WACDEP Financial Management
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WACDEP Financial Management

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WACDEP Financial Management WACDEP Financial Management Presentation Transcript

  • GWP Regional Days Meeting WACDEP Financial management and Budgets Port of Spain 24 June, 2014 1
  • WACDEP Financial Management • Finances integrated within Core as far as possible • Indicative budgets from project document • Actual budgets approved annually • Subject to donor funding • Quarterly expenditure reporting • Quarterly & annual forecasts – realistic please! • Quarterly WACDEP progress reports • Quarterly budget reallocations 2
  • WACDEP RWP/CWP Project Budgets 2013 Budget to Actual 68% Spent 32% Unspent 2014 Q1 Budget to Actual Q1 Spent 8% 2014 Remaining Budget 92% 3
  • 2014 WACDEP Financial Update • 2014 Q1 actual expenditures 8% of annual budget • 2014 Q2 forecast expenditures 30% of annual budget • 2014 Q3 budget adjustment based on the actual Q2 expenditures and the progress update sheet • Carry over to 2015 NOT possible 4
  • Budget Allocations 2015 Reminder • Budget allocations yet to be determined for projects • RWP WACDEP: (i) Africa regions: proceed according to plans; (ii) Other regions: Phase I ends 03/15 – Plan for Phase II 01/15-12/16 using existing project documents. 5
  • Budget Process 2015 Reminder Starting asap  drafting 15 Sept – 15 Oct  finalised with support of NOs 15 Oct  sent to GWPO 15 Oct – 31 Oct  compiled for the SC incl Secretariat budget approval by the CWP/RWP SC 1 Nov  sent to GWPO SC 25 Nov  approval (?!) by GWPO SC 6
  • CWP Operational Arrangements • Work Package 8: “Countries establish project management systems for efficient programme development, management and implementation…to enhance fundraising of programmes promoting water security and climate resilience” • Includes the collaboration between the RWP & CWP & Hosts to build the capacity of the CWP to manage funds • Formalised by a contractual agreement with the RWP 7
  • CWP Agreement • Formal agreement between the RWP Host and the CWP Host (unless self-hosted) • Details include that GWP Financial Guidelines apply, an annual audit for transfers exceeding €10K, quarterly reporting deadlines, host fees etc.) • RWP visits to the CWP Host are appropriate to build capacity, improve collaboration, and manage risks • RWP to build a “funding ramp” via transfers to the CWP, in line with demonstrated capacity, after conducting an initial internal controls and risk assessment audit 8
  • CWP Funding Ramp 9 Transfers to CWP € 30K 3 10K 2 5K 1 Transfer number
  • THANK YOU! 10