CDP Financial Management Procedures

Centrist Democratic Party of the Philippines (CDP)
Unit 3, 2nd F MILLE Building, 335-337 Gil Puyat Ave. (formerly Buendia) cor. Dominga St., Pasay City Landline No. (+632) 385-2669 Mobile Numbers: 09276567528(Globe) ; 09287498674(Smart) Website:www.cdp.ph; Email address:cdemocrats2013@yahoo.com
CDP Financial Management Procedures 1. Collection and Management of Membership Dues on District- and Regional level 1.1 Amounts, dates and methods of membership dues payments Every core member of the party has to pay his membership dues of Php 1,000.00 as a total or in two tranches of Php 500.00, one for each half year. The amount is due in the second month of each semester. The payment can be made in cash, by transfer to an account of the CDP district organization or by cheque on the name of the account holder/signatory. Members, who do not belong to a CDP district organization because such an organization has not been established yet at their localities, shall pay their membership dues to the CDP regional organization or in case that this organization has not been established too to the CDP national organization. 1.2 Responsibility of collection The elected treasurer of the CDP district organization is responsible for the collection of the membership dues of all registered core members in the district in due time. He can delegate part of the responsibility to the deputy treasurer or other members of the elected district council after agreement with the district council. The responsibility for the collection of membership dues for Members, who do not belong to a CDP district organization because such an organization has not been established yet at their localities, is with the CDP regional treasurer or in case that the respective region has not been established too with the CDP national treasurer. If membership dues from a member, who belongs to a CDP District Organization or CDP Regional Organization, have been paid to a higher level CDP organization, they shall be transferred without deduction of shares in full to the respective lowest organizational level.
1.3 Reminders and consequences in case of overdue payments If a core member has failed to pay the membership due until end of the second month of the semester, the treasurer shall issue a written reminder transferred by e-mail, post or hand-delivery to the respective member until mid of the third month. (See attached template 1). If the payment is not received until the end of the third month, the Chairperson of the respective CDP organization shall issue a second written reminder to the respective member within two weeks, informing him on the termination of his CDP core
CDP Financial Management Procedures Page 1

membership in case that the payment is not received until the end of the fifth month (See attached template 2). If the membership dues have not been paid until the end of the fifth month of the semester, the Chairperson of the respective CDP organization shall initiate immediately the deletion of the respective name from the list of CDP core members. He shall be considered a volunteer member as long as he does not resign from the party membership or is not expelled. 1.4 Issuing of receipts An acknowledgement receipt, signed by the treasurer of the respective CDP organization, shall be handed out or transferred to a member not later than five days after each payment (See attached template 3).Three (3) copies of the receipt shall be made, one for the respective party district files, one for the regional party organization, one for the national headquarters of the party. After the CDP accomplishes the requirements of the Bureau of Internal Revenue the acknowledgement receipts shall be replaced by an official receipt. 2. Transfer of membership dues shares to the regional and national level 2.1 Amounts, dates and methods of transfer from local to regional level At the end of each month, not later than the second work day of the next month, the treasurer of each CDP district shall transfer the percentage of the district membership dues, which he has received during the month, to the regional treasurer in cash or to the bank account of the respective CDP Region through transfer or cheque. Together with the money transfer he shall also transfer two of the three copies of the receipts handed out to the respective CDP members. The regional treasurer will issue a remittance receipt to the CDP district after receipt of the district membership dues share (See attached template 4). 2.2 Amounts, dates and methods of transfer from regional to national level At the middle of each quarter, not later than the first workday after the 15th of the second month of the quarter, the treasurer of each CDP region shall transfer 40 % of the membership dues, which he has received during the quarter, to the national treasurer in cash or to the bank account of the CDP on national level through transfer or cheque. Together with the money transfer he shall also transfer one copy of the receipts handed out to the respective CDP members. The national treasurer will issue a remittance receipt to the CDP Region after receipt of the regional membership dues share (See attached template 4). Failure to transfer the regional membership

