Network of African Youths for Development - 'Together is better'
Actiontoolkit - Take Action! - Financial management 

If you are conducting a larger project that involves a series of tasks over time, then it is acceptable to rely on a schedule of payments, deposited in your bank at agreed times. Again, however, make sure these payments are guaranteed and contracted in writing before you start your project. It’s not what you want to hear, but it really is the best way. Unless you are 100% sure of your funds, this is the only way to avoid getting stung. Financial management is also a matter of keeping and demanding receipts and evidence of expenditure from everyone on your team. This can be very hard when you are dealing with small amounts, but it is still very necessary. Small amounts add up to large ones and if you have unidentified gaps in your expenditure no one will take you seriously. It is often wise to appoint one team member to be the treasurer to look after the accounts. However, as project manager you should always be acutely aware of your finances and the exact state of your balance sheet from one day to the next.

Cash flow
Having the money at the right time to pay the bills is the biggest challenge faced by every businessperson and project manager, young and old. The way you will handle your cash flow will depend on the size and time span of your project. If you are completing a small project, with one main objective, digging a well for example, then the main piece of advice is this: Do not start your project until all the money you need is in the bank.

Corruption
Stick to your morals.You are the future! If you don’t kill corruption,who will? Encourage all your team members to join you on the moral high ground. Holding up positive values today makes people more likely to do so tomorrow. Once our generation become Ministers and senior officers in companies and public institutions, the positive values we learn on these projects will become the norm and we will finally be able to break this appalling cycle of corruption.

Balance Sheets
Not sure what a balance sheet should look like? Your balance sheet should show the amount of money in the bank (in credit) set against the amount of money you have to pay out (the debit) . If your finances are healthy the resulting number should always be a plus!
A.Fixed Assets - Tangible assets:Items bought for the project thaAfrica scenet still have a value;give a rough idea of their value on the second hand market.
B.Current Assets - 1)Debtors:outstanding bills and invoices that you still have to pay. 2) Cash in bank:any money that you still have left in the bank. 3) Creditors:any money owed to you.
C.Net Current Assets - This is what you have (2) + what people
owe you (3) less what you owe others(1)
D.Net Assets - Your net current assets (C) + your fixed assets (A)
E .Plans for Disposal
At the end of a project,your balance sheet should show zero net assets.If you have been able to save funds during the project by,
for example,getting materials donated, you have to explain to the sponsor what you are going to do with it or they may ask for the
balance back.So use it to expand or continue your project.

Be Aware. Don’t be naïve or in denial about what goes on.If you are aware of corruption,then it is easier to take steps to avoid it.
Avoid Gifts. Don’t give or receive gifts as it is impossible to draw a firm line between a gift and a bribe. The giving or receiving of any gift could compromise your position. Know your context.Be aware of clan/tribe structures and how this helps/defines people.
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