<p> Partner Finance Monitoring Checklist</p><p>Partner Name:.……………………………………………………………………………………………………….… </p><p>Project Code/Title: ………………………………………………………………….Budget Total:………………..</p><p>Completed by:……………………………………….………………….. Date:…………………….………………..</p><p>Please refer to assessment list, queries on previously submitted reports and previous monitoring points on issues to follow-up. </p><p>Guide Questions Yes No Remarks 1. Conduct a cash count and bank reconciliation in custody with the cashier.</p><p>1.1. Is there a cash count conduct regularly, at least once a month?</p><p>1.2. Who do the cash count and who do the verifying? </p><p>1.3. Does the total cash balance reconcile with the cash count?</p><p>1.4. Where is the cash kept, is it in a secure place allowing access only to the cashier?</p><p>1.5. Is total cash holding appropriate to the Partner’s operation?</p><p>1.6. Are chequebooks properly locked in the safe?</p><p>1.7. Is the Partner’s bank account in the organisation name? If not, what is the control in place.</p><p>2. Check whether collection is deposited timely. Review file of deposit slips. Trace amount deposited as against what is recorded in the cashier’s Cash Book.</p><p>If partner has a check account:</p><p>2.1. How often do they deposit collection to bank?</p><p>2.2. Compare the deposit slip with cashbook records to see that it is updated timely with correct amount.</p><p>If partner has only cash on hand:</p><p>2.3. Check that receipts are recorded to cashbook timely.</p><p>Page 1 of 6 Guide Questions Yes No Remarks 3. Process map the system of handling and recording cash receipts. Establish what are the books/records maintained by the cashier and the finance officer.</p><p>3.1 Is an official receipt issued for all collections?</p><p>3.2 Are there persons other than the cashier who are allowed to issue an official receipt?</p><p>3.3 Does the cashier maintain a cashbook where receipts and disbursements are recorded?</p><p>4. Review file of official receipts issued. Check numerical sequence, missing official receipts etc.</p><p>4.1 Are the official receipts printed? And pre- numbered? If no, what is the control in place?</p><p>4.2 Are receipts issued in a sequential manner?</p><p>4.3 Are there missing official receipts?</p><p>4.4 Are cancelled, spoiled official receipts stamped ‘Voided’ and filed? </p><p>5. Obtain the existing policy on delegation of authority.</p><p>5.1 Is there any policy on limits of payments by petty cash, cash, and check? Obtain document.</p><p>5.2 Is there any delegation of authority document stating authorisation level for purchase and payment transactions?</p><p>6. Conduct a test of disbursement transactions. On a random basis, select from at least 3-months transactions and vouchers to check documentations and approval on payment.</p><p>6.1 Is a voucher system for payment being implemented?</p><p>6.2 Is there any delegation of authority document stating authorisation level for purchase and payment transactions?</p><p>6.3 Are ‘Petty’ expenditures paid through the </p><p>Page 2 of 6 Petty Cash Fund?</p><p>6.4 Are petty cash vouchers prepared to cover petty expenses?</p><p>6.5 Does the paid petty cash voucher exceed the limit for payment?</p><p>6.6 Are all cash/check vouchers properly approved by the authority as stated in the delegation of authority document?</p><p>6.7 Are the cash/check vouchers pre- numbered?</p><p>6.8 Are cash/check vouchers supported with appropriate supporting documents? (Approval requisition, quotations, supplier’s delivery or invoice, receipt)</p><p>6.9 Do the cash/check vouchers bear the required approval?</p><p>6.10 Are checks ‘crossed’ or made payable to the ‘Payee’ only?</p><p>6.11 Are there supplier’s official receipt to attach every payment vouchers? Has the invoice or receipt been tampered with or amended?</p><p>6.12 Are paid vouchers and supporting documents stamped ‘PAID’?</p><p>6.13 Have we witnessed what has been declared as being built or purchased? If possible, take a look at the goods and make judgment on validity of the amount.</p><p>6.14 Have we met with beneficiaries, who have attended the workshop to confirm the duration and reimbursement cost?</p><p>6.15 During our monitoring visits try to meet with all partner’s staff to verify that they matched with reported expenses. </p><p>7. Test check balances of cash and bankbook, and trace posting to the General Ledger.