dues share on time will result to the suspension of regional representation to national activities such as the National Council meetings and National Congress (See attached template 5). 3. Bookkeeping, Auditing and Financial Management on District- and Regional Level 3.1 Responsibilities of the Secretaries, Treasurers and the respective councils The secretaries of the CDP District- and Regional Councils are in charge of the daily financial management of their respective organization. They have to take care for the payments as specified in the monthly budget and cash flow plan and for necessary unexpected payments within the limits decided by the respective council. They are also in charge of the book keeping. The treasurers of the CDP District- and Regional Councils are in charge of the collection of membership dues, donations and other revenues of the party, the issuing of receipts and reminders to members with overdue payments. They are also in charge of drafting the monthly budget and cash flow plans and of the monthly financial reports. Furthermore they are the supervising authority of the financial actions and transactions and daily accounting under the responsibility of the secretaries following the principle of four eyes management. The councils are in charge of deciding on the monthly budget and cash flow plan, to be drafted by the treasurer, and on the examination and approval of the monthly financial reports delivered by the treasurer. 3.2 Bank accounts, signatories, rules for issuing of cheques Each CDP district and regional organisation with more than 30 dues paying core members should open a bank account, as a sub-account of the CDP National Bank Account. Each bank account shall have three signatories, one of them the secretary of the respective council, one the treasurer and one the chairman or any other elected council member as convenient in the respective locality. Each transaction or issued cheque should be signed by 2 of the 3 signatories. Cheques should be issued on the name of the recipient of the respective amount or for encashment on the name of the secretary or deputy secretary of the respective council. 3.3 Petty cash and safe box The money collected from membership dues, donations and other revenues of CDP district or regional organizations shall be stored in a safe box at a place of convenience for access by the secretary or deputy secretary of the respective council. In case of existence of a bank account of the respective

CDP organization the money not scheduled to be used shortly shall stay in the bank account, whereas a certain amount scheduled to be used for cash payments within two weeks shall be stored as petty cash in the safe box. 3.4 Daily financial management: Cash book, double entry accounting In order to guarantee absolute transparency and orderly financial management, the secretary or his deputy shall use a cash book and the template with double entry account system provided from the national level (See attached template 6) with real time (daily) entry of each and any financial action or transaction, payments, revenues, crediting or debiting acts. 3.5 Control of disbursements The council of the respective CDP district or regional organization shall decide upon a system of control of disbursements. Further to the implementation of the monthly budget and cash flow plan the secretary shall be entitled to implement small payments and disbursements up to a certain amount without further authorization. Higher amounts shall need the confirmation of the treasurer or the council. 3.6 Storing of documents All bank and cash documents, contracts, quotations, bills, receipts and other related documents shall be stored in an orderly way ((See attached template 7a-7f, template 9 and template 10a-b) as hard copies and as far as existing also as soft copies at the secretary or deputy secretary of the respective council. They have to be transferred without further decision to the chairman of the council in case of resignation or replacement of the respective officer from his position or in case of inability of performing in this position for more than one month. 3.7 Monthly budget and cash flow planning The treasurer and/or the deputy treasurer have to prepare every month a monthly budget and cash flow plan, based on the expected revenues and expenditures and the existing bank/cash balance of the respective CDP organization (See attached template 8). This plan has to be regular part of the agenda of the monthly council meeting of the respective CDP organization. In exceptional cases the plan can be made for more than one month, however not more than three months. After its approval the plan is the basis for the daily financial management of the CDP organization by the secretary.

