Aims | Objectives:
The duty of the finance department in SALMAT 25 is to provide accountability and transparency regarding the funds within the organisation, provide regular reports detailing income & expenses, supporting any external audits carried out and suggest fundraising events to raise awareness of the organisation.
Finance projects
Community fundraising project – members of SALMAT 25 offer their time to local residents within a community to help out with any request for help. Donations given through this project are transferred into the SALMAT 25 bank account for future projects.
Direct debit donations – some members have been able to set up direct debits to improve ease with transferring regular donations.
Paypal account via the website – by incorporating a Paypal account into the website, this is another means by which anyone can donate towards the work of SALMAT 25.
Accountability & transparency
These two values are paramount to the work of the finance department and all those within this department are to abide by these.
The finance department hold quarterly financial meetings to discuss with members the current funds, estimated project costs and proposed budget. The treasurer keeps records of every receipt from transactions and bank statements which can show the cash flow into the bank account. A receipt book is also used when donations are provided in cash to keep accurate records.