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Equity management

Project base accounting

  • Every individual project whether funded by a single donor or more than one donor as a consortium or otherwise are treated as a separate project.
  • The assets, liabilities, income and expenditure with respect to every project are distinctly and separately accounted.
  • The bank and cash books and balances are project based.
  • The books of account with respect to every project include the:
    1. Fixed assets acquired with those projects advances from/to other projects
    2. Bank and cash balance of that project whether included in a combined bank account or cash balance
    3. Other assets and liabilities of the project
    4. Income and expenditure of the project
    5. Un-utilized balance of that project
  • The advances from/to other projects (if unavoidable) must be settled immediately on receipt of grants/inflow in either project.
  • All reports should be separate for every project.
  • The consolidated annual accounts comprising the various project accounts should be consolidated automatically by the accounting software to:
    1. Display and print the combined cash and bank books for reconciliations
    2. A separate set of final accounts comprising the statement of revenue and expenditure and balance sheet should be prepared and audited for every project.
  • The audited project based accounts should be sent to the respective donors.
  • The figures in the utilization certificates to the donors should be drawn from the audited project based accounts only.
  • As far as possible, all project-wise reports including the statement of revenue and expenditure, balance sheet and utilization certificates should be automatically generated by the accounting software on specifically designed sheets/form financial powers for various expenses as approved by Board of Stichting Unleashed Potential Group

Approving Authority – Nature of Expenditure

Board of Directors:  Movable Assets, Immovable Assets, All Payments

Stichting Unleashed Potential Group has a Ethical & Business Conduct Code to ensure that everybody within the organization maintain a high standard of integrity.