all funds received from NADEUM or other partners must be used exclusively for project-related purposes as defined in the approved budget and activity plans. Any deviation must be pre-approved in writing by the donor.
Prohibited Uses
Funds shall not be used for personal expenses, political contributions, religious activities (unless explicitly allowed), or any activities not directly related to the project scope.
Transparency and Record Keeping
Monthly reconciliation of bank and cash balances must be conducted.
Accounting records shall be maintained using internationally recognized standards (e.g., IFRS or IPSAS for nonprofits).
All financial transactions must be clearly documented with original receipts, invoices, and appropriate approvals.
Internal Controls and Segregation of Duties
Expenditures above a set threshold shall require dual approval.
Roles must be segregated between those who authorize, process, and record financial data.
No single individual shall have complete control over all aspects of financial transactions.
Regular Financial Reporting
Annual financial reports shall include a statement of financial position, cash flow, and a project impact summary.
A quarterly financial report (income and expenditure) must be submitted to NADEUM and other stakeholders.
Auditing and Monitoring
Findings must be addressed within agreed timelines.
Project coordinators must cooperate fully with internal and external auditors.
Independent audits shall be conducted annually or as requested by the donor.
Anti-Fraud, Anti-Corruption and Whistleblower Protection
An investigation will be conducted promptly, and disciplinary or legal actions will be taken if needed.
Whistleblowers shall be protected from retaliation.
Any suspected misuse, fraud, or financial misconduct must be reported immediately.
Donor and Legal Compliance
all financial activities must comply with donor agreements, national laws of Sierra Leone, and international financial best practices.
Ethical Conduct and Professionalism
All SLTTC team members must operate with the highest standards of ethics, professionalism, and accountability, as outlined by the RPG-A and NADEUM codes of conduct.
