Financial system

a.Ours Auditor Mr.S.Sankar B.Sc., FCA

Separate account is maintained to specified programme / fund. Bank accounts are operated by Joint signatures of Chairman and financial director. Financial Director is maintaining all accounts of the organisation. At the programme level the director with the accountant, is maintaining the all accounts. Cheque transaction is followed in all of the payments against vouchers / bills settled by concern persons when the payment is not less than Rs 1000 and in some cases only cash payment is done against the vouchers / bills when only unexpected time / urgent time. TA ceiling is fixed that will be one percentage. Staff is appointed with the limitation of salary. Traveling system / mode is allowed only with limitation that staff salary should be within Staff should be appointed within the target people and belonging to target areas. Administrative cost of each programme should be less than 20 percentages in action based programme and fifteen percentages in empowerment programme. Fund for religious activities are neither applied nor received from anywhere and in all kinds. Further we request fund / partnership from organizations, which are having / matching the objectives of ROSI Foundation atleast by few. Our Financial year is 1st April to 31st March and in the period all our accounts are consolidated and then audited by our auditors after the end of 31st March. Report to all programmes / projects will be sent along with the utlisation / audited reports to concern people.