1. Financial Supervision and Task Segregation Through appropriate financial duty segregation, the NGO will establish a system of checks and balances to guarantee accountability and transparency. Important financial tasks, including asset custody, recording, and permission, will be delegated to other people. All budgets, financial reports, and significant transactions will be routinely reviewed and approved by the board of directors or a designated finance committee. 2. Cost Controls and Budgeting Before each fiscal year begins, the board will create and approve an annual budget. To avoid going over budget, every expense needs to be re-approved and monitored. All expenses must have receipts and supporting documentation, and the use of petty cash will be restricted and closely watched. To assist guarantee that funds are used exclusively for mission-aligned reasons, regular internal evaluations will be conducted. 3. Auditing and Financial Reporting The organization’s financial health will be tracked through the preparation and examination of monthly financial statements. External financial evaluations or independent yearly audits will be carried out to confirm adherence to donor specifications and legal obligations. All financial documents will be safely kept and easily available for funders, stakeholders, and regulatory bodies to examine.
Author: Mohamed yasin
