University of Rwanda,Research directorate

Financial Guidelines for Research

1. Objectives.
The main objective of financial guidelines is to make effective and efficient use of resources in order to achieve objectives and fulfill commitments to stakeholders, beneficiaries and donors.

2. Expenditures Procedures
• The expenditure items shall be clearly indicated in the approved budget under planned activities;
• Payments to be done will be authorized by Principal investigator of research grants (ref: requisition form), and UR Colleges accountant will ensure that the request for payment is fully supported by:
 Invoices/receipt ,
 Three Proforma invoice for amount less than or equal to two million,
 Contract for data collectors or any others activities (to be signed between Principal Investigator of research grant and contracting party);
 Attendance list signed for participants in workshop (if any);
 Approved budget.
• Expenditure Commitments are done with respect of the process for awarding UR tenders if it is above two million Rwandan francs;
• Expenditures such as: lap top, Printer, Office furniture's will be channeled to UR tendering process and should be identified and submitted to UR Procurement through Research Coordination unit before financial year so that can be included in UR procurement plan;
• The expenditure must be in accordance with research grant work plan;
• Expenditures incurred and not aligned with approved budget is considered as ineligible.
• Laboratory consumables and others tools for research less than two million Rwandan francs can be purchased else where

3. Reporting
Financial reporting is the process of preparing and distributing financial information to users of such information in various forms (financial statements).
Its objectives are to present useful information to financial statement so that proper decisions can be made.
• Financial reporting of expenditure incurred during research grant must be reported in accordance with template issued by UR Research and post graduate unit;
• Financial statement of expenditures incurred during a quarterly or completed research grant period must be based on actual time spent and actual costs, and be compliant with the approved budget for the period reported on;
• The cost included in the statement of expenditures must actually been incurred for research grant activities and have been paid;
• Bank statement should be attached to financial reporting template;