The purpose of this financial policy is to establish guidelines for the Board of Directors and management team including staff about standards and procedures to be applied when developing financial goals and objectives, making financial decisions and reporting the financial status of the TRIPLE-F organisation. In addition, these policies will provide guidelines to allow for an effective management of the organisation’s funds. TRIPLE-F’s financial statements shall be prepared on the accrual basis in accordance with Generally Accepted Accounting Principles of the Republic of Indonesia, and more specifically in accordance with standards of accounting and reporting established for non-profit organisations. The presentation of the financial statements shall follow the recommendation of the financial accounting standards, “Financial Statements of Not-For-Profit Organizations” (ISAK No. 35). Financial Responsibilities & Operations the Board of Directors oversees the general financial administration of the TRIPLE-F and relies on the Executive Director and Management team for the day to day operations and financial decisions. The Board delegates this oversight responsibility to the Treasurer of the Board and the Finance management committee of which the Treasurer is Chairwoman. This responsibility is shared through delegation with the Executive Director of TRIPLE-F and the Management and Manager. The financial situation of TRIPLE-F will be reviewed on a monthly basis, with the focus on the budget, receipts and expenditures. The Financial Manager shall be responsible for ensuring that financial control is in place while both of them shall be responsible in regard to following financial issues:
- Financial Management
- Payroll Management
- Office & Administration Management
- Budgets and Management Reporting
- Management reporting to Executive Director and Audit
- Cash flow management processes
- Manage processes to record & reconcile expenses and provide regular monthly reporting
- Expenditures remain within the budget
- Expenditures are only for the purposes set out in the budget
- Financial documentation, including quotations, invoices and receipts are collected and filed in an orderly manner