

Policy

The Group has no large-scale charitable giving programme but there is no prohibition on low-level local giving by Halma companies, provided that donations:

• Are small compared to the size of the business, normally less than GBP 250 (or local equivalent).
• Are to a registered charity, or a well-recognised and independent equivalent, whose purpose benefits a wide section of the population rather than a few individuals.
• Are not made in expectation of reward.
• Do not contravene local legislation.

Halma companies are allowed to fund student scholarships as a positive way of interacting with their local community provided that the means of choosing the beneficiary is demonstrably fair and open.

There is no intention to prevent employees continuing to organise their own fund-raising activities and charitable giving programmes.  These should continue to be agreed with local management.

Guidance

It is important that there is proper visibility and approval of this type of expense, therefore:

• Charitable donations within the above levels need your MD to sign off the payment.
• Donations that do not meet these criteria must have DCE signoff and be recorded in a register which will be reviewed by Group staff.
• Donations must be properly recorded in the accounting records and correctly shown in financial reports.