Financial Induction

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Financial Induction
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Programme

• Financial Management
• Financial Monitoring

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Financial Records
Financial records should be kept so that you can

• Meet legal and other obligations e.g. Charities
  Acts, Inland Revenue, Customs and Excise,
  Companies Act, Common Law
• Enable your Committee to keep a good control of
  finances
• Meet the contractual obligations of funders.

Good Financial management is essential for the
completion of quarterly returns
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Proper Records to be Kept

• Dedicated Bank Account
• Invoices and Receipts
• Cash Book
• Cheque Journal
• Petty Cash Book
• Inland Revenue deductions cards P11 for employed
  staff/time sheets
• Asset Register
• Quotations

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Cash Book
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Cheque Journal
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Bank ReconciliationorBalancing your Books with
Bank
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Bank Reconciliation
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Budget
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Financial Monitoring/Verification
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The Verification Process
Claim Received By CFNI
Verification
Payment
SEUPB
Payment to Project
Remittance advice to project advising that
payment has been made
Confirmation to CFNI that Payment has been Made
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Grant Income and Expenditure Report

• Page 1 Checklist
• Page 2 Declaration/Signatures
• Page 3 Income and Expenditure
• Page 4 Schedule 1 Disallowed Expenditure
• Page 5 Schedule 2 Other Sources of Funding and
  Apportionment
• Page 6 Schedule 3 Salaries
• Page 7 Schedule 4 Rent
• Page 8 and 9 Notes

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Page 3 (Example)
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Page 4 (Example)
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Page 6 (Example)
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Auditors Report
See Proforma in manual
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Forms Returned to Groups

• Cumulative Sheet
• Quarterly Reconciliation Sheet
• Salary Workings
• Disallowed Expenditure

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Budget Amendments
If for any reason you would like to change your
budget, you must follow these steps

• Consult your CPO at the earliest opportunity to
  outline and justify the amendments you require.
• Send a letter/email to your CPO to confirm your
  request formally in writing. Your CPO will then
  send you a written response confirming whether or
  not the amendment has been authorised.
• If the amendment has been authorised your CPO
  will also send you out an addendum and new budget
  to be signed and returned

NOTE 15 variation is allowed within each
budget heading Changes only considered on a 6
monthly basis
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Financial Induction