FINANCIAL PLANNING AND MANAGEMENT

The organization has a financial policy and procedures in place. Our financial resources and revenues shall be based on wide variant on the number and types of donors and internal resources and income available. We ensured donor’s monies are directed for the intended purpose as specified in the project agreement and/or contract. We continued upgrading our financial systems. However, cashbook, request and payment voucher are used and computerized spreadsheet to record and track financial transaction in XL spreadsheet; but the system will be improved as the organization continues its development.

All financial transaction goes through request, authorization by line supervisor and final approval by the Global Chief Executive Officer. These also include bank transaction. Payment is always justified with supporting documents. We also ensure at least two signatories to make withdrawal from the bank. We have ensured that finance Officer has the leverage to perform duties and responsibilities without unduly influence or pressure from management. The finance officer is also responsible for bank reconciliation on monthly basis, ensuring payment request invoices, receipts and payment vouchers.