Sauti ya Mtoto Foundation(SMF) Finance Department

Sauti ya Mtoto Foundation(SMF) Finance Department is managed using its Finance and Procurement manual which adhere to international Financial Reporting Standard Standards(IFRS). This is the guiding document in all financial and procurement transactions. In line with this is,except for petty cash payment,all payments are done by cheques after normal procedures for requests,reviews,recommendations,approval and payment vouchers have been completed. Sauti ya Mtoto Foundation(SMF) uses agreements,technical assistance contracts,services contracts and purchase orders to aquire goods and services. Bank reconciliation is done monthly and financial reports for internal reflection is done quarterly. Annual Financial statements are prepared each year and audited by independent Auditer.

Account department is managed by three chartered accountants and four assistants with duties to manage and account for funds. Its is our treasured information that since our operation and funds receiving from various parteners,we have alywas managed and maintained our accounts in accordance to the required standards and signed contracts.

The account department maintains a system for recording and submitting all types of financial transactions for the purpose of implimenting projects and running organisation activities. Financial details and transactions are precessed  through computer program where various reports and details are extracted on daily bases for crosschecking,approvals and as part of back-up system to external/hard files. on mothly bases reports are produced,signed and put on files for various uses. Revenue grants from donnors are recorded in the accounting period it is received and expenses recognised when incurred. Grants and donations are recorded separately from operational activities.

In-kind contributions are also recognized through journal adjustments that are supported by appropriate and objective documentation (e.g agreements,formal letters or memos and Memorandum of Understanding).

The organisation maintains zero tolerance for corruption,theft,fraud and dishonesty and is subject to an annual external financial audit.