annual report 2009 - Stichting Weeshuis Sri Lanka

PROCEDURES AND EVALUATION
INTRODUCTION
The Foundation has one fundraising objective: to set up and maintain an orphanage in the south of Sri Lanka. At the end of
2009 this orphanage had 127 children under full custody.
The governing principles of the Foundation are organized in two separate entities:
The Board of the Sri Lanka Orphanage Foundation
The Supervisory Board of the Sri Lanka Orphanage Foundation
The different responsibilities of the Board and the Supervisory Board have been formalized in the Articles of Association of
the Foundation. The Articles of Association are published on the website www.weeshuissrilanka.nl
Annually the functioning of the Board, the results and the meeting of targets is reviewed by the Supervisory Board. The
evaluation is recorded in the minutes of the Supervisory Board meetings. Additionally, every three years an extensive
qualitative evaluation takes place with individual interviews of the Board members by (members of) the Supervisory Board.
Before the Board starts executing its plans, these plans and budgets are reviewed and approved by the Supervisory Board.
The actual realization of targets, performance, the progress of the project and the financial reports are regularly reviewed
and evaluated by the Supervisory Board.
As well as reviewing and approval of the plans of the Board the Supervisory Board also has an advisory role. The Supervisory
Board can at all time give advice to the Board on strategic choices, financial matters, investments, fundraising etc.
Supervision of the daily operational management of the project is the responsibility of the Somawathi Saparamadu Trust.
Next to the Sri Lankan members of the Trust, two board members of the Sri Lanka Orphanage Foundation have a seat on
the Trust, with approval of the Supervisory Board. The Trust Agreement is the basis for the cooperation, the conditions and
responsibilities of the Trust and its members. The members of the Trust receive no compensation.
As part of the vision of the Sri Lanka Orphanage Foundation the operational management of the project is done by local
staff, all paid by local standards. The operational management provides a weekly report with progress on all aspects of the
project. Every month the local members of the Trust have a meeting with the local management.
The full Trust, including the Dutch members, has a meeting every three months. In these quarterly Trust meetings the
members discuss the progress of the project, all operational issues, investments, analysis of financial reports, quality issues,
and improvement plans. The minutes of the Trust meetings are summarized in the progress reports for the Supervisory
Board.
Evaluation of the finances
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