This Finance and Accounts Policy outlines the principles, guidelines, and procedures that govern financial management and accounting practices within Kalapuri. It aims to ensure transparency, accuracy, accountability, and compliance with relevant financial regulations.

The primary objectives of this Finance and Accounts Policy are to:

a. Ensure accurate and transparent recording of financial transactions.

b. Safeguard the organization’s assets and resources.

c. Provide timely and reliable financial information for decision-making.

d. Comply with all applicable financial regulations and laws.

e. Support the overall financial health and sustainability of Kalapuri.

Kalapuri’s financial management activities will be guided by the following principles:

a. Transparency: All financial transactions and records shall be transparent and open to scrutiny.

b. Accuracy: Financial records, reports, and statements must be accurate, complete, and up-to-date.

c. Internal Control: Effective internal controls will be established to prevent fraud, misappropriation, and errors.

d. Compliance: All financial activities will adhere to relevant laws, regulations, and accounting standards.

e. Accountability: Clear lines of responsibility and accountability will be established for financial tasks.

f. Risk Management: Financial risks will be identified, assessed, and mitigated through appropriate measures.

g. Consistency: Financial practices will be consistent to ensure reliable reporting and decision-making.

a. Kalapuri will prepare annual budgets that align with strategic goals and operational plans.

b. Budgets will be reviewed and approved by relevant stakeholders before implementation.

c. Variances between actual expenses and budgeted amounts will be analyzed and addressed.

a. Regular financial reports will be prepared and distributed to relevant stakeholders.

b. Financial statements will be prepared in accordance with applicable accounting standards.

c. Reports will include income statements, balance sheets, cash flow statements, and any other relevant financial data.

a. Effective cash management practices will be employed to ensure sufficient liquidity.

b. Bank accounts will be reconciled regularly to identify discrepancies and errors.

a. Procurement activities will adhere to the organization’s Procurement Policy.

b. Payments to suppliers and vendors will be processed promptly and accurately.

c. Payments will be supported by proper documentation and approval processes.

a. All revenue sources will be accurately recorded and tracked.

b. Invoicing and billing processes will be transparent and timely.

a. Fixed assets will be properly recorded, tracked, and periodically evaluated for impairment.

b. Policies for the disposal and write-off of assets will be established.

a. Regular internal audits will be conducted to ensure compliance with policies and procedures.

b. External audits will be conducted by independent auditors as required by law.

a. Financial information will be treated as confidential and shared only with authorized personnel.

b. Appropriate security measures will be in place to protect financial data.

This Finance and Accounts Policy will be reviewed periodically to ensure its effectiveness and relevance. Feedback from stakeholders will be considered for continuous improvement.

The Finance and Accounts Policy of Kalapuri aims to establish a solid framework for transparent, accurate, and compliant financial management practices. Adherence to this policy will contribute to the organization’s financial sustainability and its ability to make informed decisions.

Policy owner Kalapuri Foundation [kalapurifoundation@gmail.com]

Policy effective date April 01, 2023

Date of last policy update April 01, 2023

Approved by Shridhar Vaidya, Atish Chavan.