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Finance Manager Report to Donors
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Period Covered: January 1 - December 31, 2022
As required by our donor agreements and CRS’ Grant Reporting Policy, we are pleased to submit this report to our donors, detailing the financial performance of our programs in Bujumbura.
Grant Management
We have ensured that all grants were set up correctly and timely in our financial systems. Revenue recognition transactions were analyzed to ensure:
- Correct currency codes
- Indirect cost recovery rates
- Grant liability accounts were used
Proactive resolution of any irregularities was achieved through regular monitoring and analysis of grant liability balances.
Grant Closure
The timely closure of all expired grants and cost shares was ensured in conjunction with HQ/Finance. This process involved:
- Thorough documentation
- Reconciliation of grant finances
- Ensuring accurate accounting and compliance with donor requirements
Budget Management
We have led the ongoing financial management of grants and related cost-shares through regular communication with program managers, ensuring:
- Budgets are not overspent or significantly under-spent
- Effective use of budget management tools to enhance grant management
- Informed decisions and adjustments to strategies as needed
Commodities and Gifts-in-Kind
We have accurately recorded and stated commodities and Gifts-in-Kind (GIK) in the general ledger, in accordance with CRS’ policies and procedures. Regular review of physical inventory reports and communication of accurate inventory numbers to HQ/Finance were ensured.
Risk Management and Compliance
We have adhered to the Agency’s financial policies and procedures and complied with all donors’ financial requirements. Internal control systems are in place, and we regularly assess and document internal controls annually using the Internal Control Questionnaire (ICQ). We have also ensured:
- Adequate segregation of duties among cash receipt, cash disbursement, bank reconciliation, and Sun Systems maintenance functions
Finance Personnel Management and Overall Capacity Strengthening
We have overseen the recruitment, training, and development of a competent pool of finance staff. Supervision, mentoring, and coaching of finance staff were provided to ensure effective discharge of their responsibilities. Job descriptions for Finance employees are up-to-date, and performance and development plans are in place.
Conclusion
In conclusion, we have successfully managed our grants and finances in accordance with donor requirements and CRS’ policies and procedures. We remain committed to transparency, accountability, and compliance, and look forward to continuing our partnership with our donors.
Contact Information
For any questions or concerns regarding this report, please contact [Name], Finance Manager at [Email Address] or [Phone Number].
Acknowledgement
We acknowledge the support of our donors in enabling us to carry out these programs. We are grateful for their trust and confidence in our organization.
Signed,
[Your Name] Finance Manager