How are finances managed and controlled?
The managing director manages the operations of the organization. The Board of Trustees had set a maximum ceiling of her authority to disburse. Expenditures above the set ceiling need approval from the Board of Trustees. Check disbursements are signed by any two of the four authorized signatories. Records are handled separately. Checks and balance are regularly practiced. Receipts for all incoming funds, and disbursements and expenditures are separately handled by different persons. Bookkeeping and Records The treasurer does random checks on all records, disbursements, and system used. An outside auditor is maintained, and does the year-end financial reports.
