ARS-Bangladesh follows a systematic procedure and maintains a policy on managing its finances. The financial situation of the organisation is reviewed on a monthly basis, with the focus on the budget, receipts of income and expenditure. Financial management system of ARS-Bangladesh includes the following procedures:
- Financial Planning
- Managing Program Finances
- Managing Cash Flow
- Credit and Collections
- Financial Statements
- Financial Analysis
- Financial Reporting
Monitoring and evaluation :
Progress of the projects and programs are tracked through result-oriented regular monitoring and evaluation. An internal monitoring and evaluation team (M&ET) monitors the outputs and evaluate the outcomes of the projects and programs monthly.
Field level officers follow activity calendars where the deadlines and targets of monthly activities are mentioned. They keep regular records of the activities and compare the records to the activity calendars at the end of the month to spot any deviation regarding the target and the deadline. They also make out the real causes of the deviations. Subsequently, they prepare summary reports on the findings and send these to M&ET for verification.
M&ET analyzes and interprets the summary reports sent by field level staff and verify the findings through distributing evaluation forms, conducting face-to-face interviews and discussing with focus groups. Evaluation forms are distributed among the beneficiaries, among their family members and community people to evaluate the changes in lives of the beneficiaries, changes in their families and changes in community attitude. Face-to-face interviews are conducted with the beneficiaries to determine their actual status and the benefits they obtained. M&ET also conducts discussion with the focus groups to know about their feeling regarding the projects and programs. It obtains some results through the monitoring and evaluation process and eventually drafted evaluation reports based on the results.