BoD basic roles:
Making sure that funds are used to help beneficiaries effectively
Making sure BIDCAF has enough funding
Making sure BIDCAF has effective Senior management
Making sure BIDCAF operates within the law
Making sure BIDCAF board can handle its responsibilities effectively
1. Making sure funds are used to help beneficiaries effectively
Ensuring BIDCAF has practical strategies for analysing and responding to social problems
Monitoring if BIDCAF is actually putting its strategy into practice and achieving value for money
Approving the annual budget for expenditure, based on the cost of relevant activities
Making sure BIDCAF has appropriate internal controls and accounting systems to ensure that funds are used properly.
Regular checking that internal controls are followed in practice (eg carrying out or engaging internal audits)
Taking an active role in internal controls as necessary (eg authorising large payments).
Regularly monitoring financial reports, including the income and expenditure statement and the balance sheet.
Monitoring whether BIDCAF is being accountable to its beneficiaries (eg timely feedback to them and sharing performance reports were applicable)
2. Making sure BIDCAF has enough funding
Approving the income section of the annual budget.
Monitoring the amount of income received.
Actively following BIDCAF sustainable strategy.
Monitoring relationships with project stakeholders (thus, if reports are submitted on time and their respective feedback)
3. Making sure BIDCAF has effective Senior management
Recruiting an all round skilled Executive Director -ED- (or supporting the ED to develop most managerial skills).
Supporting the ED to develop a culture of good financial management (thus Respect money and use it for its intended purpose always
and leading by example to encourage the programme staff to work together.
Making sure that the most senior finance manager is a member of the most senior management team.
Encouraging an open culture that recognises problems and aims to learn from them.
Holding senior managers to account for the results of the decisions that they take and the initiatives they launch.
4. Making sure BIDCAF operates within the law
Understanding and observing most NGO's legal requirements, including Labour laws, Tax laws, child protection and Health Safety legislation.
Making sure BIDCAF management team observes the legal requirements (e.g. paying taxes, filing annual returns reports).
Appointing external auditors and overseeing the audit.
Approving the audited accounts and annual reports.
Filing reports with government departments.
5. Making sure BIDCAF board can handle its responsibilities effectively
Appointing a treasurer, with specific responsibilities for financial management and the skills to carry them out.
Making sure that all board members understand their financial.
management responsibilities and supporting them to develop appropriate
Making sure there are no conflicts of interest between
BIDCAF’s operations and board members' work or business interests.
Making time at board meetings to discuss the financial management aspect of all major decisions.
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