1.0 Introduction
BUDS UK is committed to following a unified and acceptable pathway for accepting and executing projects that benefit underprivileged communities. The document includes an application form for all projects considered for funding, a detailed assessment and approval process, and a risk assessment process supported by a risk assessment tool.
2.0 Project Application Process
All projects, whether ongoing or new, must have a completed application form submitted annually to the Board of Trustees for approval. Nominated Board members (project leads) present completed application forms during meetings. The application must clearly outline:
- The needs or core problems that the project proposal aims to address.
- Details of the beneficiaries, including demographics and how they will benefit.
- The resources needed for the project.
- A detailed time-line and budget for the project.
3.0 Fund Allocation and Transfer
- Trustees share joint responsibility for negotiating project funding and analysing cost-effectiveness.
- Beneficiaries must agree to fund transfers via the BUDS BT pathway.
- Funds shall not be transferred to any individual's personal account in the UK or Sri Lanka.
- All transactions must be acknowledged and receipts submitted to the Treasurer.
- Private providers must provide an estimated written quote; multiple quotes may be sought for cost-effectiveness.
- Project leads must take all reasonable steps to prevent foul play, fraud, or bribery.
4.0 Evaluating Progress, Reporting Outcomes
It is the responsibility of the trustees to continuously monitor all projects after their finalisation and the allocation of funds. Project leads must present periodic updates to the board of trustees. Any shortfalls identified must be rectified promptly.
5.0 Risk Assessment
All BUDS UK trustees, project leads, facilitators, and beneficiaries must be familiar with the risks associated with any charity-related project activities. They should participate in necessary risk assessments and implement mitigating measures. Refer to Risk Assessment Tool (Form PRA 04).
7.0 Mandatory Due Diligence Checks
- All reasonable precautions must be taken in advance by those tasked with managing charitable funds and projects.
- Implement and maintain appropriate systems to ensure financial transparency throughout execution.
- Adhere to the Risk Assessment Tool to avoid errors and ensure smooth execution.
- Trustees must conduct due diligence checks on donors, beneficiaries, and local partners and monitor end use of funds.
8.0 Evaluation of the Outcome and Lessons Learned
Two members of the Board of Trustees shall be elected to evaluate the outcome of the project and produce an impartial report covering achievements, value for money, failures, compiled feedback, and lessons learned. The report shall be discussed at the BOT meeting for reflection and further action.
Forms
- Form PA 01 — Project Application Form
- Form PP 02 — Quarterly Project Progress Reporting Form
- Form PDD 03 — Due Diligence Check Form
- Form PRA 04 — Risk Assessment Questionnaire