General Principles.

• PFF commits to handling all finances with integrity and transparency, committing to manage funds responsibly and honestly and with the highest standards of financial accountability.

• For accounting, recording and reporting purposes, a month shall be recorded as a calendar month.  Each financial year shall commence on the first day of March and end on the last day of February.

• For designated/allocated funds, PFF will manage the funds responsibly according to the requirements as agreed in any signed terms of conditions or contract or written agreement  between PFF and the donor or partner.

• PFF will explain how it has used its resources and what it has achieved as a result to all stakeholders, including beneficiaries.

• PFF will compile adequate individual financial feedback reports as required and agreed upon with specific donors should this be requested.

• PFF’s expenditure shall be kept in balance with incoming funds, both at the operational and the strategic levels. The overall responsibility for this lies with the Board of Directors.

• PFF will capture the bookkeeping records of financial transactions and all supporting documentation will be appropriately filed and retained as per all legislative prescriptive requirements for retention of records in South Africa.

• The financial statements of PFF will be signed off by the Accounting Officer on an annual basis.  The cost of such audit/review will be borne by Pine Forest Pre-Primary School (Pty) Limited.

• PFF’s Annual Financial Statements will be reflected in the Annual Report.

• PFF will limit cash transactions to an absolute minimum and prefer electronic funds transfers (EFTs).

• Donations in cash will not be accepted.