CHAPTER-I
Accounting and Financial Management Policies
1.1 Accounting period
– The accounting period of ESHO JATI GORHI shall be from 1 July to 3Oth June.
– The accounting period of the projects shall be in accordance with the agreements with the Donors which may be different from the accounting period of ESHO JATI GORHI. The accounting period of the respective projects shall have to be approved by the Donors and The NGO Affairs Bureau.
1.2 Accounting principles
The fundamental accounting principles of ESHO JATI GORHI shall be as follows:
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The accounts shall be maintained according to the Double Entry System of Accounting. |
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The consolidated accounts of ESHO JATI GORHI shall be maintained under accrual basis accounting. However cash basis accounting will be followed for individual projects if the conditions of grants from the donors dictate a cash basis accounting. |
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The accounts shall be maintained under historical cost convention on a going concern basis. |
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ESHO JATI GORHI shall follow International Accounting Standard in preparing its: |
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Receipt and Payments Statement |
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Income and Expenditure |
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Cash Flow Statement |
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Balance Sheet |
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Notes to the accounts |
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Depreciation should be charged on the various categories assets under straight line method. |
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All the Centers shall maintain complete sets of accounts in respect of their transactions separately for each project and annual accounts shall be prepared by consolidating accounts of all the Centers and the Head Office. |
1.3 Accounting system at the Head Office of ESHO JATI GORHI
| ESHO JATI GORHI executes a number of projects simultaneously. The accounting system of ESHO JATI GORHI shall be organized in such a manner that the accounts of all the projects are separately and distinctly maintained and all transactions can be identified according to respective project(s). The basic policy in this regard shall be as follows: |
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there shall be separate sets of books and records for each and every project whether funded by donors or from own sources. |
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all income and expenses of the respective projects shall be separately accounted for. |
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there shall be separate chart of accounts for each project for recording the project’s transaction. |
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financial report for each project shall be separately prepared |
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Consolidated financial statements shall be to prepare in order to reflect the state of affairs and results of the organization as a whole. |
1.4 Organization structure of the Accounts Department
The organization structure of the Accounts Department shall as follows:
| The Director (Program) will be the head of the department who will report to the Executive Director. There will be three sections under the Director (Program) namely: |
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Treasury Section |
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Financial Accounting Section |
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Management Accounting Section |
1.5 Functions of Accounts and Finance Department
| The overall responsibilities of the Accounts and Finance Department will be as under: |
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Oversee all accounting activities of EJAG |
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Prepare monthly Receipts and Payments Accounts for all projects and ESHO JATI GORHI and for submission to the Executive Director |
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Coordinate, collect and verify monthly accounts from the Centers separately for each project. |
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Prepare annual financial reports of all projects. |
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Prepare consolidated accounts for the organization. |
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Coordinate with external auditors for audit of accounts of the projects as per requirements of the Donors. |
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Coordinate with the external auditors for statutory audit of the organization |
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Prepare budget for EJAG. |
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Control all expenses according to budget. |
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Prepare projections for funds on the basis of budgets. |
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Monitor budgets and supplying information to other departments. |
- a) Function of Treasury Section
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Make payments by cheques or cash by examining bills/invoices for various expenses after final authorization by the Director (Finance). or the Executive Director depending on the delegation of financial power. |
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The Treasury Section will prepare the payment vouchers as per supporting bills which will be checked by Director Orogram as to allow ability, allocation etc. with the project budget which are to be approved by the competent authority as per table of authority. |
The authority limit for passing of expenditures for payment shall be as follows:
| SL NO. |
Designation |
Financial Limit |
Remarks |
| 1 |
Accounts Officer |
1,000.00 |
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| 2 |
Coordinator |
5,000.00 |
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| 3 |
Director Program |
10,000.00 |
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| 4 |
Executive Director |
