The Institute of Chartered Accountants
of Sri Lanka

 On completion of the project, a summary report should be prepared giving following details.

• Receipts & Payments account for the entire project period.
• A detailed break up of fixed assets remaining in the possession of the organisation
• A programme activity report for the entire project period

 The summary report also requires External Auditor’s certification.

 On completion of the project if there is excess money following procedure is suggested:

• Funds received for general purposes can be donated to another organisation engaged in Tsunami relief activities.
• One of the following alternatives is available for specific funds received.

 1) If the contract stipulates the course of action to be followed for excess money, same has to be followed.

 2) If the contract is silent on excess money at the end of the project, such money should be returned to all the donors, proportionately.

 3) However, if the donors are not willing to accept excess money, same can be donated to another organisation engaged in Tsunami relief activities.