ISODEC moves to bolster its financial management structures    

The Executive Director and Staff Members of the Integrated Social Development Center (ISODEC) on Monday, September 16, 2024, discussed its draft Financial Management Manual which is meant to guide the monetary control systems of the organization.

The Manual seeks to provide a structured approach to financial decision-making, while enabling ISODEC to make informed, data-driven decisions that align with its strategic objectives.

Titled, ‘Financial Management Policies and Procedures Manual for ISODEC 2024‘, the Manual was developed and completed after weeks of exhaustive works by staff of the organization with in-depth knowledge on issues relative to financial management.

The 22- page document establishes clear guidelines by offering a comprehensive framework for financial management and outlining rules and regulations that govern financial transactions, decision-making and control in the organization.

The discussions took place at the ISODEC Head Office in Accra. Other staff  members in the northern part of the country joined the discussion via Zoom.

The document  has 13  Sections with  headings including, Background, Background and Structure of Finance Department, Financial Policies, Budgeting And Planning , Cash And Bank, Income

 Expenditure, Fixed Assets, Reporting Book keeping Audit,Monitoring,Evaluation,and Learning as well as Appendix.

The  Executive Director of ISODEC,Mr Sam Salifu Danse stressed  the  need to promote accountability in ISODEC through well-defined policies and procedures that  reduces unnecessary approvals and  ensuring that financial  resources  are utilised for their intended activities.          

Mr Danse noted  that the Manual would play a crucial role by helping ISODEC to establish and maintain effective internal controls and ensuring that financial transactions are properly authorized, recorded, and reported.

 By: Mohammed Suleman