GoTeach Finance Introduction
10.1 What is the budget?
The GoTeach budget is the total amount of authorized financial resources allocated to the GoTeach program for one year. It constitutes the necessary funds for planning, implementing and evaluating the GoTeach program. It includes all direct and overhead costs required to carry out the program’s goals and objectives as well as all charitable donations to our GoTeach partners. Simply speaking, the budget is a spending plan that defines the maximum amount of money, works costs and resources available for the GoTeach program in one calendar year.
The Regional Budget is the sum of all planned costs for all national partnerships in a region managed by a Regional GoTeach Manager.
The Activation Budget is the average available budget for all anticipated costs for the implementation of GoTeach activities on country level. Per year, the average activation budget per country is €5,000. Activation budgets are managed by the regional GoTeach Manager in order to make sure that every scheduled task or activity is performed with necessary funding.
10.2 Where do funds come from?
The budget responsibility is organized hierarchically. The GoTeach budget originates from the corporate budget of the Chairman of the Executive Board. The essential basis for the GoTeach budget are the contracts with our partners Teach For All and SOS Children’s Villages.
Since the responsibility for implementing the partnerships lies with the regions and countries and the activation budget is only intended to partially finance the partnership activities, additional human and financial resources are welcome to complement budgets especially on country level.
10.3 Budget process and requirements
- Head of GoTeach global team informs GoTeach Managers when the money has been transferred.
- DHL local who manages the budget for each region sends a confirmation to GoTeach Manager of the arrival of the money as soon as the bank transfer is received.
- America: DHL Express Central South America, based in Costa Rica
- Asia Pacific: DHL Express Singapore
- Africa: DHL Express Madagascar
- January - February: Each country proposes an action plan with the budget for each activity for validation with each GoTeach Manager of the regions.
- The budget is to be presented in local currency according to the "action plan" model.
10.4 Invoice and reimbursement process with templates
- Expenses to carry out GoTeach activities should be advanced by DHL.
- All receipts or invoices should be dated, stamped and/or signed and not contain scribbles.
- Refund request must be validated by GoTeach Managers after verification of invoices and receipts.
- Local DHL sends an invoice with all receipts or invoices to the GoTeach Manager and GoTeach Coordinator for verification.
- After verification and validation of invoices and receipts by the GoTeach Manager and GoTeach Coordinator, the GoTeach Manager sends the invoices and receipts to the local DHL that manages the budget for each region for reimbursement.
- Local DHL sends a confirmation email to the GoTeach Manager upon receipt of the transfer.
- Reimbursement can be made monthly, quarterly, semi-annually or annually depending on the organization and process in each region and following the template of each region.
- Reimbursement of program expenses must be made within 2 months after the reception of debit note/invoice.
Debit note template
10.5 Financial Statement process
- GoTeach Managers and GoTeach Coordinators provide a financial statement of each region's expenses following the template.
- GoTeach Managers send the financial statement to DPDHL Group during the 1st quarter of the next year.
Financial statement template
| Chapter lead | Linda Rasamoeliniaina, Faneva Raharimanantsoa |
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