Finance

The finance and administration Department undertake finance and administration activities with its own well established system guided by Accounting and Financial Policy guide, Procurement Manual and other related policy manual. The department is also equipped with the necessary materials and logistics. The financial activities of the organization are managed and controlled at the head office level and its operations are centralized. The financial activities of EMRDA are being handled in compliance with the rules specified under GAAP and new legislation of charities and societies. The financial accounting system of the organization is utilizing double entry with updated Peachtree software program. Financial auditing is undertaken by external Chartered Certified Auditors every year and reports within the first three months after the end of fiscal year. EMRDA’s financial performance was audited till 2015 (starting from 1995) on annual bases for 21 times and it has proved to have none qualified opinion in its transaction.

Compliance Audit is undertaken based on the donor’s interest and the audit times can be set monthly, quarterly, bi-annually and annually accordingly.

EMRDA 21 Year Financial Performance Based On Annual Audit Report

In the year 2015 out of 23,141,944.11 Birr annual budget about 20,555,829.70 Birr which accounts about 89 percent were recorded as program expenditure. For the year under plan, about 24,151,769 Birr is budgeted to run the project and administration activity of the organization. Of this, approximately 20 percent of the budget is allocated for HR and administration cost.