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Finance Department Core Functions

1. Ensuring that Financial policies and procedures are in place  and implemented

  • Keeping and maintaining of financial records in accordance with the accepted accounting principles
  • Preparation of financial reports for all relevant stakeholders including the Regional Office
  • Preparation of monthly reconciliations for all suspense accounts
  • Monthly checking of payroll for compliance with the statutory laws
  • Preparations for the annual audit by external auditors and providing them with all the information they require
  • Posting all financial transactions to the Navision system
  • Making payments to all creditors of the Association
  • Variance analysis, comparing actual against what is planned

2. Budgeting and Budget Controls

  • Providing guidance to the Association’s budgeting process and aligning it to the annual plan
  • Ensuring that the final budget is submitted to the Regional Office within deadline
  • Monthly monitoring the Membership’s expenditure against the approved budget through the use of projections

3. Ensuring that the Associations resources are safeguarded, used appropriate and efficiently

  • Ensuring that a transparent procurement policy is implemented
  • Monitoring the cash flows of the association
  • Ensuring efficient and economical use of financial resources to the best interest and to benefit the child.

4. Managing Financial Risk

  • Keeping the organization as a going concern by adhering to all financial policies and procedures of the Association
  • Continuous development of the internal controls system
  • Reviewing and development of financial policies and procedures
  • Ensuring that identified financial risk are mitigated and addressed

Major Achievements

The department has developed the following financial policies which were not in place;

  • Procurement Policy
  • Acquisition and Disposal of Assets
  • Transport Policy
  • Petty Cash Policy
  • Financial Policy and development & implementation of the projection template

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