Page 177 - PARAMETER E

Part 4- Income Generating Projects

CHAPTER 5
RECORDS AND RECORDING SYSTEM

5.1. Introduction
Records are necessary in monitoring and evaluating project’s performance, and
serve as basis in making decisions, formulating policies, and calculating incentives.
In project management, three persons/offices should keep same set of records
project manager, IGP director, and accounting office. Monthly reconciliation of income
and expenses records is encouraged to minimize problems of wrong entries at the end of
the production cycle.

5.2. Keeping of Records
Records are supposed to be kept and will be available when required by the BOM
or other higher authorities. The officials responsible in the safekeeping of records as
specified below are the following:

5.2.1. IGP Director
5.2.1.1. Journal of Analysis of Obligations (JAO). This is reconciled with the accounting office
annually.
5.2.1.2. Status reports of projects
5.2.1.3. Semi-annual and annual reports
5.2.1.4. Copy of labor contract and lease contract
5.2.1.5. Copy of RIV, PO, Abstract of Canvass, ROA, vouchers
5.2.1.6. Copy of appointment of SO and casual employees
5.2.1.7. Financial analysis report of the project analysts and accounting office
5.2.1.8. Cash advance ledger of the BOM chairman
5.2.1.9. Designation of Project Manager

5.2.2. Project Manager
5.2.2.1. Farm Plan and Budget
5.2.2.2. Warehouse receipt or weight ship (for crop projects)
5.2.2.3. Delivery receipts of product brought to market outlets
5.2.2.4. Sales invoice
5.2.2.5. Status report of project
5.2.2.6. Semi-annual and annual reports
5.2.2.7. Income statement prepared by project manager, accounting office and project
analysts.
5.2.2.8. Financial analysis report of the project analyst

5.2.3. Accountant
5.2.3.1. Journal of Analysis of Obligations (JAO)
5.2.3.2. General ledger
5.2.3.3. Subsidiary ledger
5.2.3.4. Checks paid
5.2.3.5. Trial balance
5.2.3.6. Income Statement of each project

164
IFSU Code