N2Africa Financial Reporting OCt.2015
ILRI-N2Africa Financial Reporting Training Workshop 16th October 2015 InfoCenter, ILRI Campus, Addis Ababa
- ILRI has emphasized the importance of receiving accurate and timely financial reports (i.e. quarterly) to consolidate, forecast the burn rate, and plan.
- Participants are now well familiarized with ILRI financial reporting format and purpose of each budget lines i.e. Personnel, Travel, Workshops/training/capacity building, Other direct costs, and Indirect Costs.
- All project (with grant amount US$ 25,000 and above) financial reports will be accompanied by a detailed expense (line item) listing in both Excel and PDF signed formats. From the detailed listing ILRI will then select a small sample for partners to provide supporting documents (copies) for verification and archives. Participants are informed to get the project Principal Investigator’s signature or approval whenever the project is charged or cost reallocated to other project(s).
- Learnt that Partners need to improvement their internal communication particularly on status update on projects income receipts.
Introduction to the workshop
N2Africa is a large scale, science-based “research-in-development” project focused on putting nitrogen fixation to work for smallholder farmers growing legume crops in Africa. Its vision of success is to build sustainable, long-term partnerships to enable smallholder farmers to benefit from symbiotic N2-fixation by grain legumes through effective production technologies (including improved seeds, inoculants and fertilizers) and market linkage in the legume value chains.
Financial Management has to be done accurately and record keeping cannot be allowed to fall behind, or it will achieve nothing. It must be done with honesty and transparency, for the benefit of all. Understanding of the requirements of ILRI financial reporting standards are important for the sub-grantees of ILRI-N2Africa finance staffs involved in preparation and reporting of financial statements. Heads of finance, reporting accountants, and other finance staffs should familiarize themselves with the requirements of that are compliant with ILRI.
Objective of the workshop
- To familiarize the ILRI-N2Africa sub-grantees to the requirements of financial reporting and managements by providing accurate information and a simple financial management system for the proper implementation of N2Africa institutionalization missions.
- N2Africa project and its importance to the livelihood of the smallholder farmer will be understood by the finance personnel.
- The role that efficient financial management and reporting plays for proper implementation of the project will be discussed.
- Financial reporting standards and compliances and expectations from the donor will be adapted.
- The Importance of accurate and timely financial reporting for planning, budgeting and future collaborative activities with partner institutions will be agreed.
Process to meet expected outputs
- Presentations, group works on the reporting formats, experience sharing, discussions.
|08:30-09:00||Arrival and Registration||Simret|
|09:00-09:05||Welcome speech||Gail Amare, Head of Administration, ILRI-Ethiopia|
|09:05-09:20||Program & participants introductions, norms||Tamiru/ Birhan|
|09:20-09:40||ILRI-N2Africa: Overview, Workshop Objectives & Expected outputs||Endalkachew|
|09:40-10:30||Financial Reporting Standards: ILRI Compliances & Auditing systems||Wubalem/ Mesfin|
|10:30-11:00||Coffee & Group Photo|
|11:00-11:40||Financial Reporting Standards: AGRA-STTP Compliances||Demelash/ Gezahegn|
|11:40-12:30||Overview of ILRI’s budget management process||Wubalem|
|01:30-02:45||Group Discussions and experience sharing on budget and grant management||Wubalem/ Mesfin|
|02:45-03:30||General Discussion||Endalkachew/ Wubalem/ Mesfin/ Demelash|
|04:00||End of the workshop|
- ILRI-N2Africa Financial Reporting Format Updated version
- AGRA-SSTP Financial Reporting Format
- Guiding Notes for Group Discussion
- For more pictures,click HERE.
- List of participants
- Participant Institutions
ARARI [Amhara Region Agricultural Research Institute] Balegreen EIAR [Ethiopian Institute of Agricultural Research] HWU [Hawassa University] ILRI [International Livestock Research Institute] MBI [Menagesha Biotech Industry] OARI [Oromia Agricultural Research Institute] SCS [Sodo Chatolic Secretariate] Tsehay Union