Article 21 Financial Management

Financial Management

Amended by Act 3 of 2024 PDF

  1. The bank account of the NGO shall be maintained by the members of the board.

    1. The NGO has the right to take money from the general public in the form of donations.
    2. The NGO is permitted to conduct events/ parties in order to generate funds.
    3. The Treasurer and IBM-Finance coordinator has only the right to approve the funds for the activities.

  2. Every month IBM-Finance coordinator has to verify the activity reports and balance sheet and inform the Treasurer.

  3. Every Quarter of the year, the internal compliance coordinator will conduct an audit. Unit Finance coordinator is responsible for sending all reports and balance sheets to the Internal compliance coordinator for every three months.