Attendees : Raga, Sowmya, Ranga, and Mohit
Girirajpura school - 2016 Budget followup and Vote (Mohit)
- Action items from last meeting
- The budget has increased from Rs. 8.24 lakhs to Rs. 16.42 lakhs. Asha Austin may not be able to support the entire amount since we are planning to add another project this year.
- Mohit discussed this with Sachin from GSK. They moved from individual budgeting to global budget to allow for better budgeting and accounting. Last year, school's expenses were Rs. 15 lakhs, while Asha supported Rs. 8.24 lakhs - the budget amount that was presented to them. Hence the reason to go to global budgeting so that common expenses are also funded to run the organization. They can drop Vistaar programme and construction for new room. They would really like us to support the remaining amount Rs. 1,158,575.
- Since our original commitment was for 3 years with min amount of $6k, we need to work with GSK in getting another organization involved in Girirajpura school so that another organization can eventually take up support of the school.
- Mohit has communicated this to Sachin that we would not be able to expand with the growing needs of the school since we are smaller Chapter.
- We also need to understand Asha SV's plan. Maybe they could help with additional amount.
- Mohit spoke to Murali. Asha SV's plan will be clear in November.
- Look into proposing GSK in WAH program this year to get support for additional amount
- Mohit does not have bandwidth to do it this year.
- On Fund utilization :
- The reason March salary showed double amount was they gave April salary in March as well too for accounting reasons.
- Variation in salary happens because teachers are given a small incentive to stay in the village overnight. So the number varies depending on the nights they have spent in the village.
- They will address their estimates so that it is closer to utilization in future.
- GSK's audit report is available here. Mohit will upload it once document upload server is functional.
- Given our plan of taking up another project, we may not be able to support the amount requested by GSK till we clearly know how much remaining funds do we have end of this year. It depends on the third project we pick up and on how many funds do we send to Mathru foundation.
- We would like to postpone that decision to 2nd disbursal in November. By then we will have a clear picture if we can support the entire budget. For now, we can send a larger share as if we were supporting the entire budget amount.
- Updated Budget spreadsheet is here. Mohit will convert to PDF and upload it once document upload server is functional.
Vote : Approve support for Rs.9,89,825, which includes carry over of Rs. 1,54,343 from last year. Funds approved to disburse this year is Rs. 835,482. First disbursal to be Rs.5,02,116. Additional amount of Rs1,68,750 will be discussed in 2nd disbursement in Nov. 2016 based on Chapter Financials. Note : This is one time increased support. Next year we can support Rs. 824000. For remaining budget, we would like another project partner involved.
Yes : 4
No : 0
Abstain : 0
- Why does GSK not have a large Corpus fund ?
- We would like to have details on each position and name of staff documented and uploaded on the website.
- We would like to see reports from Consultant visits and Documentation created.
Siddamma & Cuddalore update
Sowmya visited Siddamma and spoke to Siddamma. <Sowmya to add details here>