Cash-flow, budgets, slips, invoices, quotes, vouchers,… were our daily concern. And now will be yours too!!
We started the day by looking at the internal controls to help us align objectives and understand the importance of good financial management. It also facilitated discussions around the financial activities of IY which led us to draw up our branch specific budgets for 2011.
Our financial director, Blou Leask, equiped the team with strategies on tracking our inflows and outflows by helping us to understand the recording process. This latter ensures proper financial reporting that helps us to minimise errors and have a clear communication with our partners, funders, and members.
Delegation of Authority
Delegation of Authority
The Board delegates authority to the Executive and Financial Directors for the day-to-day running of the organisation at a National level. They then delegate authority to Branch Directors and BranchCom at a Branch level for certain decisions/activities such as:
– Banking/signatories
– Authorising specific expenses
– Handling incoming cash and cheques
– Access to petty cash
– Checking and authorising accounting records
– Signing legal undertakings (eg Memorandums of Understanding – MoU)
We are now ready to take the bull by its horns and deliver what is due to our learners in financial transparency!
WOZA DAY DAY 3…
Nombu & Nico
Lloyd Lungu