How We Manage Finances
The Child Rights Information and Documentation Centre (CRIDOC) demonstrates exceptional proficiency in managing its finances from various sources, including international donors, foundations, and generous benefactors. The organization employs a meticulous and transparent approach to ensure financial accountability and maintain accurate records.
To effectively manage finances, CRIDOC follows a structured process:
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Donor Relations and Communication: CRIDOC establishes strong relationships with international donors, foundations, and other benefactors. Clear communication channels are maintained to understand their funding priorities and expectations. Regular updates on project progress and financial usage are provided to ensure transparency.
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Budgeting and Financial Planning: Before undertaking any project, CRIDOC develops comprehensive budgets outlining the expected costs and resource allocations. These budgets are formulated in consultation with relevant stakeholders and are aligned with the organization’s strategic goals and donor guidelines.
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Financial Monitoring and Reporting: CRIDOC monitors project expenses and financial activities regularly to track spending against the approved budgets. Financial reports are generated on a predetermined schedule, offering detailed insights into fund utilization. These reports are shared with donors and stakeholders to demonstrate prudent financial management.
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Accurate Record Keeping: Precise and well-organized financial records are a hallmark of CRIDOC’s practices. The organization maintains a secure and up-to-date record-keeping system that tracks incoming funds, expenditures, and other financial transactions. This ensures a transparent audit trail and facilitates the retrieval of information when required.
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Internal Controls and Auditing: CRIDOC has robust internal control mechanisms in place to prevent financial mismanagement and fraud. Regular internal audits are conducted to verify financial records’ accuracy and adherence to established procedures. External audits, performed by reputable auditing firms, add an extra layer of credibility to the organization’s financial practices.
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Compliance and Reporting to Regulatory Authorities: CRIDOC operates in full compliance with local and international financial regulations. The organization ensures that all necessary financial documents, including tax records and legal compliance reports, are submitted to relevant authorities on time.
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Transparency and Accountability: CRIDOC values transparency and accountability as fundamental principles. The organization provides its stakeholders with easy access to financial information, allowing them to make informed decisions about their involvement and support.
2017 and 2018 Financials
While CRIDOC strives to always manage its finances as effectively as possible from international donors, foundations, and benefactors by maintaining a well-structured approach, it must be noted that due to a number of institutional challenges that the organisation has encountered over the past four years, we have not been able to consistently produce financials on a yearly basis in the absence of funding. Most of these challenges were particularly influenced by the recent advent of Covid-19 which led to the loss of funding and lost of some of our strategic team members.
The situation, unfortunately, led to the closure of our offices for a period of time before we could reopen and resume our operations in 2022, even without funding still.
As a result, the last financials we have on our record date back to 2017 and 2018, and can be downloaded on this page below.