Rwanda Account Management Policy

After considering advantages and disadvantages of other banks, COGEBANK emerged as favourite. This bank has been recommended for its comparative moderate deposit (50,000 FRW or ~£50) and up to date IT services. Once open, the Rwanda account will be run as follows:

1. Three qualifying signatory members will be required to authorize payment. These are the head teacher, minister and Fulgence Kaneza- the coordinator- whose signature will be mandatory.

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2. The specimen signatures will be changed each time a new head teacher and minister are appointed by the local educational authority and regional pastor, respectively.

3. Every payment authorization for routine expenses (payment to food providers)or special expenses (see point 7)will be valid only if established in the presence of three quarters of the parents’ school committee members. The minute of each meeting will be recorded in writing and will specify the amount paid and the purpose of the payment.

4. The cheque will be signed openly in the presence of the above committee members.

5. The coordinator, Fulgence Kaneza, will keep a copy? of all issued cheques, and send them to the UK team every three months.

6. Assertions 4 and 5 imply that all payments will only be made by cheque, never by cash.

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7. Payments for purposes other than payments to food providers will require the authorization of the UK team. After this authorization, RSVP UK team will instigate a special money transfer from the UK account to the Rwanda account to pay for a particular/pre-agreed purpose. Otherwise, the Rwanda account will only hold just enough money to pay for no more than four weeks’ worth of school lunches.

8. Every monthly bank statement will be scanned and sent to the UK team. Like the UK account, the content of the monthly Rwanda account statement will be loaded unto “RSVP State of the Account blog” for transparency and donors’ scrutiny.

9. The original monthly bank statements along with copies of issued cheques and minute of every meeting which authorized payment shall be kept in a folder by Fulgence Kaneza.

10. In order to ensure authenticity, the bank statements, cheque copies and meeting minutes shall be subjected to regular on the spot checks either by the UK team or clearly mandated individuals. There shall be discussions on the identity and proof to be carried by mandated individuals.

11. In the event of corporate corruption involving all the signatory members- head teacher, minister and Fulgence Kaneza, all transfers from the UK account shall be immediately halted pending an inquiry. The UK team shall bear no responsibility for damage or loss incurred as a result, being it to children or catarers; and this may lead to the termination and/or relocation of the project to a different faith school.

12. Attempted but unsuccessful corruption by any signatory member will result in the loss of signatory qualification (point 1). His/her replacement will be decided by the UK and Rwanda team, but it is the responsibility of the Rwanda team to inform COGEBANK, and thus prevent further risks of fraud.

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13. Attempted and successful corruption by any signatory member will be affected as in point 12, and the corrupt member would have to pay every stolen cent. It is the responsibility of the Rwanda team to manage the recovery of the missing funds. Until- or if no- recovery is made, the fate of the project and RSVP liability are as in point 11 above.

14. In consultation with COGEBANK, the Rwanda team shall always take responsibility for preventing, halting or minimizing losses resulting from genuine acts of frauds. Even in such unfortunate losses, the fate of the project and RSVP liability will still be as in point 11 and 13 above.

15. Consistent with point 7 above, the UK team will transfer money no greater than four weeks lunches’ worth once a month. Since all transfer charges will be deducted from the UK account, the amount reaching the Rwanda account would always be accurately predictable.

16. Given that the UK team obtains money from initiators’ contributions and other donations, some of which are irregular or not readily predictable, the UK team will commit to no more than one year at a time. “Beyond one year, the UK team’s plea is that the Rwanda team trusts it as it itself trusts God for provision”.

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