25,000.00 |
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At the center offices the expenditure vouchers will be prepared by the Accounts officer and checked and approved by Center Manager/In-charge subject to financial approval authority. |
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Pay salary and allowances to all staffs by bank transfer or through cheques or cash. |
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Make payments of Center Offices after verification/adjustment of previous unspent balance or as per financial action plan. |
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Control all bank accounts of Head Office and Center Offices. |
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Withdraw fund from banks according to the need (as per requisition or monthly financial action plan). |
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Depending on the need of the Center Offices send fund through Demand Drafts or A/C payee cheques. |
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Settle accounts of the outgoing staff of EJAG. |
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Two staffs shall maintain the cash and bank books (one for cash and the another for bank). |
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The Accountant.(cash and bank) must update the cash book on a daily basis. |
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The Accountant. (cash) shall preserve the cash, cheque book, bank pass book, cash book etc. in safe locker in the office premises. |
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She/he will prepare a cash custody certificate and which must be signed by joint signatories i.e. cashier and head of A&F. |
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The cashier will be directly liable for all cash. |
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The Accountant , (Bank) shall update the cheque register and the bank book daily. |
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The advance registers shall be maintained by the Accountant. |
- b) Function of Financial Accounting Section
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Give posting to all subsidiary and general ledgers. |
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Collect, verify and consolidate all reports from various offices, |
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Record all transactions between Head Office and other offices. |
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Prepare financial reports quarterly i.e., income statement, balance sheet and cash flow statement. |
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Prepare financial reports according to projects at periodic interval. |
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Reconcile all transactions of H. 0. and other offices. |
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Maintain the accounts related to Gratuity fund of all staffs. Arrange and coordinate external auditing of the accounts of EJAG and all projects. |
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Prepare financial reports and provide information to the Director according to her or his need. |
- c) Function of Management Accounting Section
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Preparation of various periodic reports for the management |
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Determine and analyze budget variances |
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Monitoring implementation status of projects |
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Assist the program heads in the preparation of budgets |
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Preparation of various reports and compilation of data for use of management. |
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Preparation of DS report as per needs of the management |
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Preparation of monthly financial report. |
1.6 Chart of Accounts
Separate Chart of Accounts shall be maintained for identifying the expenditure or income of each project executed by EJAG. The responsibility for preparation of the Chart of Accounts shall be with the Financial Accounting Section of EJAG. While preparing the Chart of Accounts it shall be that expenditures are segregated into the following categories:
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Receipts grants/donations |
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Direct Program cost |
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Personnel cost |
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Capital expenditure |
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Program support cost/Admin cost |
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Overhead cost |
Classes of Receipts
| SL. No. |
Heads |
Accounting Treatment |
| 1 |
Grants in cash Income |
Income |
| 2 |
Grants in kinds (foreign & Local) |
Income |
| 3 |
Local Contribution/Subscription |
Income |
| 4 |
Own Contribution |
Income in Specific project |
| 5 |
Group savings |
Liabilities |
| 6 |
Fluctuation gain/loss |
Income/Expenses |
| 7 |
Small donation |
Income |
| 8 |
Internal bill/Service providing bill |
Income |
| 9 |
Sales of Tree |
Income |
| 10 |
Any kind of Miscellaneous sales |
Income |
| 11 |
Service Charges(Credit Program) |
Income |
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In recognizing income the requirements of International Accounting Standard 20 must be taken into account. |
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Inter project internal bills can be raised by one project on the other if one or more projects use the organization’s premises, training center and other related materials. |
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Efforts should be made to bring about uniformity in the classification of expenditures so that the process of preparation of budget and budgetary control is facilitated |
1.7 Separate Project Accounts
ESHO JATI GORHI shall maintain separate books of accounts in respect of each project for restricted fund financed by Donors. Similarly separate accounts are also to be maintained for non-restricted funds and other projects identifying each project separately.
