Financial accountability
Managing resources responsibly
TUSIC seeks to manage funds and other resources with integrity, appropriate authorization, accurate recordkeeping and accountability to communities, donors and organizational stakeholders.
Current disclosure: TUSIC does not yet have an annual report published on this website. Financial statements should only be described as audited or independently reviewed after the relevant process has been completed and approved.
Annual reportsOur responsibility
Every contribution carries a responsibility
Financial accountability begins with clear authority, appropriate budgets and reliable records. It continues through reconciliation, monitoring, reporting and independent scrutiny where required or appropriate.
Controls should apply to money received, money spent, bank accounts, payment methods, equipment, restricted funds and other resources entrusted to TUSIC.
The strength and complexity of each control should reflect TUSIC’s size, legal obligations, operating environment, transaction volume and level of risk.
Financial-control framework
Controls across the financial lifecycle
TUSIC should establish documented controls that cover each stage from receiving funds to reporting how resources were used.
Budgets and priorities
Prepare and authorize budgets connected to approved plans, available resources and reasonable assumptions.
Income and donations
Receive money through approved channels, identify its source and record any accepted restrictions.
Expenditure authorization
Require appropriate approval before committing funds, making payments or entering financial obligations.
Accounting records
Keep complete records supported by invoices, receipts, agreements or other appropriate evidence.
Accounts and balances
Compare bank, cash and accounting records regularly and investigate unexplained differences.
Oversight and disclosure
Provide appropriate reports to authorized leadership, funders, regulators and the public where applicable.
Checks and balances
No one person should control an entire transaction
Where staffing permits, key responsibilities should be separated. If full separation is impractical, TUSIC should introduce documented supervisory or retrospective checks.
Request
Explain the organizational need and provide supporting information.
Approve
Confirm that the transaction is authorized, affordable and appropriate.
Pay
Release funds using an approved account and payment method.
Record
Enter the transaction accurately in the relevant financial records.
Review
Independently examine the transaction, evidence and reconciliation.
Donations and restricted funds
Accepting support responsibly
TUSIC should only accept funds through authorized channels and should understand relevant restrictions, compliance risks and reporting obligations before accepting a contribution.
Donation informationApproved payment channels
Only officially confirmed accounts and payment methods should receive contributions.
Source and risk checks
Apply proportionate checks to unusual, high-risk or legally restricted contributions.
Written restrictions
Record any agreed restriction and ensure TUSIC can manage and report against it.
Accurate acknowledgements
Do not describe a receipt as tax-deductible unless that status is legally confirmed.
Purchasing and partners
Fair, proportionate and documented purchasing
Procurement decisions should consider need, value, quality, safety, conflicts of interest, supplier suitability and the local operating environment.
Fraud and misuse prevention
Protecting funds from loss and abuse
Financial controls should address ordinary error as well as deliberate fraud, corruption, theft, cybercrime, diversion and misuse of organizational assets.
Banking security
Use approved accounts, strong access controls, independent payment authorization and prompt access removal.
Payment verification
Independently verify new or changed payment details before transferring money.
Cash controls
Minimize cash use and document custody, counting, transfers and reconciliation.
Conflict management
Disclose relationships or interests that could influence purchasing or financial decisions.
Transaction monitoring
Review unusual, duplicate, unsupported, split or out-of-budget transactions.
Reporting concerns
Provide an appropriate way to report suspected fraud, corruption or financial misconduct.
Financial reporting
Publishing information only after verification and approval
TUSIC should publish appropriate financial information once the relevant accounting period is complete and the information has been prepared, reviewed and formally approved.
Management reporting
Regular internal reports comparing actual income and expenditure with approved budgets.
Governing-body oversight
Appropriate review of financial position, risks, restrictions and significant variances.
External reporting
Reports required by applicable regulators, funders, agreements or organizational commitments.
Public disclosure
Approved summaries or statements that do not mislead, expose protected data or create security risks.
Raise a concern
Suspected fraud or financial misconduct
If you reasonably suspect theft, fraud, corruption, bribery, diversion, unauthorized expenditure or another financial irregularity connected to TUSIC, report it through the complaints and feedback process.
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