Here are some of the latest and most helpful discussions from the Forum this week:
- Understanding Rule 5 and Project Wise Reporting in FC-4: Rule 5 defines Administrative expense out of FC utilization during a financial year for adhering to the 20% ceiling. The 20% ceiling is on FC receipts during the year. The Rule is reproduced below. View the full post here →
- How to allocate interest earned in common or pool bank account for many grants? For allocating interest across projects from pool account, please use the attached xls. Use this consistently and also share with your donors. It represents fair allocation of interest for multiple projects from a common bank account. View the full xlsx file here →
- About handling petty cash: There is no legal provision on the amount of petty cash fund. Ideally, the fund amount should meet two to three weeks of your petty cash expenses. That should be the size of fund. Petty cash fund could be... View the full post here →
- Is there any limit for keeping the surplus for Section 8 Companies? No there is no limit on keeping surplus which we understand is the 15% set aside from income allowed under Section 11 of Income Tax Act. Join the discusion here →
You can always browse more questions or ask your own on our forum below. Or message us directly on WhatsApp and we will post your question to the community forum.
PATTIC Forum
People’s Alliance for Trust And Transparency in CSOs
Best,
PATTIC Team
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