| For each of the project the following books and records must be maintained: |
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a) General Ledger |
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c) Subsidiary Ledger such as advances register, fixed assets register, etc. |
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d) Vouchers bearing account codes and project codes of each project |
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e) Cheque Register |
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f) Fixed assets register if need by the donor |
1.8 Computerized Accounts
The maintenance of separate books and records will be greatly facilitated if the accounting functions are computerized. It is therefore recommended that ESHO JATI GORHI takes immediate step to computerize its general accounting functions by using standard accounting software which may be developed over a period of time based on the specific needs of ESHO JATI GORHI . There will be many advantages, which will accrue to the organization if the accounting system is computerized. The coordinator or head of A&F must be responsible of the accounting software. S/he maintains the security of the software. Amongst others the following are the main advantages of computerization:
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a) Speedy preparation of accounts and statement |
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b) No backlogs in the preparation of periodic accounts |
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c) Timely monitoring of project finances |
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d) Meeting of donors reporting requirements. |
1.9 Daily funds position
| The Treasury Section of the Accounts Department of ESHO JATI GORHI shall prepare at the end of each day’s transactions a consolidated funds position statement as per the following format: |
ESHO JATI GORHI
Daily Funds Position Statement
On 2023
| Project No. |
Bank A/C No. |
Balance last day |
Balance today |
Increase/Decrease |
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1.10 Control over funds
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a) Separate bank accounts shall be opened for each project. |
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b) Expenditures of each project be met from the respective bank account. |
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c) Inter project transfer of fund shall not be allowed. If emergency need it will be allowed for temporary diversion only. |
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d) All payments exceeding Taka 5,000 be made by A/C payee cheques or DD but some special cases the authority can relax with the prior approval. |
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e) At the end of each month Bank Reconciliation Statement be prepared for each bank account. |
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f) At the head office level at the end of each working day maximum Taka 5000 shall have cash in hand project wise or in ESHO JATI GORHI own fund. |
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g) At center office level maximum Tk.5000.00 has to be hand at the end of each working day in each fund. |
1.11 Accounting at Centers
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The Centers shall maintain separate books of accounts in respect of each project carried out in the Centers. |
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At the last day of each month each Centre shall forward a Receipts and Payments Account (Statement of Affairs on cash basis) to the Head Office for preparation of consolidated accounts of each project. |
1.12 Inventory Management
| At the head office level the head of administration will be headed and responsible for all store items. A central store facility shall be established for storing the items purchased at Head Office. A Store officer shall be responsible for overall management of the store. Store Register shall be maintained for day to day movement of store items. All goods received shall be verified by the Store officer with the copy of Work Order Store officer shall acknowledge receipt of goods on the Delivery Challan received from the supplier.
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| Store Requisition shall be raised for all items issued.
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| Physical inventory of store items shall be taken twice a year. If the management concern that the store should specially verify and could it
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| At center offices, the Accounts officer should be responsible for overall management of Store. |
1.13 Monthly closing of Accounts
| The accounts of every project of ESHO JATI GORHI shall be closed at the end of each month. |
1.14 Compilation of half-yearly and annual accounts
| ESHO JATI GORHI shall compile consolidated half-yearly and annual accounts as per the following schedule:
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Annual Accounts-within three month from the close of the accounting year. |
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For donor it will be followed that as per need of donor the periodic financial statement will be prepare. |
The annual accounts and half-yearly accounts shall be prepared in a manner as would give a full picture of the financial state of affairs of the organization as whole as well as Receipt and Expenditure Statement, Income and Expenditure Statement and Balance Sheet of each individual project.
CHAPTER-I I
Table of Financial Authority
The table of financial authority that is to be followed in getting financial approval relating to any payment for goods or services or for any other reasons is specified in the table following:
| Subject/ Value |
Proposes |
Authorizer |
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1. Project/Program
Budget |
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Budget for project! Committee |
Executive Director |
Executive |
| b) |
Program that requires
Donor resource. |
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Budget for own fund Committee/Non Budget |
Executive Director |
Executive |
- Approval of Requisition
Every Program/Project head approved the every branches requisition in monthly basis and after compilation of the centers requisition the Executive Director approved the master requisition in monthly basis i.e. Administration department also approve the admin expenses requisition as the same process. The requisition of capital expenditures will make admin department and approved by the Executive Director.
