St Kitts and Nevis Robotics Association Financial Procedure
OVERVIEW OF ACCOUNTING AND PROCEDURES MANUAL
1.1 Purpose
SKNRA’s continued service depends on its ability to safeguard and manage effectively and efficiently all donor funds (and generated income) entrusted to it. Central to this goal is a sound structure of financial management and control to maintain both integrity and confidence.
This Manual describes the financial policies and procedures for ensuring accountability on effective and efficient use of funds. The procedures are aimed to provide a clear plan of action to implement policy. It will help to eliminate variations in the execution of processes and gives a sense of direction to employees and increase standardization and reduce risks.
Any deviations from adhering to the procedures contained in this Manual by SKNRA staff should be in writing and approved by the Executive Director.
The implementation of this Manual is essential for the successful delivery of SKNRA’s services as we conduct our activities morally, ethically, and in the spirit of public accountability and transparency, and in conformity with applicable laws and regulations and practices common with responsible organizations.
The principles and suggested procedures in the Manual reflect systems currently in operation or being implemented by SKNRA and those expected to be adopted by its sub-partners.
This Manual has been designed to suit specifically the accounting and financial management practices at SKNRA, and the general principles and essential features are applicable to all resources no matter their source.
This Manual is not exhaustive but provides a framework for accounting and financial procedures within the organization. As circumstances and requirements change the manual should be reviewed and updated annually to take into account potential new donor regulations, tax law regulations, as well as new developments in the accountancy profession and changes in the organization.
Very Professional