HOW DONATED FUNDS ARE SECURED AND MANAGED
The Trustees of the EACDT have established a Management Accounting system to ensure that every penny donated goes directly to helping the children of East Africa.
All donated funds are paid into, or transferred directly by donors to, a bank account maintained with Barclays Bank in the UK (as, at present, donations are only raised outside East Africa) in the name of the Foundation. The Foundation maintains bank accounts with Barclays UK in Pounds Sterling and in US Dollars. Payments are made from the Barclays UK accounts on the basis of two signatures on each cheque or on the authority of a volunteer administrator, Mr Howard Cohen, a retired magistrate. Before authorising any transfers, Mr Cohen seeks the approval of either the Executive Trustee, Mr Simon Prodger, or one of the other trustees, which is usually Mr Julian Ince (see below). This particularly applies to transfers to the Pound Sterling bank account maintained in Nairobi, Kenya.
In Kenya, where EACDT’s charitable activities are carried out, two bank accounts are maintained with Barclays Bank of Kenya Limited, one in Pounds Sterling and one in Kenyan Shillings. These accounts are in the name of a Kenya charitable trust, The Foundation for Youth Cricket and Education in Kenya (FYCEK) that EACDT set up to give it a legal presence in Kenya. This gives EACDT the ability to set up contracts of employment with its coaches and administrators, procure locally and comply with Kenyan employment laws.
FYCEK has a Board of Trustees, two of whom, Mr Derek Breed (the Founding Trustee of EACDT) and Mr Julian Ince, are also Trustees of EACDT. Mr Ince, a retired former partner in PricewaterhouseCoopers and a UK Chartered Accountant, is resident in Kenya and, through regular reviews of spending, monitors the transactions that FYCEK enters into. When FYCEK is in need of funds, its Kenya resident Programme Director, Mr David Waters MBE, sends a request to Mr Howard Cohen (see above), usually for an amount of £10,000 (FYCEK’s monthly expenditure, mainly on coaches’ salaries, is around £3,500 and transfers of this amount reduce bank transfer costs and administration time). Mr Cohen then seeks approval from an EACDT Trustee, usually Mr Ince, and authorises the transfer. Mr Waters then makes transfers from FYCEK’s Sterling bank account to its Kenya Shilling bank account at a rate of exchange he negotiates with Barclays Kenya treasury department. No other payments are made from this bank account. For payments from the FYCEK Shilling account, two signatories are required on any cheque (no direct transfers are made from this account); the signatories are FYCEK’s trustees and Mr Waters. For a cheque to be drawn, a cheque requisition is first prepared by FYCEK’s Kenyan administrator on a pre-printed form. This requisition gives the name of the payee, the reason for the payment and has supporting third party documentation attached. This is then authorised by Mr Waters (or by Mr Ince if the payment is to Mr Waters for reimbursement of bona fide expenses). The Administrator then draws up the cheque and it is signed and given to the payee.
A petty cash float is maintained (at the equivalent of £65/US$ 100) on the imprest system for incidental expenditure. Expenditure is recorded on petty cash vouchers, third party documentation is attached and the payment approved by Mr Waters. When the petty cash float needs reimbursement, the Administrator prepares a list of payments that have been approved and made and presents it to Mr Waters for approval as in the cheque requisition process set out above.
The Administrator prepares a monthly summary in a prescribed format of all receipts and payments into and out of FYCEK’s bank accounts and petty cash float for Mr Ince’s and Mr Waters’ review. This summary is then combined with receipts and payments recorded in EACDT’s UK bank accounts to provide a summary, again in a prescribed format, of the combined EACDT/FYCEK receipts and payments, together with comparative budgeted amounts. These are then reviewed at EACDT’s quarterly trustee meetings. 31 March is the financial year end of both EACDT and FYCEK. FYCEK’s receipts and payments for the year together with some explanatory notes are then independently audited in Kenya. These audited accounts are then aggregated with EACDT’s receipts and payments and a combined set of receipts and payments account and supporting explanatory notes are prepared and submitted to EACDT’s independent examiner together with any supporting records he requests. After making any appropriate adjustments, he then files EACDT’s annual receipts and payments account and explanatory notes with the UK’s Charity Commission. To download the latest Accounts, please click here.
Trustees:
Derek Breed:
Derek was formerly Joint Chairman of The Ashburton Group. A member of Kenya Kongonis Cricket Club since 1954 and its Patron since 2012, Derek captained the Kenya international team (1968/9) and Jersey (1982). He is experienced in charity work.
Derek.Breed@monalto.co.uk
Julian Ince FCA MBA:
Julian was a Partner of PricewaterhouseCoopers in East and Central Africa and continues to serve as Treasurer of Kenya Kongonis Cricket Club in Nairobi where he has been a member for over thirty years.
Chris Newson:
Chris is a UK born, South African bred Chartered Accountant who spent the last 24 years with the Standard Bank Group, Africa’s largest bank. Having played a number of executive roles in the Group he spent the last 11 years focused on Sub Saharan Africa culminating in his appointment as CEO Africa responsible for the operations in 19 countries including significant operations in East Africa . Now living back in the UK, Chris is an avid cricket fan (though more watching than playing these days!) with a deep rooted love of Africa and a passion for leadership.
Simon Prodger:
Kenya born, Simon focused on the publishing industry and was Chairman of the Board of Trustees of NewstrAid, the industry’s charity. He is Secretary and Chairman of Cricket of the Club Cricket Conference and Managing Director of the National Cricket Conference. A Kenya Kongoni since the age of 15, Simon is closely connected to East African cricket through his links with the Tanzania Cricket Association. He managed MCC’s tour to Tanzania in 2012 and co-ordinates a player placement programme between the UK and Tanzania.
siprodger@eacdt.org
Registered Office:
East Africa Cricket & Educational Foundation
c/o 24 Eastwick Crescent
Rickmansworth
Hertfordshire
WD3 8YJ
Registered Charity Number 1153030
Independent Examiner:
Brian T Cook FCA
Brian Cook Associates
Marine House
151 Western Road
Haywards Heath
West Sussex
RH16 3LH
Bankers:
Barclays Bank PLC
43 High Street
Sutton
Surrey SM1 1DR
Legal Advisors:
Berwin Leighton Paisner LLP
Adelaide House
London Bridge
London EC4R 9HA