- Bank account operation
- (a)
The Mother accounts for Foreign and Local Grant must be operated by the Chairman, Executive Director and the Treasurer for any amount jointly but the Executive Director is mandatory.
- (b)
Another account will be open for every project; the primary objective is to transfer the total amount to the said Project account.
3 .(c)
The operational account of head office in every projects will be operated by the Executive Director, and Director Program and the project’s center account will be operated by the Center Manager and respective head of the project/program jointly.
CHAPTER-Ill
Payroll
1.0 Salary and Benefits
Staff Salary & benefits will be pay as per personnel management policy.
CHAPTER- IV
Advance
To complete the projects, it becomes essential to procure goods and services from different persons or organizations at from time to time and in doing so, advance payments need to be made. Depending on the particular situation, these advance payments may be made directly to outside persons or organizations as well as to ESHO JATI GORHI ’s own staff.
The procedures of how to adjust this advance should be spelled out at the time of making the advances. In case of advance made to ESHO JATI GORHI ’s staff, the advance amount is adjusted against the bills submitted by them.
In case of suppliers, the advance is adjusted against the bills submitted by them. It is quite essential to properly maintain the accounts in respect of advance payments and their subsequent adjustments. Any advance to staff shall not remain inadequate beyond 7 days.
- Types of advances and adjustment/realization procedures
| 1 |
Advance to Staff |
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a |
Advance against conveyance and transportation expenses |
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b |
Advance against purchase |
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c. |
Advance for program expenses |
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Advance to third party |
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Advance against house rent Advance to the contractors |
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b |
Advance to the contractors. |
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c |
Advance to materials suppliers/service providers/or |
2.1 Advance to staff
| a) |
Advance against conveyance and transportation expenses:
ESHO JATI GORHI’s staff frequently travels to different areas on official purposes. Besides, they also have to travel from one Centre to another and between Head Office and Centre.
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| b) |
ESHO JATI GORHI staff is entitled to take advance to meet the transportation & traveling expenses. Travel advance shall only be given against valid travel authorization. It must be adjust within 15 days after completion of travel. If the authority need to immediate adjust in the end of accounting period the advance also must be adjust in short time. |
| c) |
Advance given against materials purchase:
To carry out routine duties and activities related to different project, various types of goods & materials need to be procured. Out of these materials, some are purchased through ESHO JATI GORHI staff while others directly from outside suppliers. Advance may be allowed to employees against such purchases. The purchase committee must be followed the purchase procedure.
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Advance for program Expenses:
For implementing development and emergency programs, designated person can be given an advance. The amount of advance will be determined by the program head. In case of the program head taking an advance, the Executive Director has to approve the request. A person already taken an advance, should not be given a second advance, unless adjusted.
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The advance has to be adjusted within seven (7) days of the implementation completion.
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2.2 Advance to third party
| a) |
Advance against house rent
Advance may be given in case of rental of houses for official purposes by ESHO JATI GORHI, the following procedures are applicable: |
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Rental of house initiated upon contractual agreement between ESHO JATI GORHI and the owner of the house. |
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Any authorized staff on behalf of ESHO JATI GORHI and carry out the initial formalities needed prior to the rental of the house. The Administration Department on behalf of ESHO JATI GORHI, however, will sign the agreement. |
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The house owner will be given advance against house rent as per terms and conditions of the agreement. |
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The advance will have to be adjusted/recovered as per terms and conditions as may be laid down in the agreement. |
| b) |
Advance to the contractor |
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To construct of ESHO JATI GORHI’s office buildings, contractors are appointed as and when required. The admin department must be make the relevant documents as Tender/board notice, Schedule sale, Application verification, comparative statement, committee signature, work order, contract/agreement paper etc. Respective authorized officer of the Administrative Department initiates the construction work upon issuance of work order. |
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After a request for advance payment gets proper approval, the Accounts Department will make payment by A/C payee Cheque or A/C payee DD. |
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The contractors may submit running bills (i.e. current bills) against partially completed construction works. At the time of submitting the current bill, the advance payment prior to this bill will have to be adjusted against this current bill. |
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After completion of the entire construction job being assigned, the official ‘hand-over’ of works to the respective authority takes place. The final bill is prepared after finalizing all the estimation and calculation of the works being completed. All the advance payments are shown in this bill and adjusted accordingly. The contractor and engagement Engineer will sign the final bill. |
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Always the bill must be paid by A/C payee Cheque or DD. |
Security Money
| Security money usually ©10% shall be deducted while payment of running bills and the final bills of all construction works. This security money, at the written application of the contractor, refunded after a minimum period of 15 days since the official hand-over of the works being completed. Security money in all cases will be refunded from the head office only.
