Partner Finance Monitoring Checklist
Partner Name:.……………………………………………………………………………………………………….…
Project Code/Title: ………………………………………………………………….Budget Total:………………..
Completed by:……………………………………….………………….. Date:…………………….………………..
Please refer to assessment list, queries on previously submitted reports and previous monitoring points on
issues to follow-up.
Guide Questions Yes No Remarks
1. Conduct a cash count and bank
reconciliation in custody with the cashier.
1.1. Is there a cash count conduct regularly, at
least once a month?
1.2. Who do the cash count and who do the
verifying?
1.3. Does the total cash balance reconcile with
the cash count?
1.4. Where is the cash kept, is it in a secure
place allowing access only to the cashier?
1.5. Is total cash holding appropriate to the
Partner’s operation?
1.6. Are chequebooks properly locked in the
safe?
1.7. Is the Partner’s bank account in the
organisation name? If not, what is the
control in place.
2. Check whether collection is deposited
timely. Review file of deposit slips. Trace
amount deposited as against what is
recorded in the cashier’s Cash Book.
If partner has a check account:
2.1. How often do they deposit collection to
bank?
2.2. Compare the deposit slip with cashbook
records to see that it is updated timely with
correct amount.
If partner has only cash on hand:
2.3. Check that receipts are recorded to
cashbook timely.
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Guide Questions Yes No Remarks
3. Process map the system of handling and
recording cash receipts. Establish what are
the books/records maintained by the cashier
and the finance officer.
3.1 Is an official receipt issued for all
collections?
3.2 Are there persons other than the cashier
who are allowed to issue an official receipt?
3.3 Does the cashier maintain a cashbook
where receipts and disbursements are
recorded?
4. Review file of official receipts issued.
Check numerical sequence, missing official
receipts etc.
4.1 Are the official receipts printed? And pre-
numbered? If no, what is the control in
place?
4.2 Are receipts issued in a sequential manner?
4.3 Are there missing official receipts?
4.4 Are cancelled, spoiled official receipts
stamped ‘Voided’ and filed?
5. Obtain the existing policy on delegation of
authority.
5.1 Is there any policy on limits of payments by
petty cash, cash, and check? Obtain
document.
5.2 Is there any delegation of authority
document stating authorisation level for
purchase and payment transactions?
6. Conduct a test of disbursement
transactions. On a random basis, select
from at least 3-months transactions and
vouchers to check documentations and
approval on payment.
6.1 Is a voucher system for payment being
implemented?
6.2 Is there any delegation of authority
document stating authorisation level for
purchase and payment transactions?
6.3 Are ‘Petty’ expenditures paid through the
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Petty Cash Fund?
6.4 Are petty cash vouchers prepared to cover
petty expenses?
6.5 Does the paid petty cash voucher exceed
the limit for payment?
6.6 Are all cash/check vouchers properly
approved by the authority as stated in the
delegation of authority document?
6.7 Are the cash/check vouchers pre-
numbered?
6.8 Are cash/check vouchers supported with
appropriate supporting documents?
(Approval requisition, quotations, supplier’s
delivery or invoice, receipt)
6.9 Do the cash/check vouchers bear the
required approval?
6.10 Are checks ‘crossed’ or made payable to
the ‘Payee’ only?
6.11 Are there supplier’s official receipt to attach
every payment vouchers? Has the invoice
or receipt been tampered with or amended?
6.12 Are paid vouchers and supporting
documents stamped ‘PAID’?
6.13 Have we witnessed what has been
declared as being built or purchased? If
possible, take a look at the goods and make
judgment on validity of the amount.
6.14 Have we met with beneficiaries, who have
attended the workshop to confirm the
duration and reimbursement cost?
6.15 During our monitoring visits try to meet with
all partner’s staff to verify that they matched
with reported expenses.
7. Test check balances of cash and
bankbook, and trace posting to the General
Ledger.
7.1 Are ledger entries properly referenced to the
supporting vouchers?
7.2 Are the balance of the cash and bankbook
accurate?
7.3 Are the account balances posted in the
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General Ledger correctly?
8. Review financial report: Budget vs. Actual
8.1 Are the balance from General Ledger
posted correctly to financial report?
8.2 Is the report prepared in accordance with
donor’s format and the budget format?
8.3 Is the Partner funded by more than one
donor, if yes, are the requirements of the
other donors consistent with XYZ’s? What
are the constraints?
8.4 Is the financial report prepared on a monthly
basis and timely?
8.5 Does the Partner review, analyse variances
and take corrective action on the result of
the monthly financial report?
8.6 Are recommendations and feedback from
XYZ being implemented or taken into
account?
9. Reporting to XYZ
9.1 Does the Partner meet the deadlines
indicated in the contract?
9.2 Are reports received before the next
transfers are made?
10. Check the handling of stock and fixed
assets?
10.1 Are assets required to run the project? Do
we already have an asset that can
adequately perform the desired function?
10.2 Are there proper identification tags on all
the assets? (Check sample or total)
10.3 Are the assets properly utilized and solely
for the project?
10.4 Are fixed assets e.g. vehicles properly kept
in a secured place?
10.5 Are all assets entered in the fixed assets
register with complete information
(Acquisition date, identification no., model,
serial no., amount, location etc.?
10.6 Are budget purchased in conformity with
budget?
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10.7 Is there a proper chain of accountability for
use of assets?
10.8 Are assets utilized for the sole purpose of
the project?
10.9 Is fuel consumption in line with budget/
expectations? Are frequencies of vehicle
breakdowns monitored or vehicles
independently checked?
10.10 Is there an appropriate insurance policy
for each vehicle funded by XYZ?
10.11 Are assets disposal in conformity with the
procedure stipulated in the project?
10.12 Are stocks maintained?
10.13 Are stocks recorded regularly updated
and signed off by a responsible officer?
11. Float and Loan Registers
11.1 Are the registers up to date?
11.2 Are there any large, outstanding floats or
loans? If yes, why?
11.3 Are liquidations being made promptly?
12. Salary Advance Register
12.1 Are the registers up to date?
12.2 Have all advances been deducted from the
monthly salaries?
12.3 Has any member of staff consistently been
receiving salary advances?
13. Existence of competent personnel
13.1 Is there a finance team of at least one
person?
13.2 Does the finance team have adequate
accounting skills?
14. Proper filing of accounting documents
14.1 Are accounting/ supporting documents
properly filed?
14.2 Is the filing system consistent?
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14.3 Document easy to retrieve and
crosscheck?
14.4 Are document kept in archives for the time
duration specified in the country legislation
or contract?
15. Proper utilisation of fund – Programme
Visits (Beneficiaries)
15.1 Is there a calendar of visits (scheduled or
impromptu)?
15.2 Are field visits being carried out in line with
the calendar?
15.3 Are resources reaching the beneficiaries in
line with the project proposal?
15.4 Purchases made for beneficiaries, are the
assets in good condition and with
beneficiaries?
16. Proper utilization of fund – Control of
activities and utilization of assets against
approved budget.
16.1 Is there a signed contract with approved
budget annexed?
16.2 Does the financial report match the activity
report? If not, why not – can any variances
be explained?
16.3 Is there any overspend for activitiy against
budget? If yes, and expenditure continues
at the current rate, will there be enough
money to complete the project?
16.4 Are amendments to budget lines preceded
by formal demand duly authorised?
17. Training and support
17.1 Have the areas of weakness been
identified?
17.2 Have the training and support plan been
established and planned?
17.3 Have the training and support been
conducted?
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