Ministry of Water, Irrigation and Electricity
Operation and Maintenance Management Manual
Training Module - D
Community Based Financial
Management
DEMEWOZ CONSULTANCY
63
Attachment 1: FINANCIAL CONTROL PLAN
Issue
Action Needed
By Whom
When
Ensuring that monthly
income
and expenditures
tally with money in bank and
petty cash box
Monthly bank
reconciliation
Accountant Chairman of
Financial Sub-Committee
Monthly
Ensuring that all receipts,
vouchers, accounts etc are
being properly kept
Audit
External Auditor Chairman
of Audit Sub-Committee
External audits
- annually
Ensuring that assets
belonging to the project
are properly recorded
Update Asset
Register
Accountant
Counterchecked by
Chairman of Financial
Sub-committee
Quarterly
Ensuring that expenditures
are consistent with approved
budget
Check
expenditures
against approved
budget
Chairman of Audit Sub-
Committee
Monthly or
quarterly
Revenue is consistent
with budget
Reconcile monthly
revenue against
budget
Accountant Chairman of
Financial Sub-Committee
Monthly
Procurement is
following approved
guidelines
Procurement Audit
Procurement
notices placed in
project office and
public places
Chairman of Audit Sub-
Committee
Quarterly
Members/consumers are
informed of project
accounts
The following
documents should
be presented at the
AGM:
Annual budget
Financial Report
Auditor Report
Project Chairman
Annually
Audit queries
are dealt
with properly
Maintain
record of
Audit Queries and
action taken
Accountant Chairman of
Audit Sub-
Committee
Quarterly