</p><p>7.1 Are ledger entries properly referenced to the supporting vouchers? </p><p>7.2 Are the balance of the cash and bankbook accurate?</p><p>7.3 Are the account balances posted in the </p><p>Page 3 of 6 General Ledger correctly?</p><p>8. Review financial report: Budget vs. Actual</p><p>8.1 Are the balance from General Ledger posted correctly to financial report?</p><p>8.2 Is the report prepared in accordance with donor’s format and the budget format?</p><p>8.3 Is the Partner funded by more than one donor, if yes, are the requirements of the other donors consistent with XYZ’s? What are the constraints?</p><p>8.4 Is the financial report prepared on a monthly basis and timely?</p><p>8.5 Does the Partner review, analyse variances and take corrective action on the result of the monthly financial report?</p><p>8.6 Are recommendations and feedback from XYZ being implemented or taken into account?</p><p>9. Reporting to XYZ</p><p>9.1 Does the Partner meet the deadlines indicated in the contract?</p><p>9.2 Are reports received before the next transfers are made?</p><p>10. Check the handling of stock and fixed assets?</p><p>10.1 Are assets required to run the project? Do we already have an asset that can adequately perform the desired function?</p><p>10.2 Are there proper identification tags on all the assets? (Check sample or total)</p><p>10.3 Are the assets properly utilized and solely for the project?</p><p>10.4 Are fixed assets e.g. vehicles properly kept in a secured place?</p><p>10.5 Are all assets entered in the fixed assets register with complete information (Acquisition date, identification no., model, serial no., amount, location etc.?</p><p>10.6 Are budget purchased in conformity with budget?</p><p>Page 4 of 6 10.7 Is there a proper chain of accountability for use of assets?</p><p>10.8 Are assets utilized for the sole purpose of the project?</p><p>10.9 Is fuel consumption in line with budget/ expectations? Are frequencies of vehicle breakdowns monitored or vehicles independently checked?</p><p>10.10 Is there an appropriate insurance policy for each vehicle funded by XYZ?</p><p>10.11 Are assets disposal in conformity with the procedure stipulated in the project?</p><p>10.12 Are stocks maintained?</p><p>10.13 Are stocks recorded regularly updated and signed off by a responsible officer?</p><p>11. Float and Loan Registers</p><p>11.1 Are the registers up to date?</p><p>11.2 Are there any large, outstanding floats or loans? If yes, why?</p><p>11.3 Are liquidations being made promptly?</p><p>12. Salary Advance Register</p><p>12.1 Are the registers up to date?</p><p>12.2 Have all advances been deducted from the monthly salaries?</p><p>12.3 Has any member of staff consistently been receiving salary advances?</p><p>13. Existence of competent personnel</p><p>13.1 Is there a finance team of at least one person?</p><p>13.2 Does the finance team have adequate accounting skills?</p><p>14. Proper filing of accounting documents</p><p>14.1 Are accounting/ supporting documents properly filed?</p><p>14.2 Is the filing system consistent?</p><p>Page 5 of 6 14.3 Document easy to retrieve and crosscheck?</p><p>14.4 Are document kept in archives for the time duration specified in the country legislation or contract?</p><p>15. Proper utilisation of fund – Programme Visits (Beneficiaries)</p><p>15.1 Is there a calendar of visits (scheduled or impromptu)?</p><p>15.2 Are field visits being carried out in line with the calendar?</p><p>15.3 Are resources reaching the beneficiaries in line with the project proposal?</p><p>15.4 Purchases made for beneficiaries, are the assets in good condition and with beneficiaries?</p><p>16. Proper utilization of fund – Control of activities and utilization of assets against approved budget.</p><p>16.1 Is there a signed contract with approved budget annexed?</p><p>16.2 Does the financial report match the activity report? If not, why not – can any variances be explained? </p><p>16.3 Is there any overspend for activitiy against budget? If yes, and expenditure continues at the current rate, will there be enough money to complete the project?</p><p>16.4 Are amendments to budget lines preceded by formal demand duly authorised?</p><p>17. Training and support</p><p>17.1 Have the areas of weakness been identified?</p><p>17.2 Have the training and support plan been established and planned?</p><p>17.3 Have the training and support been conducted?</p><p>Page 6 of 6</p>