1. Purpose of the Policy

The purpose of this Financial Management Policy is to ensure that all funds, donations, grants, sponsorships, CSR support, membership contributions and other receipts of Veterans India are managed with discipline, integrity, transparency and accountability.

This policy supports the proper use of financial resources for approved objectives, programmes, initiatives and administrative requirements of the organisation.

• To ensure transparent financial practices
• To maintain proper accounting and documentation
• To prevent misuse, leakage or unauthorised expenditure
• To ensure funds are used for approved organisational objectives
• To strengthen donor, member, partner and public trust
• To support audit, reporting and legal compliance

2. Scope of the Policy

This policy applies to all financial transactions and financial decisions related to Veterans India, including but not limited to:

• Donations and voluntary contributions
• Membership and VPRF-related contributions
• CSR support and project grants
• Sponsorships and institutional support
• Event income and programme support
• Administrative expenses
• Programme and project expenses
• Banking, accounting and audit-related transactions
• Payments made to vendors, service providers and professionals

3. Financial Principles

Veterans India follows the following financial principles:

• Transparency: Financial records should be clear, traceable and properly documented.
• Accountability: Every financial decision should have responsible approval and supporting record.
• Integrity: Funds should be used honestly and only for lawful and approved purposes.
• Efficiency: Resources should be used carefully to create maximum public and national impact.
• Compliance: Financial practices should follow applicable laws, accounting standards and internal guidelines.
• Mission Alignment: Expenditure should support Veterans India’s patriotic, social and nation-building objectives.

4. Sources of Funds

Veterans India may receive funds from lawful and ethical sources, subject to internal approval and applicable legal compliance.

• Individual donations
• Membership contributions
• VPRF contributions
• CSR funds
• Corporate sponsorships
• Institutional support
• Event sponsorships
• Grants and project-based support
• In-kind support converted into programme value, wherever applicable
• Other lawful sources approved by the competent authority

5. Bank Account & Receipt of Funds

All financial receipts should preferably be routed through official bank accounts, authorised payment gateways or other traceable official payment modes.

• Funds should be received only in the official account of Veterans India
• Personal accounts should not be used for organisational donations or programme funds
• Cash transactions should be avoided as far as possible
• Every receipt should be supported by proper transaction proof
• Receipt or acknowledgement may be issued after payment verification
• Donor details should be recorded as per organisational and legal requirements

6. Budgeting & Planning

Veterans India may prepare budgets for major programmes, campaigns, projects, events and administrative functions to ensure planned and disciplined expenditure.

• Programme-wise budget estimation
• Expected source of funds
• Estimated expenditure heads
• Approval from competent authority
• Monitoring of expenditure against budget
• Revision of budget where required

Budgeting helps ensure that activities are financially viable, properly planned and aligned with the organisation’s mission.

7. Approval of Expenditure

Expenditure should be made only for approved organisational objectives, activities, programmes, campaigns, events, projects or administrative requirements.

• All major expenses should be approved by authorised office bearers or competent authority
• Expenses should be supported by bills, invoices, vouchers or written records
• Emergency expenses may be approved as per urgency and later documented
• Expenses should be reasonable and mission-oriented
• Personal expenses should not be charged to organisational funds unless specifically approved for official work

8. Permitted Use of Funds

Funds may be utilised for activities and expenses aligned with the objectives of Veterans India.

• Veterans welfare and support activities
• VPRF awareness, registration, training and mobilisation
• Sankalp and Rashtra Seva Sankalp activities
• Patriotic Run and national campaigns
• Pride of Nation Awards and institutional activities
• HEI partnerships, student engagement and youth leadership programmes
• CSR-aligned activities and public welfare projects
• Health, education, environment, disaster response and community service initiatives
• Website, software, data management and digital communication
• Printing, media, documentation, photography and videography
• Office, administration, coordination, logistics and professional services
• Audit, accounting, compliance and legal documentation

9. Restricted or Prohibited Use of Funds

Veterans India funds should not be used for unlawful, unethical, personal, political or unauthorised purposes.

• Personal benefit of any individual without official approval
• Political campaign, party promotion or partisan activity
• Any activity against the apolitical character of Veterans India
• Unlawful payment, bribe, commission or kickback
• Unapproved cash withdrawal or unexplained expenditure
• Activities that damage the reputation or mission of Veterans India
• Expenses not supported by proper documentation, unless approved under exceptional circumstances

10. Procurement & Vendor Payments

Procurement of goods and services should be done in a fair, transparent and need-based manner.

