Organization for Development Rehabilitation and Health
Financial Operations Overview
The Finance Department of the Organization for Development, Rehabilitation, and Health (ODRH) plays an essential role in the effective management of financial resources, directly supporting the organization’s mission and strategic objectives. This department is charged with responsibilities that include budgeting, financial planning, reporting, and compliance, in addition to maintaining robust financial management systems designed to uphold accountability and transparency.
At ODRH, governance of financial resources is prioritized as a critical element for fulfilling our mission and for preserving trust with our donors and stakeholders. The Finance Department is dedicated to maintaining high financial integrity and transparency standards
Budgeting and Planning:
The department is responsible for the development and management of the annual budget, ensuring alignment with ODRH’s strategic objectives. Furthermore, we utilize forecasting tools to project future financial performance and resource requirements.
Reporting:
Timely financial reports are generated for both internal stakeholders, including management and the board, as well as external stakeholders, such as donors and regulatory bodies. These reports must be clear, concise, and compliant with established financial reporting standards.
Financial Control:
Internal controls are established to safeguard assets, ensure accuracy in financial reporting, and prevent fraud. Regular audits, both internal and external, are conducted to assess compliance and operational efficiency.
Accountability & Transparency
ODRH is dedicated to upholding transparency and accountability in all financial transactions. We firmly believe that these principles are essential to building and maintaining trust with our stakeholders.
Transparent Financial Practices:
We strive to make financial information accessible to stakeholders through regular updates and public disclosures. The establishment of a whistleblower policy facilitates the reporting of unethical practices without fear of retribution.
Performance Measurement:
Key performance indicators (KPIs) are implemented to evaluate financial health and operational efficiency, encompassing metrics such as cost per project, revenue growth, and return on investment.
Stakeholder Engagement:
The Finance Department encourages stakeholder involvement in the budgeting process to enhance ownership and accountability. Continuous feedback is solicited from beneficiaries and donors regarding financial practices and reporting, and maintaining open lines of communication with stakeholders regarding financial activities and decisions is paramount. Annual stakeholder meetings are conducted to present financial reports, discuss challenges, and gather input.
Accessibility of Information:
An annual financial report is published, detailing income, expenditures, and funding sources, and made accessible on ODRH’s website and through other communication channels. Additionally, an online portal is utilized to allow stakeholders real-time access to financial data and reports.
Compliance and Ethics:
Adherence to all legal and regulatory requirements related to financial reporting and donor agreements is essential. ODRH fosters a culture of ethical financial management through training on best practices and compliance for all staff members.