FINANCIAL REPORTING NGO
Subject: Report on Strategic and Financial Updates I am happy to give you an update on the financial situation and strategic advancements of our non-profit organization during the current fiscal cycle. We have continued to place a high priority on appropriate resource allocation and financial transparency during the last quarter. With 89% of spending going […]
INDIRECT ADMINISTRATION COST NGO
Procedure for Indirect Administrative Costs The NGO will set aside a portion of its overall budget to cover indirect administrative costs in order to guarantee financial sustainability and transparency. These expenditures include things like utilities, office rent, pay for administrative staff, IT assistance, and basic office goods that help the business run. These costs are […]
ASSETS CONTROL NGO
Procedure for Asset Control All permanent and movable assets obtained by purchase, donation, or grant financing must be listed in the NGO’s extensive asset register. A description, serial number (if relevant), acquisition date, cost, funding source, and location must all be included with every asset entry. To make monitoring and accountability easier, the finance or […]
PAYMENT PROCEDURE NGO
Authorization and approval of payments The agreed budget and financial standards must be followed for the NGO to be able to make any payments. Payment requests must be made using a standard payment request form and supported by the relevant paperwork, such as contracts, invoices, or receipts. Depending on the amount and kind of spending, […]
OPERATIONAL BANK ACCOUNT
OPERATIONAL BANK ACCOUNT The NGO must keep a specific bank account under its registered name to facilitate the efficient administration and openness of money. This account will only be used for initiatives that support the NGO’s advocacy, capacity building, and financial policy research missions. All expenses must be clearly tied to authorized projects or administrative […]
PAYROLL STAFF COST
Overview of Payroll Staff Costs Payroll staff costs account for a sizable amount of the NGO’s operating costs, demonstrating our dedication to employing skilled workers to efficiently oversee and carry out our initiatives. Salaries, statutory benefits, and allowances for all full-time and part-time staff members engaged in fieldwork, finance, program execution, and administration are included […]
GENERAL LEDGER
Overview of the general ledger: All of the organization’s financial transactions are centrally stored in the general ledger, which is kept up to date in compliance with the set financial policy. It offers a methodical log of every debit and credit entry made to different accounts, such as revenue, expenses, equity, liabilities, and assets. All […]
CASH BOOK PROCEDURE NGO
Procedure for Cash Books The NGO must keep a cash book to document all cash transactions every day in order to guarantee precise financial tracking and encourage openness. All cash inflows and outflows, including grants, gifts, petty cash disbursements, and reimbursements, must be reflected in the cash book, which the designated financial officer is required […]
INFORMATION AND COMMUNICATION NGO
financial Policy: Information and Communication Procedures Our NGO maintains explicit protocols for the exchange and communication of financial information in order to guarantee accountability and transparency. Every financial transaction needs to be precisely documented and promptly reported. The finance staff will provide monthly financial reports that include income, expenses, and budget variations, which the board […]
INFORMATION AND COMMUNICATION NGO
Author: Mohamed Yasin