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JSDF : TSUNAMI RELIEF PROGRAM Financial Management

JSDF : TSUNAMI RELIEF PROGRAM Financial Management. Bank Financial Management.

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JSDF : TSUNAMI RELIEF PROGRAM Financial Management

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  1. JSDF : TSUNAMI RELIEF PROGRAM Financial Management

  2. Bank Financial Management • Financial management is a process which brings together planning, budgeting, accounting, financial reporting, internal control, auditing, procurement, disbursement and the physical performance of the project with the aim of managing project resources properly and achieving the project's development objectives.

  3. Features

  4. Trust Fund Execution Agency Role ( Recipient Executed) Implementing and Managing the use of trust funds in conformity with the agreed guidelines and procedures as stipulated in the grant agreement. Partner Role (Bank Executed): Assist the Bank as a consultant/partner to carry out activities according to the TOR and partnership agreement Bank Role: Supervising trust fund administration, assuring quality of TF activities, and objective of the grant.

  5. Roles-Implementation Implementing and managing the use of trust funds. • Managing the agreed activities • Managing the procurement processes • Managing the use of funds • Quality control Upon completion:prepare and furnish a report on the results and impact of the activities.

  6. Roles-Supervision Review and approve proposal, check output and outcome • Agree the proposed selection process and method of procurement ( for certain contract requiring prior Bank review/approval) • FM Role – ensure appropriate uses of fund; review approving criteria, subproject costing, supporting documents and physical existence against cost.

  7. Disbursement Requirements JSDF 1 – WBOB- PA – Fees and Sub-grants as a Bank consultant WORLD BANK JSDF 2 – Manila–GA - Special Accounts/ advance/ replenishment (WB Disbursement Guidelines/ handbook/ letter) Sub grants – Follow Operating Guidelines / Manuals PDA, LDI, CCT, WVFT to brief the STATUS NGO EA NGO Partners JSDF 1 : Fees as a management income against milestones Consultants, training and workshop against reports JSDF 2 : OPC- internal financial controls procedures Statement of Expenditure (SOE) Maintain separate bank account Maintain separate records and documentation SUB PROJECT FUND CONTRACTS/SUPPLIERS/BENEFICIARIES

  8. Grant Allocation

  9. Bank Financial Management Requirements

  10. FM Requirements-Sub grants

  11. Operating Guidelines

  12. FM Issues at Subproject level • Inactive committee members • Misuse of fund by chairman and committee members • Cash Transfer - Beneficiaries did not receive funds, receive but not at full amount • Deficiencies in records and documentation • Fake receipts and forged signatures • Revenue collection management

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