women and girls 6nov2014

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NGO Finance Policy

Page 1

6.1 Fund Receipt

6.1.1 Sources of Funds

NGO receives funds from the following sources:

i. Dollar supported project fund.
ii. Membership fees.
iii. Income from short term professional services and consultancy assignments undertaken by NGO.
iv. Grants Donations received from philanthropic organizations and individuals.

6.1.2 NGO Core Fund

The following are identified as NGO’s core programme:

A. NGO’s administrative expenses (house rent, utilities, administrative officer, peon).
B. NGO’s Ashreya Shivir Shelter.
C. NGO’s befriending service “Sumitra”.

Any programme coming to NGO must allocate some funds to support this core programme.

6.1.3 Signatories to Cheque Books

The President of NGO, its Treasurer and one other office bearer will be signatory to NGO’s cheques. Money can be released by the signatures of two signatories. However, any cheque of more than $________ will require the signature of the President.

6.1.4 Types of Accounts

The following three types of accounts will be maintained by NGO:

(1) Central Account

All income accrued to NGO will be deposited in the Central Account. The President, Secretary General and Treasurer are authorized to operate the bank account. Two signatures of either of these officials will be required for fund disbursement.

(2) Savings Account

NGO will keep fixed deposit savings account for its trust fund.

(3) Petty Cash Fund

A petty cash fund of $_______ is kept to cover payments not exceeding $_____. The Accountant/Office Administrator will handle this account and is to be liquidated every two weeks.

The President and/or Treasurer will ensure proper handling of petty cash fund through surprise checks from time to time.

Finance Policy: Page 1……. Page 2…….Page 3

More NGO Operational Policies:

1. General Personnel Policy (also Human Resource Policy)
2. Communications Policy
3. Computer Policy
4. Procurement Policy
5. Fixed Assets Policy
6. Finance Policy

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