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| If ESHO JATI GORHI want to make any construction/development work a three members committee will be form and maintain proper system. |
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c) |
Advance to material suppliers/service providers
Sometimes advance needs to be made to the materials suppliers and the service providers at their request. At the time of procuring materials, ESHO JATI GORHI’s procurement procedures are to be followed. |
CHAPTER-V
Fixed Assets
| ESHO JATI GORHI shall recognize any material/asset as fixed asset, which meets the following criteria. |
| a. |
Expected life of the asset is more than one year. |
| b. |
An asset whose cost exceeds Taka. 1,000.00 |
| c. |
The related asset must be tangible. |
| d. |
Expected life of the asset is more than one year. |
| e. |
An asset whose cost exceeds Taka. 1,000.00 |
| f. |
The related asset must be tangible. |
| g. |
Economic benefit must be generated from the asset. |
| All the fixed assets of ESHO JATI GORHI will be control, supervision, monitoring, take care, etc. by the Administration Department. Any employee or others cannot be using any of assets of ESHO JATI GORHI personally. If it is found that any employee or others are using any ESHO JATI GORHI assets it will be take the violation of ESHO JATI GORHI policy. Executive Director or Administration can take necessary action against that employee as per Personnel Management Policy &against the outsider as per management/authority’s decision. |
2.0 Procurement of fixed assets
| All fixed assets shall procured/purchased by ESHO JATI GORHI at head office level by the Administrative Department. Purchase should always follow ESHO JATI GORHI’s procurement policy. It is worth mentioning that the fixed assets will always be recorded at original cost plus any capital cost incurred thereto. |
3.0 Fixed Assets Register
| Fixed assets play an extremely important role in every organization. As a result, there is an ever-growing need to maintain and up-date various data and information with regard to these assets. The following data are required as regards fixed assets: |
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a. |
Date of purchase |
| b. |
Description of assets |
| c. |
Quantity of assets |
| d. |
Value of the assets |
| e. |
Location |
| f. |
Depreciation rate |
| g. |
Identification mark |
| h. |
Any other information |
| To have all these data at a glance, a separate register for fixed assets should be maintained. Such register shall be one of the major control tools for fixed assets.
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| As soon as the procurement of fixed assets takes place, various data related to those assets would have to be recorded in the fixed asset register. A format of fixed assets register is given in below: |
ESHO JATI GORHI
Fixed Assets Register
Group of Assets……………………………..
Rate of Depreciation…………………………
Description:………………………
| Date of purchase/sale/
transfer/ depreciation |
Voucher No. |
Assets identification number |
Location |
Cost |
Written down value |
| Qty |
Rate |
Total Cost |
Depreciation |
| Taka |
Taka |
Taka |
| 1 |
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| A brief description of filling up of fixed assets register is given below:
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| Description: |
Items of fixed assets are written here. For example chair, table etc. |
| Group of assets: |
Group (line item) of fixed assets is mentioned here. For example, furniture & fixture is a group. |
| Rate of depreciation: |
Percentage of depreciation should be written down here.
