PRESENTATION BY CHILDFUND SIERRA LEONE GRANT FINANCE

OFFICER

• Application of basic procurement procedures• Application of basic internal control system

and procedures• Accuracy of financial reports/liquidations

(individual vouchers and total reports)• Authenticity/validation of financial

liquidations/reports • Required reports

1. Application of basic procurement procedures

Availability of approved procurement request from appropriate personnel e.g. project officer/field staff

Availability of three proforma invoices Analysis of the proforma invoices Existence of procurement committee Existence of an approved payment vouchers

Application of basic procurement procedures (ctd.)

Existence of invoice, delivery note, goods receipt note/store request and issue forms (where applicable), receipts (stamped with supplier’s name, address & contact # on it).

Segregation of duties & personnel especially in financial transactions Who requested for the fund who prepared the voucher who reviewed/approved and who received the fund.

Cash Handling Are payments to suppliers done by cash or cheque

(how often). Are they done in the supplier’s name or as CASH Are cheques written crossed or open Are copies of cheques available/attached to

payment vouchers How much of cash are handled by field staff(all these are based on the available reports)

This involves checking the vouchers individually for its accuracy (i.e. attached receipts/invoices against what is reported

Also totals of all vouchers against total reported

Are receipts signed, stamped with names & addresses of vendors on it

Are vouchers approved by appropriate authorities

Are vouchers signed by recipients/vendors Existence of signed attendance lists and

payment vouchers (where applicable) for meetings/trainings

Cash Book/Ledger Accounts Summary of Receipts &

Payments Bank Reconciliation Report for

the period Bank Statement for the period

Application of basic procurement procedures:

This is still a big challenge though some SSRs are complying especially with the nutritional supplies area. But we need to do more as complying with the 3-proforma rules is just one aspect. Many SSR have no formal procurement/program request form, no formal form for staff per diem etc.

Application of Basic Internal Control Procedures

Cash handling is an issue here. Third party transactions payments are

often done through staff. Most SSRs almost all payments are made

to staff and not vendors. We do minimize bank charges through this practice but the risk involved in the practice far exceeds the gains (cash savings).

Authenticity/validation of financial liquidations/reports

There are some improvements in the area of attendance list & payment voucher availability, but we still have big problem with: validations of receipts. Availability of approved request Availability of receipt without vendor vivid identity

and stamped Availability of internally generated receipts with

institution’s logo/name dubbed “Devised Receipt”.

Some SSR dished out start up capital grant to various individual at non-uniform amount.

Payment of facilitation fee without standard Going into agreement with third parties on

individual basis without reference to the institution. Eg. Acquisition of land/properties with Global Fund project money without referring to the institution he represents as if he is acquiring the asset for her/himself.

QUESTIONS AND CONCERNS ARE

WELCOME!!!!!