This document is an internal policy of YAPA. Use it to help develop your own agency's internal policies. You will have to make changes to suit your own context and any legal requirements which apply to you.
Policy
YAPA is committed to full financial accountability and sound administration of all funding and monies it receives. As part of this commitment, actual performance is monitored against budget and variances analysed and reported. The Variance analysis report is prepared monthly and presented to the Board and Executive Officer by the Finance Manager.
Procedure
- The Finance Manager reviews all individual programs, ensuring a reasonability test is performed for transactions which are out of the ordinary.
- The Finance Manager prepares the analysis report (monthly or as requested) ensuring variances accounted for in the report have been researched and appropriate explanations are included.
- The Finance Manager advises staff members of budget restrictions and presents financial results at staff meetings, outlining any budget variances as required.
- The variance report is analysed in detail by the Finance Manager with the Treasurer and Executive Officer on a monthly basis.
- The Treasurer is responsible for the presentation of the report to the Board on a monthly basis.
- Additional or extraordinary expenditure (not included in the budget), must be approved by the Executive Officer (in the first instance) and then by the Board.
- The Treasurer is responsible for keeping track of how closely the actual figures match budget expectations.