Date of purchase/sale |
| Transfer/depreciation: |
Purchase, sales/transfer and depreciation are mentioned here according to their date. |
| Voucher No: |
If fixed assets are purchased, debit vouchers are mentioned here. Particulars of fixed asset will be mentioned with debit vouchers. When sale or transfer of fixed assets is made credit/journal vouchers are prepared. Quantity rate, identification no. etc should be mentioned in credit/journal vouchers. A journal voucher also should be prepared for monthly depreciation charged. Details break up of depreciation of different fixed assets should be mentioned here. When sales/transfer of fixed asset is made, the related accumulated depreciation will also be removed from general ledger by debiting accumulated depreciation a/c and crediting fixed assets a/c.
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| Assets identification no: Identification number should be attached with all movable fixed assets with unreadable ink. The following procedures are to be followed in attaching number with fixed assets:
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| a. |
Three digit number for particular project. |
| b. |
Two digit number for group assets. |
| c. |
Two digit number for particular assets within the group of assets. |
| d. |
Three digit number for identification of assets. |
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| Depreciation is an allocation of the cost of a fixed asset over the period of its useful life. There are several procedures for computing depreciation. For ESHO JATI GORHI, all fixed assets will be depreciated on reducing/diminishing.
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| If any salvage value is considered for an asset on its expiry of expected life, this amount is to be deducted from initial cost to arrive at the depreciable amount. On arriving at the depreciation amount, it is expressed in terms of percentage of cost of the related assets. |
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| Assets category |
Depreciation rate |
Remark |
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| Land
Building (1st class) |
4% |
Higher/lower depreciation may be charged depending on the nature of building |
| Building (others) |
5%-15% |
Do |
| Furniture & Fixtures |
l0% |
Do |
| Office equipment |
15% |
Do |
| Electrical equipment |
20-33% |
Do |
| Vehicle |
20% |
Do |
| In the financial accounts, the fixed assets should be written down to its recoverable amount by deducting accumulated depreciation from the total cost of the asset. |
5.0 Sale/Disposal of fixed assets
If an item of fixed asset gets permanently unusable, broken, and obsolete or is no longer necessary then, this item could be sold out.
The following procedures will apply in case of selling of fixed assets, which is owned by the organization:
- A committee for selling fixed assets should be formed,
- The committee will invite circulate/collect the quotations from parties.
- The committee will thus evaluate the quotations and finally sell off the assets to the highest bidder/quoter.
6.0 Transfer of fixed assets from one location to another.
It is a part of normal course of business that fixed assets are often transferred from one office to another within the organization. Sometimes ESHO JATI GORHI’s HO based fixed assets are transferred to Centre Offices and vice versa. All such transfers are executed only by the Administration Department in consultant with the Staff Working Committee (SWC) and relevant records must be updated.
CHAPTER-VI
Reporting
1.0 Introduction
Generation of various financial reports or financial Statements is the ultimate product of the finance and accounts department. All financial transactions generated throughout the year are recorded in a set of books and records. A systematic recording system facilitates an accountant to prepare financial report as per the requirements of the users.
Financial reports contain a typical presentation of financial data. Sometimes for better understanding, these reports also include some narration. Statutory financial statements are prepared in accounts with accounting concepts, convention and other applicable standards. But in other cases, reports are prepared based on the requirements of the users. However, the financial data for both the cases are generated from same set of books.
The users of ESHO JATI GORHI’s financial reports are as follows:
– Internal users such as Head of A&F Section, GS, Directors, Executive Committee etc.
– Donors
– Government of Bangladesh
– Financial Experts/Researchers/Evaluators
– External/Internal Auditor
– Others
To meet the requirements of above users, the reports are prepared under the following groups.
– Internal reports
– Donor reports
– Statutory reports
The Management of Accounting & Finance Section is responsible for preparation of these reports. Accounts Officers shall assigned for preparing project financial reports.
2.0 Internal Reports
These reports are prepared for the purpose of internal users only. The internal reports are as follows:
2.1 Monthly Project-wise Receipts and Expenditure statement.
This statement presents monthly receipts and expenditure as well as cumulative picture up to that month of any project. It enables GS to monitor the financial position of the project.
