Financials & Reports

The finance function plays a vital role in the success of any organisation. This is because finance impacts every segment of an organisation’s operations and programmes.

The Management committee of LEPRA is committed to accountability and recognises that to achieve this they must have a strong code of conduct towards its donors. These include our individual supporters, funding agencies, trusts, corporate and fellow members of ILEP. In order to promote this relationship, LEPRA provides donors with regular reports on individually funded projects. LEPRA also maintains a website that provides donors with the latest information on projects, personalities and other material to keep them informed of our activities.

The management committee meets three times in a year to agree strategies, and make major decisions which affect the development of the society and it achieving its objectives.

The management committee has overall responsibility for the management, policy and direction of the society.

The committee constitutes professionals from varied fields such as community health, economics, finance, applied research, etc.

Management committee is appointed on the recommendations of the general body and after a meeting between the members.

LEPRA believes that to ensure a comprehensive policy on financial accountability it is essential to have the availability of recognised specialists in audit, bankers & investment, to provide the necessary support and guidance. To achieve this we have appointed the following recognised leaders in their field.

Statutory Auditors:
V. Ravulapally & co.,
Chartered Accouontants,
Plot no 79, C Block,
Madhava House, 1st floor,
Sriram  Nagar colony,
Kondapur, Hyderabad.

Ph. No. 040 32591514, 9848031083

Bankers:
Industrial development bank of India, (IDBI Bank),
Basheerbagh Square, Hyderabad
Andhra Pradesh, India

LEPRA further recognises the need to ensure that it complies with all legal requirements within India:

LEPRA’s financial year ends on 31 March. After preparation of accounts by the Management and the Staff, the ‘Financial Statements’ are audited by V. Ravulapally & Co.

These are then approved/adapted by the Management Committee and submitted to the General Body for acceptance, which normally is in January. This is one of the most important ways in which LEPRA demonstrates its accountability to its donors. Once approved the ‘Financial Statements’ are sent to all our supporters / donors who have requested a copy. A copy of the latest set of accounts is also available on our website by going to https://leprasociety.in/finance.html.

Copies can also be obtained by contacting LEPRA on +91 40 27802139 or by e-mailing omprakash@leprahealthinaction.in.

1. LEPRA Society is committed to the objective of maintaining sound financial management systems across all levels of the organization, with high standards of accountability and transparency.This is achieved with the help of having the standardized financial policies and procedures with respect to the Accounting system, Management accounting, reporting system and budget control system, as also formalization of Internal control procedures at all the levels. All the systems are formally documented into financial systems and procedures manual, which is followed across the organization. Further LEPRA Society’s financial systems and procedures are regularly reviewed, upgraded and documented.Ongoing orientation and training is provided to the finance staff across the organization to build capacities and further enhance effectiveness.

The budgeting process at LEPRA Society is a ‘Bottoms-Up’ approach to planning, with the individual projects preparing their action plans and budgets on the basis of the broad guidelines circulated by the Head Office and within the framework of the overall strategy of the organization. The budgets as prepared by the projects are reviewed by the respective Regional Offices / Divisions and after agreed amendments, recommended to the Head Office. At the Head Office, the budgets are reviewed with the respective Directors in the context of the overall organizational priorities and thereafter consolidated and documented for the agreement of the Management Committee of LEPRA Society, for final approval.

The investments have been acquired in accordance with the powers available to the Society. The Management Committee have considered the most appropriate policy for investing funds meeting all statutory requirements.

In addition to the statutory audit, LEPRA Society also does internal financial review of project offices. Internal financial review is basically designed to strengthen the internal control system of organization and strengthen the financial systems across the organization. This is an internal tool to maintain the standards of Financial Management in the organization and train finance staff in the new developments.

Financial review of all projects will be conducted by an in-house committee comprising of Head of Finance (1 No.), Finance Managers (3 No.) and Finance officer (1 No.). The review is normally done twice a year.

LEPRA Society recognises the importance of giving the Donors and the Senior Management Team up to date financial information to enable relevant strategic decisions.

Management Accounts are produced on a quarterly basis, normally within seven working days of the start of the following month. This report gives an overview of the financial performance of LEPRA and includes comparison to budgets, and fund availability. As a normal practice of annual reporting, an audited report of donor grants will be submitted to the donors. This audited report is produced within 45 days from the completion of the budget year

LEPRA Society has also recognised that to get a true reflection on performance, a forecast should be incorporated within the management accounts, reflecting major known changes to the original budget on a quarterly basis.