F & A Idrc Willy Reyes
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Finance and Administration - Presentation by Willy Reyes

Finance and Administration - Presentation by Willy Reyes

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F & A Idrc Willy Reyes Presentation Transcript

  • 1. Project Finance and Administration By Wilfredo A Reyes
  • 2. Organization and Coordination
    • Finance Officer’s Role in Relation to the Project and Project Staff
    • Team Approach with Regards to Budgeting, Day-to-Day Operations and Financial Reporting
  • 3. Budgeting
    • Concepts – Budget Proposal, Budget Team, Budget Preparation
    • Basic Structure of Project Budgets – RAP, CAP, Equipment, Project Advisor, International Travel
  • 4. Budget Sample
  • 5. Banking
    • Project Bank Account
    • Mode of IDRC Remittance – Telegraphic Transfer or Bank Draft in Foreign Currency
  • 6. Accounts Staffing
    • Who will be assigned to maintain the project’s accounting records and what qualifications are required
  • 7. Project Disbursements
    • Expense approval – by project leader
    • Cheque approval – official signatories; preferably two signatures
  • 8. Project Accounting
    • Accounting System and Procedures – Hiring, Purchase Requisitions, Travel etc
    • Accounting Records – Appropriate Books of Accounts, Supporting Documents
  • 9. Financial Report
    • Uses – Progress Reporting; Budgetary Control
    • Contents – Format, Reporting Period, Actual Expenses
    • Estimated Expenses for the Next Payment Period
    • Implications of Inappropriate and Delayed Reports
  • 10. FR1  
  • 11. FR2
  • 12. FR3
  • 13. FR4
  • 14. FR5
  • 15. IDRC Financial Analysis
    • Approach – Variance Analysis, Cash Position, Observations
    • Results – Payment, Clarifications
  • 16. Budget Revisions
    • Horizontal Transfer
    • Vertical Transfer
    • New Line Items
    • Sources of Fund Transfers
  • 17. Budgetary Changes
    • Year 1 Year 2 Total
    • Salaries – Research Assistant $200 $200 $400
    • Research Expenses –
    • Casual Labour 100 80 180
    • Field Supplies 80 70 150
    • Total $380 $350 $730
    • ----------------------------------------------------------------------------------------------
    • Salaries – Research Assistant $250 $150 $400
    • Research Expenses –
    • Casual Labour 130 50 180
    • Field Supplies 90 60 150
    • Total $470 $260 $730
  • 18. Recipient Contributions
    • Concepts – Not a Must, but Project Proposed will be Given More Weight so that Interest and Commitment to the Research is Shown
    • Release of National and Local Contributions
  • 19. IDRC Payments
    • Payments within the First Year
    • Interim Payments
    • Final Payment
    • Emergency Payment
  • 20. Milestone
  • 21. Milestone notes
  • 22. Payments
    • Initial $50,000
    • Auto 60,000
    • Reports 30,000
    • Auto 40,000
    • Reports 30,000
    • Auto 20,000
    • Final 10,000
    • Total $240,000
    • 1 – 6 $230,000
    • Expenses 235,000
    • Final Payment $ 5,000
  • 23. Foreign Exchange Fluctuations
    • Importance of Local Currency Budget – Basic for Measuring Exchange Difference
    • Exchange Gain – May be Ploughed Back to Project for Reallocation
    • Exchange Loss – Budget Savings Sometimes Provide Cover