• Purchase should be linked to approved activity or organisational requirement
• Reasonable market comparison may be done for major purchases
• Invoices or bills should be collected from vendors wherever possible
• Payments should preferably be made through bank transfer or traceable mode
• Conflict of interest should be disclosed where applicable
• Quality, cost and reliability should be considered before vendor selection

11. Cash Management

Cash handling should be limited and controlled. The organisation should prefer digital, banking and traceable transactions.

• Cash should be used only where digital or banking payment is not practical
• Cash receipts and payments should be properly recorded
• Cash expenses should be supported by vouchers, bills or internal approval
• Cash balance, if maintained, should be periodically verified
• Large cash transactions should be avoided

12. Accounting & Record Keeping

Veterans India shall maintain financial records for receipts, payments, donor details, project expenses, administrative expenses and other financial transactions.

• Receipt records
• Payment vouchers
• Bank statements
• Donation records
• CSR and sponsorship records
• Invoices and bills
• Project-wise expenditure details
• Financial statements and audit reports
• Supporting documents for compliance and verification

Records should be preserved as per organisational requirements and applicable legal provisions.

13. Financial Reporting

Financial reporting may be done periodically for internal review, governance, donor communication, CSR reporting, audit and legal compliance.

• Internal income and expenditure summaries
• Project-wise fund utilisation reports
• CSR or sponsor-specific reporting
• Annual financial statements
• Audit reports, where applicable
• Activity reports linked with financial support

14. Audit & Review

Veterans India may conduct internal review and external audit of financial records as required under law, organisational policy or donor/CSR requirements.

• Review of receipts and payments
• Verification of bank records
• Checking of bills, vouchers and approvals
• Review of project-wise utilisation
• Compliance with legal and statutory requirements
• Correction of errors or gaps identified during review

15. CSR & Project Fund Management

CSR and project-specific funds shall be used for the purpose for which they are approved, subject to proposal, agreement, work order or donor communication.

• Project objectives should be clearly defined
• Project budget should be recorded
• Utilisation should be linked with approved activities
• Reports should be prepared as required
• Unused or unspent funds, if any, should be handled as per agreement or applicable rules
• CSR partners may be provided activity reports, photographs and utilisation details

16. Conflict of Interest

Any office bearer, volunteer, committee member or authorised representative involved in financial decision-making should disclose any conflict of interest.

• Personal interest in vendor or service provider
• Family or business relationship with vendor
• Personal benefit from procurement or payment decision
• Any situation that may affect impartial financial decision-making

The competent authority may decide whether the concerned person should participate in that financial decision.

17. Fraud Prevention & Misuse Control

Veterans India does not tolerate fraud, financial misconduct, unauthorised collection, misappropriation or misuse of organisational funds.

• No person should collect funds without authorisation
• No personal bank account should be used for official donation collection
• False bills, inflated bills or fake expenses are prohibited
• Any suspected misuse should be reported to the competent authority
• Appropriate action may be taken in case of financial irregularity

18. Roles & Responsibilities

Financial management is a shared responsibility of authorised office bearers, finance team, programme team and approved representatives.

• Authorised Leadership: Approval, supervision and strategic financial decisions
• Finance / Accounts Team: Accounting, documentation, reporting and coordination with auditors
• Programme Team: Budget request, activity execution and expense documentation
• State / District Teams: Proper use and reporting of funds received for local activities
• Volunteers / Coordinators: Submit correct records, bills and activity details where applicable

19. Financial Transparency & Public Trust

Veterans India is committed to maintaining public trust through responsible financial governance and transparent use of resources.

20. Contact for Financial Queries

For financial, donation, receipt, CSR, sponsorship or fund utilisation-related queries, donors and stakeholders may contact Veterans India through official communication channels.

• Email: info@veteransindia.com
• Website: www.veteransindia.com
• Purpose: Financial query, receipt request, CSR support, sponsorship, donation clarification and project reporting

21. Policy Review & Update

Veterans India may review, modify or update this Financial Management Policy from time to time based on organisational needs, financial practices, audit suggestions, legal requirements or governance decisions.

The updated policy shall be effective from the date of publication on the official website.