Clear assignment of responsibilities ensures accountability and proper financial oversight:
- Board of Directors:
- Approve the annual organizational budget and major expenditures.
- Monitor overall financial performance.
- Ensure compliance with legal obligations and donor requirements.
- Treasurer / Financial Coordinator:
- Maintain accurate and secure financial records.
- Monitor daily, monthly, and annual financial activity.
- Prepare reports for the Board and other stakeholders.
- Ensure all transactions follow established approval procedures and internal controls.
- Staff and Project Managers:
- Submit expense claims, receipts, and invoices promptly.
- Track project-specific expenses against approved budgets.
- Ensure financial documentation is complete, accurate, and submitted through approved channels (e.g., Fillout forms).