Budget, Forecasting and Monitoring Process of ICCDR,B

Abstract

ICDDR,B (International Centre for Diarrhoeal Disease Research, Bangladesh) is an international health research institution established in Dhaka dedicated to saving lives through research, treatment and trainings since 1960. There are five major divisions including Health System and Population Studies, Nutrition and Clinical Services, Infectious Diseases, Maternal and Child Health, and Laboratory Sciences and Services led by experienced management team and board of trustees. With the help of its core donors and project based donors the organization conducts its research, training and extensive activities ranging from improving neonatal survival to HIV/AIDS. Finance Department has the overall responsibility for financial operations, including fixed assets management. Financial operations include: cash management and custodianship of funds, processing of staff salary, compensation and benefits, preparation of annual budget, financial proposal for prospective research, ensuring donor and other statutory compliances, recording of all financial transactions, commitments, preparation of financial reports for various stakeholders, sub-awards management, full cost recovery, and an assortment of financial analysis for strategic decision making. The Department is also responsible for facilitating financial reviews, annual audit of the Centre and project audits. The following diagram briefly highlights the functions of the Finance Department. In this report I am going to describe Budget, forecasting and monitoring process of icddr,b. In here I include all of the Steps, Procedures; Documents and Criteria are followed by Core Finance Department. Also add Annual Budget for 2019, so it helps to understand budget and forecasting easily.