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”.
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Any programme coming to NGO must allocate some funds to support this core programme.
6.1.3 Signatories to Cheque Books
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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
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The following three types of accounts will be maintained by NGO:
(1) Central Account
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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.
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The President and/or Treasurer will ensure proper handling of petty cash fund through surprise checks from time to time.
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More NGO Operational Policies: