Fund Receipt
Sources of Funds
Sisu Vikas Samiti receives funds from the following sources:
i. We are yet to have Foreign Funds.
ii. Membership fees.
iii. Income from short term professional services and consultancy assignments undertaken by Sisu Vikas Samiti.
iv. Grants Donations received from philanthropic organizations and individuals.
Sivu Vikas Samiti’s Core Fund
The following are identified as Sisu Vikas Samiti’s core programme:
A. Sisu Vikas Samiti’s administrative expenses (house rent, utilities, administrative officer, and peon).
B. Sisu Vikas Samiti’s Income Generation Programme.
Any programme coming to Sisu Vikas Samiti must allocate some funds to support this core programme.
Signatories to Cheque Books
The President and Secretary of Sisu Vikas Samiti will be signatory to Sisu Vikas Samiti’s cheques. Money can be released by the signatures of two signatories.
Types of Accounts
The following three types of accounts will be maintained by Sisu Vikas Samiti
(1) Central Account
All income accrued to Sisu Vikas Samiti will be deposited in the Central Account. The President and Secretary are authorized to operate the bank account. Two signatures of both these officials will be required for fund disbursement.
(2) Savings Account
Sisu Vikas Samiti will keep fixed deposit savings account for its trust fund for Land and Building Purposes.
(3) Petty Cash Fund
A petty cash fund of Rs 5,000 is kept to cover payments not exceeding Rs 5000.. The Accountant/Office Administrator will handle this account and is to be liquidated every two weeks.
The Secretary and/or Treasurer will ensure proper handling of petty cash fund through surprise checks from time to time.
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