Users: Section/Project Heads, Financial Manager and related project Accounts Officers.
Format of this statement is given below: If the donor selects its self format then we must use this.
Project Name: ________________
Monthly Receipts and Expenditure Statement
Month: _____________ Year: _____________
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Budget July…to June… |
This month |
Cumulative up to this month |
Balance Taka |
% of Budget spent |
| Receipts |
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| Expenditure |
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| Total expenditure |
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| Closing balance |
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2.2 Monthly Receipts and Expenditure Statement (Head Office)
This statement includes head office cash receipts and payments. This statement is done in order to understand mainly the cash and bank position. It helps making next months projections because it shows cash and bank balances at the month end. It also helps comparing data with similar previous period, as it contains previous data beside the current period data.
Users: Executive Director, GS, Section Heads.
Format of this statement is given below:
ESHO JATI GORHI, Head Office
Receipts and Expenditure Statement
For the month of…………………
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Receipts |
July,……….
Taka |
June,……..
Taka |
Increase/
(Decrease)% |
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| Total receipts |
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| Expenditure |
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| Total expenditure |
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2.3 Quarterly Cash Flow statement (Project wise)
| This statement is prepared at the end of each quarter. It shows both actual data and projections for the future quarter. It informs the users about the total cash inflow and outflow of any project.
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| Users: Executive Director, Program Head.
Name of the Project
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Cash Flow Statement (Actual and Projected)
For the period from………………….
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Jul …to
Sep…
Actual
(Taka) |
Oct….to
Dec….
Projected
(Taka) |
Jan ….to
Mar…
Projected
(Taka) |
Total
(Taka) |
| Cash Inflow |
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| Net surplus/(deficit) |
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- Project-wise budget variance analysis
| This analysis is made on monthly or sometimes on quarterly basis. It provides a columnar analysis of budgeted and actual data. This report also contains the percentage of variance and the reasons for variance. |
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| Users: |
Finance and Accounting Department, Executive Director, Programme Heads and Centre Managers. |
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Format of this statement is given below:
ESHO JATI GORHI
Project Name:
Comparative Statement: Budget Vs Actual
For the period…………………….
| Description (Budget line) |
Budget Amount
(Taka) |
Actual Amount-
Expenditure |
Variance |
Utilization% |
Balance |
Remarks |
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Last month |
Current month |
Total |
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As per donors’ requirements following reports are prepared:
2.5 Half-yearly/Quarterly financial report
| It is a columnar financial statement report prepared as per donors’ requirement. This report also contains budget and actual data for relevant six-monthly/quarterly period. It also contains analysis of Budget variance, |
2.6 Report of external evaluators
| ESHO JATI GORHI implements various types of projects. Many donor agencies are involved with ESHO JATI GORHI in project implementation process. They appoint various evaluators to perform financial evaluation of projects. Thus as per the evaluators’ requirements, different kinds of analysis and reports are prepared. |
3.0 Statutory Reports
These reports are prepared as statutory requirements to ESHO JATI GORHI. Some of these are required by the constitution of the organization while some have legal requirements to be prepared.
3.1 Annual Financial Statements
ESHO JATI GORHI is to prepare annual financial statements at each year-end on June 30. This financial statement is basically a consolidation of all projects’ annual financial statements.
The consolidated financial statement includes:
- A Balance Sheet
- An Income & Expenditure Statement
- A Receipts and Payments Accounts Statement
- A Cash Flow Statement and
- Related explanatory notes
| This financial statement is audited by the independent auditor and published in the annual report of ESHO JATI GORHI for public use. |
3.2 Reports for NGO Affairs Bureau
NGO Affairs Bureau has a requirement for ESHO JATI GORHI (an NGO) to submit a set of financial reports along with auditor’s certification (FD-4) for each donor-funded project. These reports are to be submitted annually. Besides, NGO Affairs Bureau may require ESHO JATI GORHI to submit any other report on the donor-funded project at any time.
