Elements and Performance Criteria
- Establish acquittal records
- Identify transactions and reports relating to project
- Accounting transactions and reports incorporated in group accounts and relating to project are identified for use in acquittal.
- Funds provided by program and the group are identified to develop separate statements of program and group contributions.
- In kind donations of materials, loan of equipment and donation of labour are identified and financial values are estimated for use in acquittal statements.
- Prepare acquittal in required format
- Acquittal is prepared from accounting and other information to program and contract requirements.
- Program funds and expenditure are reported to show use on project and group operations, separately from group contributions to project.
- Group contributions to project are reported to program and contract requirements.
- Report is consolidated for approval and auditing.
- Arrange audit of acquittal and transaction