IGP Fund Policy

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Families and Children for Empowerment and Development Foundation 2290 President Quirino Avenue, Paco, Manila Income Generating Project (IGP) Fund POLICY Background: The Micro Enterprise Development (MED) Program generated an amount of Php 192,293.27 as of June, 2009 and it is deposited at Union Bank with account number 00030-001035-7. The generated amount is from the sales of FCED products. This fund will later be used for the sustainability of the Parents Association supported by ChildFund Phi
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  Families and Children for Empowermentand Development Foundation 2290 President Quirino Avenue, Paco, Manila Income Generating Project (IGP) FundPOLICY Background: The Micro Enterprise Development (MED) Program generated an amount of Php192,293.27 as of June, 2009 and it is deposited at Union Bank with account number 00-030-001035-7. The generated amount is from the sales of FCED products. This fund willlater be used for the sustainability of the Parents Association supported by ChildFundPhilippines. Purpose of the IGP Revolving Fund: a.To serve as fund for ongoing productions of the parents provided that there is asure income for the said production; b.To augment the services of ChildFund supported projects particularly the directassistance for health (which was removed from the regular services) Guidelines on the use of the IGP Fund :1.70% of the fund for IGP should be used for productions with sure income toincrease the fund for the sustainability of the parents association.a.The IGP fund should revolve with income. b.The requested amount should be used for the productions of FCED products with sure markets.c.The requested amount should not be used for loan products.d.The requested amount should be accounted to MED Coordinator as CashAdvance.e.The requested amount should be noted by the Project Manager andapproved by the Executive Director.  Requirements on Request of Fund: o Communication from prospect market declaring the order for the said production. The quantity, particulars and due date for delivery of the products should be clearly indicated as well as the name of company/organization/agency/person ordering the product, address,contact number and contact person for reference. o Provide projected income of the production attach to the request. o Attach activity proposal indicating budgetary requirements and other supporting documents for approval o Request should be 5 days before the activity date or production date. o If the requested amount exceeded to Php 10,000.00, it should be named toother staff.   Requirements on Liquidation of Cash Advance: o Submit liquidation form with the attached Original and Official Receiptsof raw materials and transportation expense only directly related to the production. Other expenses should be charged to OPEX. o Liquidation should be submitted within 5 days from the latest date in theofficial receipts. o On labor payment, provide job description form and acknowledgementreceipt attach to the liquidation form. o Attach a copy of financial statements of the production. o Reimbursement from liquidated cash advance should be requested rightafter the approval of liquidation and charge to IGP fund.  Requirements on Payment: o Payment on labor should be requested separately and named after theworker if the labor payment is above Php 500.00. o For labor payments below Php 500.00, it should be named after the MEDCoordinator as Cash Advance. o Cash or Check payment on sales of production should be receipted anddeposited at IGP fund account at Union Bank within 2 days after collection. Secure a copy of deposit slip for file.2.30% of the generated amount will be allocated to support health assistancefollowing these specific policies;f.The family is enrolled at Childfund projectg.Illness belongs to the list of illnesses identified by the project such as:  Primary Complex  Bronchitis  Pneumonia  Bronchopneumonia  Respiratory Infections (Upper and Lower)  Urinary Tract Infection  Tonsilitis  Diarrhea/Dehydration  High Fever/Dengue Fever/Typhoid Fever   Skin Disease/Allergy  Dogbite/Catbite  Gum or Tooth InfectionPreventable disease like cough, colds, and mild fever are not allowed.  Others (medical procedures) o Laboratory Test / examination o Accidents (Fracture, Vehicular, large and openwounds, 2 nd and 3 rd degree Burns, Poisoning) o Congenital Heart Disease  h.The income of the family must show inability to support the medical needsof the family.i.Family request for emergency assistance like life and death situation. j.Family can reimburse 25% of the total cost (cost not exceeding Php5,000.00) during medications.Requirements for reimbursements:k.Submit srcinal and readable receipts, validity of receipts is 1 month after date.l.Submit Original Medical Certificate from the doctor (Hospital or Clinic)indicating name of the patient.m.Submit Medical prescription indicating name of the patient.n.Written report of the patient’s health history which includes the nature of the illness, medicines or treatment administered prior and after bringingthe patient to the doctor and a brief summary of the family’s socio-economic status.o.Family requesting for health assistance should attach case summary fromthe Social Worker. p.Once the requested medical assistance or reimbursement is approved, thesocial worker will inform the family. If the request is below Php 500.00,it will be accounted to assigned social worker as cash advance while if it isabove Php 500.00, it will be given through check.q.Medical assistance or reimbursement in cash or in check will be issued tothe payee of the check. However, in case the payee is not available, the project will allow the relative to claim the assistance provided she/hecould provide an authorization letter and a valid ID including valid ID of the payee.Prepared by: Albert Edquila MED Coordinator-ChildfundFCED Foundation Noted by: Norilix Mansos Razalan Project Manager-ChildfundFCED FoundationApproved by: Ms. Teresita L. Silva Executive Director   FCED Foundation
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