IDS maintains a stable and resilient financial structure which has been achievable through the application of stringent principles and accountability across all project activities by our senior management team and finance department. IDS’s financially stable with functional accounts with Zenith and Access Bank. And will leverage its robust business relationship with its Bankers to mobilize the financial resources that will be required to commence the implementation of the activity without hitches pending the release of funds from partners. IDS maintains financial records with supporting documentation using an accounting system (Quick Book Software) that is in accordance with Nigerian and internationally acceptable accounting principles. Pertinent programs recorded are maintained and available for examination by independent auditors, donor partners and other authorized agencies and stakeholders open request on a yearly basis. The annual audit report includes independent auditors who have verified IDS’s ability to comply with both International and Federal Government regulations and maintain internal controls. IDS also maintain a very high standard of procurement and logistics procedures in line with the organizational procurement and logistic policy.
FINANCIAL PLANNING
IDS Financial Manager shall regularly undertake financial forecasts on how much funds the organization will need to maintain positive cash flow and allocate funds to ensure timely activity implementation and cope with unexpected events.
BUDGETING
The Financial Manager shall allocate the available funds to meet both direct and indirect costs, such as field activity expenses, rents, salaries, NFIs procurement, employee T&E, and other obligations.
INTERNAL CONTROL
In IDS, the internal and external control system and the control environment are integral parts of the overall process of managing operations. Countering fraud and corruption is a key part of the internal control system and is used for effective inspections and investigations in the organization when required. With IDS having a zero-tolerance policy toward fraud, bribery, corrupt practices, and theft, IDS is committed to preventing fraud and corruption through its structured learning and development Programme. The organization’s policy on corruption and fraud provides significant learning and development opportunities on the risk of fraud and corruption.
BANK AND CASH MANAGEMENT
IDS shall adopt both cheque and transfer payment methods in its payment system, and bank transfer methods shall be used when considered as the best and most effective based on certain considerations as relates to the payment in question. A letter authorizing the bank can carry out a fund transfer shall be raised, signed, and stamped/sealed with the organization seal by authorizing the bank to affect such transfer. And the acknowledged duplicate copy shall be filed for reference purposes. Additionally, bank reconciliations shall be performed every month by the Finance Officer (FO). The bank reconciliation statement is to reconcile the month-end balance per the bank book to the bank statement when it is received.
AUTHORIZED BANK SIGNATORIES AND MANDATE
IDS shall maintain dual or more signatories on its bank account and project activities. The designated signatories shall be the Executive Director, the Operation Manager, the Head of Programmes, etc. Depending on the requirement of the funders or donor/partner. IDS shall maintain different bank accounts for different projects to promote accountability. Tight security over the checkbooks will be maintained and unused books kept in a locked safe under the responsibility of the Financial Manager, and the cheques shall be used in sequential order, and voided ones kept for future reference.
PROCEDURES
The Financial Manager shall adhere to the financial policy of the organization which sets the procedures regarding how the finance team will process and distribute financial data, like invoices, payments, and reports, with security and accuracy.
TRANSPARENCY
IDS will provide accessible and timely information to affected populations on organizational procedures, structures, and processes that affect them to ensure that they can make informed decisions and choices.
FEEDBACK AND COMPLAINTS
IDS will actively seek the views of people we serve and the affected populations to review policies and practices in programming, ensuring that feedback and complaints mechanisms are streamlined, appropriate, and robust enough to deal with complaints about breaches of policy and stakeholder dissatisfaction. Specific issues raised by affected individuals regarding violations and/or physical abuse that may have human rights and legal, psychological, or other implications will not only be documented but also acted on.
IDS’S CAPACITY (INCLUDING RESOURCES AND STAFF) TO CARRY OUT THE PROJECT
Intercommunity Development Social Organizations (IDS) have strong capacities in project designing, implementation, MEAL, and sustainability working in-partnerships with local, national, and international development partners including the United Nations (UN) agencies. IDS management team comprises distinguished and practicing experts, acknowledged authorities, seasonal, tested and vastly experienced professionals and technocrats in diverse fields of human, project, and organizational resources development, with in-depth knowledge, skills and experience in Humanitarian, Sustainable development and Disaster Risk Reduction (DRR) using different approaches and methodologies. IDS have two(2) project operational vehicles (Hilux Vans), highly skilled and experienced staff with relevant academic qualifications that coordinate the organizational activities at the field level (32 full-time staff (15 Male and 17 Female) and 55 part-time and volunteer staff) (27 Male and 28 Female) At the field level IDS have an existing partnership with States Ministry of Agriculture, FADAMA III, State Emergency Management Agency (SEMA), Ministry of Health, State Primary Health Care Agencies (SPHCA) and LGA Authorities. IDS utilizes their facilities such as Guest Houses, Store/Storage facilities and extension workers to fast-track organizational operations. IDS also have standard office, information, and communication technology equipment including (2) site light phones, 10 laptop computers, 10 tablets, 3 photocopier machines, 3 printers, GSM telephone sets and security gadgets including 10 workie talkies radios. 4 vehicle search mirrors, 2 search metal detector Garrett and other operational equipment at Maiduguri Operational Office, Abuja Head Office and Makurdi Field Offices.
MEMBERSHIP OF HUMANITARIAN WORKING GROUPS AND CLUSTERS
IDS is a member of the Food Security Sector (FSS), Education in Emergency (EIE) working group, Early Recovery and Livelihood (ER&L), Protection Sector, Child Protection Sub-Sector, Gender Violence Sub-Sector (GBVSS) and other clusters/humanitarian coordination mechanisms at the national and northeast regional level with active participation and submission of the monthly 5W Matrix, IDS is strategically positioned to utilize the skills, resources, and opportunities at the cluster level for effective project implementation and sustainability.