Financial System

Financial control is generally exercised at three levels: the Governing Body, the Head Office, and the respective Branch. Governing Body monitors all financial matters quarterly through Governing Body meeting. The Chief Executive exercise financial control based on monthly financial statements and the findings of internal auditors. At branch level, the managers exercise financial control on the basis of budget and financial projections.

Financial transactions in the head office and branch offices are regulated with regard to the following three areas:

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.

Super Efficient

Deeply Commited

Highly Skilled