3.8 Monthly supervision meetings, reports, documentation of revenues and payments On one of the first two working days of a month the treasurer and/or the deputy treasurer of each CDP district or regional organization shall undertake a supervision meeting with the secretary and/or deputy secretary of the respective organization, examining the accounting documents of the last month, certifying the balance of bank account and cash and preparing the financial report of this month. This report has to show in detail all revenues and payments and has to include the certified balance of the month, including detailed list of debts/payables and credits/receivables (See attached template 8). It has to be presented to the respective CDP council for discussion in its next meeting. 3.9 Auditing: responsibilities, dates, issues After each quarter the auditors elected/appointed following the regulations in the CDP Constitution and By Laws in each CDP District have to conduct an audit of all financial actions and transactions and the general financial management performance of the respective CDP organization. This audit shall be completed during the first 10 working days of the next month. The report on the findings, conclusions and recommendations from this audit has to be signed by at least 2 of the respective auditors and shall be sent to the respective CDP council for inclusion in the agenda of the next meeting. Each CDP district council has to send its audit report together with the answers or remarks of the council on the report to the respective CDP regional council before the end of the month. The audits on the level of CDP regions shall be conducted in the first week of the second month after the end of a quarter in a similar way. They shall include in their report also their recommendations regarding the financial management performance in the CDP district organizations belonging to the respective region. The reports shall be sent to the regional council for inclusion in the next meetings agenda. 4. Financial Management on the national level 4.1 Responsibilities of the Secretary General, the Treasurer, staff of HQ The Secretary General of the CDP is in charge of the daily financial management of the CDP on national level. He has to take care for the payments as specified in the monthly budget and cash flow plan and for necessary unexpected payments within the limits decided by the Executive Board of the National Council. He is also in charge of the book keeping, the

filing of all financial documents and the preparation of all documents for the monthly financial report. He can delegate part of his responsibilities to the Deputy Secretary General. In case of his absence for more than 3 working days the Deputy Secretary General has to take over all his functions and powers until his return to office. The Secretary General can delegate the implementation of financial management obligations to staff, hired at the National Headquarters of the Party. They work under his supervision, the full responsibility for their actions and performance stays with the Secretary General. In case that staff of the Headquarters shall deal directly with national, regional or district officers of the CDP in the framework of financial management, this has to be communicated in written with clear specification of these delegated functions to the National Council, the regional councils and district councils of CDP. The National Treasurer of the CDP is in charge of the collection or coordination of the collection of membership dues, donations and other revenues from district or regional CDP organizations of the party, the coordination of issuing of receipts and reminders to members with overdue payments. He is also in charge of drafting the monthly budget and cash flow plan and of the monthly financial report of the CDP on national level. Furthermore he is the supervising authority of the financial actions and transactions and daily accounting under the responsibility of the Secretary General following the principle of four eyes management. He can delegate part of his responsibilities to the Deputy Treasurer. In case of his nonavailability for more than 10 working days the Deputy Treasurer has to take over all his functions and powers until his return to office. The Executive Board of the National Council is in charge of deciding on the monthly budget and cash flow plan, to be drafted by the treasurer, and on the examination and approval of the monthly financial reports delivered by the treasurer. 4.2 Observation of timely transfer of membership dues The Secretary General is in charge of the observation of timely transfer of the national share of membership dues from the regions to the bank accounts of the CDP on national level. On the first working day after the deadline he has to send out reminders to the regions with overdue transfer payments and has to inform the Executive Board of the National Council. A region, which is overdue with its transfer of the national share of membership dues for more than one month, will be temporarily suspended from participation of its

