The session on Treasury was taken by Balaji Sampath. He talked about the various formal procedures related to handling finances and treasury at an individual chapter level as well as at AID-India level. He began the session by talking about various types of donations viz. local fund-raising and international fund-raising, both of which could be with or without a proposal. For each type of funding the AID-India headquarters need to be put in loop, though there are some additional procedures for raising international funds. Balaji emphasized that in spite of the rigid procedures, enough flexibility has been provided for handling funds at chapter level. Each chapter has a chapter fund with AID India. It is the money collected by individual chapters. Each chapter has the right to decide how to use their funds. For example, they can be used for transportation or purchase of material or donating towards a partner NGO or may be for keeping a common kitty.
The funds can also be raised through a formal proposal which is thoroughly reviewed by a central committee before sanctioning. In this case a proper follow-up of the project needs to be done with the committed timelines. All FCRA based donations need to be put in records before the end of each financial year for the taxation purpose. He also pointed out that all individual chapters raising funds must release an annual report, to be used for bringing out a consolidated AID-India annual financial report.
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