Customer/Client:  Republican Microfinance Center
Period of realization:  11/02/2013 – 10/04/2013
Country:  Belarus

Project description:

The objective of the Project was to develop the Manual for Control over Subrecipients of Non-commercial Microfinance Organizations’ Funds in Belarus and to develop Methodology and Template Forms for Budgeting and Forecasting Financial Flows of Non-commercial Microfinance Organizations in Belarus that would be in compliance with the legislation of the Republic of Belarus and a number of corresponding instructions of the US Government. The Manual and the Methodology are to be based on the example of Consumers’ Cooperative Society “Centre for Mutual Aid” and Consumers’ Cooperative Society “Republican Microfinance Centre”.

Achievements:

Two manual were developed:

1) Manual for Control over Subrecipients of Non-commercial Microfinance Organizations’ Funds, including the following:

- Methodology of evaluation of subrecipients’ activity aimed at analyses of their capacity to manage funds received;

- decision-making mechanisms;

- mechanisms for monitoring subrecipients’ activity and usage of the funds received;

- subrecipients’ auditing procedures;

- procedures for recovery of the funds in case of improper usage of the funds by subrecipient, etc.

2) Methodology and Template Forms for Budgeting and Forecasting Financial Flows for Non-commercial Microfinance Organizations, including:

- Budgeting principles and procedures, including development of budgets and budget lines in compliance with Belarusian legislation and terms for issuing grants of the US Government;

- mechanisms of control to prevent budget overruns;

- principles of costs allocation and costs accounting;

- template forms for short-term, mid-term and long-term plans, etc.

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