representatives/delegates to all national bodies (Party Congress, National Council, Executive Board of National Council). 4.3 Bank accounts: signatories, rules for issuing of cheques The CDP shall have at least one national bank account. Each national bank account of the CDP shall have three signatories, one of them the secretary general of the National Council, one the treasurer and one the party president. Each transaction or issued cheque should be signed by 2 of the 3 signatories. Cheques should be issued on the name of the recipient of the respective amount or for encashment on the name of the secretary general or the deputy secretary general. 4.4 Petty cash and safe box The money collected from the national share of membership dues, donations and other revenues shall be stored at the national bank accounts of CDP. A certain amount scheduled to be used for cash payments within two weeks shall be stored as petty cash in the safe box at the national headquarters. 4.5 Daily financial management: Cash book, double entry accounting In order to guarantee absolute transparency and orderly financial management, the secretary general or his deputy shall use a cash book and the template with double entry account system provided from the national level with real time (daily) entry of each and any financial action or transaction, payments, revenues, crediting or debiting acts. He can delegate this responsibility to one of the hired staff members at the national headquarters. However they have to work under his supervision. The Secretary General bears full responsibility for their actions and performance. 4.6 Control of disbursements The Executive Board of the National Council shall decide upon a system of control of disbursements. Further to the implementation of the monthly budget and cash flow planning the secretary general shall be entitled to implement small payments and disbursements up to a certain amount without further authorization. Higher amounts shall need the confirmation of the national treasurer or the executive board of the national council. 4.7 Storing of documents All bank and cash documents, contracts, quotations, bills, receipts and other related documents shall be stored in an orderly way as hard copies and as far as existing also as soft copies at the National Headquarters.

4.8 Monthly budget and cash flow planning The national treasurer and/or deputy treasurer have to prepare every month a monthly budget and cash flow plan, based on the expected revenues and expenditures and the existing bank/cash balance of the CDP on national level. This plan has to be regular part of the agenda of the monthly meeting of the Executive Board of CDP. In exceptional cases the plan can be made for more than one month, however not more than three months. After its approval the plan is the basis for the daily financial management of the CDP on national level by the secretary general. 4.9 Monthly supervision meeting On one of the first two working days of the month the national treasurer and/or deputy treasurer shall undertake a supervision meeting with the secretary general and/or deputy secretary general, examining the accounting documents of the last month, certifying the balance of bank account and cash. 4.10 Monthly reports, documentation of revenues and payments Within the first five days of a month the national treasurer and/or deputy treasurer has to prepare the financial report of the last month based on the accounting template of CDP, prepared by the secretary general. This report has to show in detail all revenues and payments and has to include the certified balance of the month, including detailed list of debts/payables and credits/receivables. It has to be presented to the Executive Board of the National Council for discussion in its next meeting. 4.11 Auditing: responsibilities, dates, issues After each quarter the auditors elected/appointed on national level following the regulations in the CDP Constitution and By Laws have to conduct an audit of all financial actions and transactions and the general financial management performance of CDP. This audit shall be conducted in the third week of the second month after the end of a quarter. It shall include also recommendations regarding the financial management performance in the CDP regional and district organizations. The report shall be sent to the National Council for inclusion in the next meetings agenda. 4.12 Yearly consolidated financial report of all party levels The National Treasurer shall prepare, based on documents collected and consolidated by the Secretary General and/or Deputy Secretary General, a consolidated yearly financial report of including all party levels until the end of the second week of March in the following year. This report shall be send

to the National Council for discussion and eventual approval in the next meeting.
5. List of CDP Financial Templates No. 1 2 3 4 5 6 7a 7b 7c 7d 7e 7f 8 9 10a 10b Description 1 Reminder on Membership Dues Notice of Delisting CDP Acknowledgement Receipt Remittance Receipt Notice of Suspension CDP Daily Accounting Entries Acknowledgement Receipt Documentation Bank Statement Documentation Bills Documentation Cash Receipt Book Contracts Documentation Quotations Documentation CDP Books of Accounts Liquidation Report Cash Voucher Check Voucher
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Type MS Word MS Word Paper Receipt Paper Receipt MS Word MS Excel MS Word, MS Excel MS Word, MS Excel MS Word, MS Excel MS Word, MS Excel MS Word, MS Excel MS Word, MS Excel MS Excel MS Word MS Word MS Word
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Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

Centrist Democratic Party of the Philippines (CDP)

CDP Financial Management Procedures

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