The members of WHO board Discuss monthly the Financial situation.
- Monthly reonciliation. All withdrawals and expenditure are recorded and discussed with the board. Then will be recorded in the minutes of the monthly meetings.
The proposed budged to each project discussed with the board and the accountant before submitting it and after donor’
s approval.
Each project’
s budget is discussed with the coordinators. Then the coordinators discussed it with the staff.
In case we have unexpected expenses in excess 200 U.S. Dollars, approval from the board committee is required.
The general director has the right to pay for any unexpected expenses not exceeding 200 U.S dollars. At the board meeting following the expenditure the director will inform the members of the board of the expenditure and the reason for it.
Purchases are made after two staff members have looked in at least two shops. We require written quotations for any single purchase, which exceeds 500 US dollars.
- Our policy quid lines on purchasing any items are:
We prefer to buy items from Palestinian’
s shops or shops who support Palestine and Palestinians.
We always judge value for money.
Shops who give us special reductions and offers, also provide good services.
We have a policy for preferred suppliers for day-to-day expenses. These suppliers are monitored for:
Good and quick services.
Good value for money.
Special reductions and offers.
All asset are recorded. Any damage should be recorded and inform the director.
The project coordinator is responsible for daily purchases. The coordinator is aware of the detailed budget.
The accountant meet weekly the coordinators to collect the pills and record them in the general ledger.
All accounts are kept in the general ledger. Accounts for each program are maintained using information from the general ledger. This facilitates auditing by each individual donor.
The budget is recorded in each project account book, as well as the expenditure.
The budget for each program is monitored to ensure overspending or shortfall of funds doesn’
t occur.
The accountant control and supervise all expenditure against the proposed budget. Immediately will inform the director if there is any problem.
All financial records are kept in WHO office.
An independent auditor audits all accounts.
The bank account is under the name of WHO.
WHO’
s bank account is in U.S dollars.
Two persons out of the three authorized signatories have the right to sign for withdrawals and deposits.
- Donors are informed when we receive the fund by sending them the bank receipt.
