2018-06-11 REF Operational Guidelines

# Activities Description
3.
4.
5.
VI. Reporting
1.
2.
Internal financing
arrangements
Change account keeping
bank and signatories
Purchasing goods and
services in REF Network
Entities (non-regular or
not budgeted over EUR
3,000 in value)
Monthly reports
(narrative and financial)
Selection of REF Network
Entity auditor
Country Director overseeing the project implementation shall
indicate such pre-financing need to the CFO and ED. Such a request
is considered and approved by the ED up to a limit of EUR 20,000
per individual request and cumulative annual financing amount of
EUR 100,000. Over these threshold, financing provided to
implementation partners shall be approved by the Governing Board
of REF.
It may be necessary from time to time for REF Switzerland to
provide bridge financing to other REF Entities for project activities
funded by third parties within the parameters and budget of
educational projects. In case such bridge financing is related to
budgeted and approved project activities that are to be reimbursed
by the funding donor, the Country Director overseeing the project
implementation shall indicate such bridge financing need to the
CFO and ED. Such a request shall be considered and may be
approved by the ED up to a limit of EUR 20,000 per individual
request, up to accumulative annual financing amount of EUR
100,000. Over these thresholds, such financing may be approved by
the Governing Board.
In order to maintain the integrity of the financial operations of the
REF Network and to achieve the best possible terms with account
keeping banks at the REF Network level, any changes in account
keeping bank by any REF Entity shall be consulted and approved by
the CFO and ED.
Any purchase of goods or services by any REF Entity that (i) exceeds
EUR 3,000 in value and is planned to be covered by core funding
provided by REF Switzerland and/or (ii) is not previously budgeted
in the budget of the REF Entity or any project that is implemented
by the entity shall be coordinated with the CFO and ED and
approved by ED.
All REF Entities are required to submit their monthly report on their
activities to the REF HQ. The monthly reports shall include a
narrative report and a financial report as described by the
operational and financial guidelines of REF.
Monthly reports shall be submitted to the Deputy Director and the
CFO by the 10th of the following calendar month.
It is highly important to ensure the consistency, transparency and
the high quality of financial statements across the REF Network,
therefore auditors of REF Network Entities shall be selected based
on a centrally managed tender process arranged and conducted by
the REF HQ. The Country Directors shall be consulted during the
selection and evaluation process of auditors. The Governing Board
and the Entity Boards shall approve the appointment of the
selected auditors for their respective REF Entities.
25