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F & A Idrc Willy Reyes

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Finance and Administration - Presentation by Willy Reyes

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F & A Idrc Willy Reyes

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

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