Director,
T.E.(Terry)
Manning,
Schoener 50,
1771 ED
Wieringerwerf,
The Netherlands.
Tel:
0031-227-604128
Homepage:
http://www.flowman.nl
E-mail:
(nameatendofline)@xs4all.nl : bakensverzet
and
"Money is not
the key that opens the gates of the market but the bolt that bars them"
Gesell, Silvio The
Natural Economic Order
Revised English
edition, Peter Owen,
“Poverty is created scarcity”
Wahu Kaara, point 8 of the Global Call to Action Against Poverty, 58th
annual NGO Conference, United Nations,
The project is based on
separation of powers between the controlling party (the project NGO) “the
parliament” and the executive project coordination group “the government” nominated
by the NGO to execute the project.
Financing parties have two
structures to ensure on-going audits of the project works are carried out.
1. The project NGO fronts
for the project and maintains on-going auditing powers to ensure correct
project execution. It nominates an
auditing commission with 5 (7) members. The statute of the project NGO allows
the financing parties to nominate executive auditors to the auditing
commission. Commission members nominated by the NGO may be paid salaries by the
NGO. Commission members nominated by the financing parties may be paid salaries
by the financing parties. For practical purposes commission members should be
resident in or near the project area. Neither the auditing commission nor NGO
may intervene directly in the execution of the project, as this is the
responsibility of its nominee project coordinator. The auditing commission
answers to the financing parties and to the independent auditor. The auditing
commission has full rights of inspection of all project activities and
documents.
2. An independent auditor
nominated by the project NGO and approved by the financing parties reports
every six months to the financing parties with copy to the project NGO. The
independent auditor also submits a final
audit at the close of the two years’ executive period of the project, and after
each following 12 months’ period. The independent auditor has full rights of
inspection of all project activities and documents, including the activities
and documents of the auditing commission. The independent auditor is paid by
(the external financing party, the project NGO).
3. Project payments.
a) Transfers of funds in Euros from
Euro capital account(s) in the name of the project NGO are made at the
request of the project coordination group for amounts up to € 5.000. Transfers
of amounts between € 5.000 and € 15.000 are made with the co-signature of the
chairman of the board of the project NGO, Transfers in Euros over € 15.000 are
subject to express authorisation of the board of the project NGO.
b) Transfers of funds from Euro
capital account(s) in the name of the project NGO to Kenya Shillings capital
accounts in the name of the project are
made at the request from time to time of the project coordination group with
the co-signature of the chairman of the board of the project NGO.
c) Transfers of funds from the Kenya Shillings capital account(s) in the
name of the project NGO to the executive account(s) in the name of the project
are made at the request from time to time of the project coordination group
with the co-signature of the chairman of the board of the project NGO.
d) Transfers of funds in
To avoid conflict of
interest, neither the members of the project coordination group nor the
independent auditor may be members of
the project NGO. The project coordination group answers through the on-going auditing commission to
the project NGO. The auditing commission answers to the project NGO and the
independent auditor. The independent auditor
answers to the external financing parties with copy of the report to the project NGO.
FROM SECTION 04 : PROJECT
GOALS AND EXPECTED RESULTS
Next file :
04.21
The chain of responsibilities.
Back to:
04.19 Recycling of funds and importation of
items necessary for productivity increase.
FROM SECTION 07 : FINANCIAL
JUSTIFICATION
Next file :
07.03 Detailed results for funding
parties.
Back to:
07.01 Menu of documents for funding
applications.