In an attempt to diversify our funding base, this agency is committed to seeking out two new funding sources per year.
Money raised through fundraising efforts will be kept in a separate bank account, and be used for the purposes specified by the donors, for certain specified purposes.
Any fundraising activities that involve gambling and/or the sale of alcohol will not be approved by the board.
This agency provides official income tax receipts only for legitimate donations.
A Finance Committee will be appointed at the first board meeting after the AGM, and will consist of the Treasurer, the Executive Director, and one other board member.
All staff and board members will receive a copy of the agency’s Guide to Financial Management which explains how to read and interpret financial terms and statements.
It is the responsibility of the Finance Committee to review the financial policies annually and, if necessary, make recommendations for changes to the board.
It is the policy of this agency to allocate money in every budget to hire a Bookkeeper who will come in on a monthly basis to maintain the books, prepare financial statements and reports and issue cheques.The bookkeeper will report to the Executive Director who is also a member of the Finance Committee.
A training workshop will be offered to all agency staff and board members every two years to enhance awareness and understanding of financial management systems.