SAMPLE POLICY WORK

Audit Trails and Reconciliation • Purpose: To maintain complete audit trails that help track every financial transaction and ensure that any discrepancies are promptly identified and rectified.

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Policy Guidelines:

– Every financial transaction, adjustment, and report revision is electronically recorded with time ‑ stamps and user credentials. – Monthly reconciliation procedures verify that all transactions recorded match the actual bank records and invoice data. • Documentation: – Audit trails are retained for a minimum of seven years and are accessible for internal and external audits. – Regular reconciliation reports and discrepancy correction logs are maintained as part of the financial records. d. Roles and Responsibilities for Budgeting and Financial Reporting A clearly defined organizational framework supports financial integrity and accountability: Lead the budget development process and consolidate departmental requests. – Generate and review monthly, quarterly, and annual financial reports. – Monitor financial performance, conduct variance analysis, and propose corrective actions as necessary. • Key Actions: – Prepare initial budget templates and support departmental submissions. – Maintain the integrated ERP system and generate automated reports. – Oversee monthly reconciliation procedures and document any deviations. Finance Department • Responsibilities: –

Department Heads and Supervisors • Responsibilities: –

Develop and submit detailed budget requests and expense forecasts for their respective departments. – Monitor service delivery and expenditures to stay within budgetary constraints.