PHIG Policy Framework v1.2 · Policy 45 · Adopted 1 September 2026 · References: ASF Policy 46; 2 CFR 200.305 (payment, interest on advances); EU MGA Art. 22 (payments, pre-financing); Georgian accounting law
1. Purpose and scope
To control bank accounts, cash and advances so that funds are safe and traceable. Applies to the Board, the Director, staff, consultants, volunteers, experts, partners and suppliers of PHIG and all platforms of its network.
2. Policy
- Bank accounts opened only by Board decision in PHIG’s name; euro, lari and (where needed) dollar accounts; two signatories; online banking with two-factor authentication and dual approval above EUR 1,000.
- Donor pre-financing is held in the account designated in the grant; interest earned is treated as the grant requires; separate accounts opened where a donor requires.
- Petty cash limited to EUR 500 with a custodian, a cash book and monthly reconciliation; no cash transaction above EUR 200.
- Advances to staff for travel or field work approved by the Director, limited to estimated need, settled within 15 days with receipts; no second advance while one is open.
- Monthly bank reconciliations reviewed and signed by the Director; discrepancies investigated.
- No personal use of PHIG accounts; no PHIG use of personal accounts, except reimbursed expenses.
3. Procedures
- Bank mandate register; cash book; advance register; reconciliation file.
Responsibilities
Accountant; Director; Board.
Review
Every two years and when donor rules change.
Part of the PHIG Policy Framework. Breaches and concerns may be reported under the Whistleblowing Procedure to info@accreditation.ge (subject “Confidential — integrity”).