Budget Formulation and Variance Analysis
The initial budget planning starts at the branch level. A yearly budget is split into monthly figures spelling out financial and program targets. All branch budgets are consolidated in the head office to formulate the organization’s aggregate budget. Financial monitoring is carried out monthly based on budget variance, MIS, and FIS reports.
Income Tax Return Submission
Submission of income tax returns is mandatory under government rules. The organization has been regularly submitting the returns to the government.