The Committee is responsible for developing, implementing and monitoring an effective resource mobilization and partnership strategy to maintain strategic partnerships and engagement with key stakeholders and recommend to board for approval. In addition, the committee is responsible for monitoring development and implementation of business plans and guiding on and monitoring financing for the business. The responsibilities and duties of the committee shall include;
Review the organization’s current strategic plan; work plans; project proposals, knowledge management products and funding model to better understand the needs and help position the institution for resource mobilization.
Make recommendations to the board concerning policies for revenue mobilization and partnerships.
Develop fundraising guidelines
Review existing partnership frameworks, tools, etc. to form the basis for identification of thematic areas, stakeholders, development partners for consideration in the organization strategy for partnerships and resource mobilization
Review strategies and programmes of current and potential TYC partners on their priorities and operational strategies in order to identify areas and modalities for further synergies, partnerships (including joint programs) and resource mobilization
Engage in budgeting and projection of financial needs and gaps
Identify resource mobilization and partnership opportunities and map strategic areas of focus
Prepare concept notes and proposals and contribute to preparation of partnership and funding agreements
Develop a plan to engage new partners among relevant stakeholders in an effort to mobilize resources.
Develop objectives for fundraising, methods, strategies and focus (private sector, public funding, donors, foundations).
Draft Partnership Agreements for approval by the board
Work with the other Committees in the organization in resource mobilization engagements to secure resources for TYC Activities
Build and manage relationships with potential funders, including but not limited to the Private Sector, Public Sector, Donors etc. with the aim of securing resources
Ensure all stakeholders receive appropriate and timely reports and updates on events and functions and use of resources provided to the organization by them
Develop a series of fundraising communication materials (print and digital) such as brochures, appeals, newsletters and annual reports to secure funding/raise the profile of the organization including website content
Other roles and responsibilities include:
Ensure that accurate and complete financial records are maintained
∙ Monitor income and expenditures against projections
∙ Review and recommend financial policies to the board, including ensuring adequate internal controls and maintaining financial records in accordance with standard accounting practices
Ensure that accurate, timely, and meaningful financial statements are prepared and presented to the board
∙ Present monthly financial statements to the board
Oversee budget preparation and financial planning
∙ Propose for board approval a budget that reflects the organization’s goals and board policies
∙ Ensure that the budget accurately reflects the needs, expenses, and revenue of the organization
Safeguard the organization’s assets
∙ Review proposed new funding for ongoing financial implications, recommending approval or disapproval to the board
∙ Ensure that the organization has the proper risk-management provisions in place
Help the full board understand the organization’s financial affairs
∙ Ensure that the board as a whole is well informed about the organization’s finances
∙ Educate the board about financial matters
Ensure compliance with state and other requirements related to the organization’s finances
∙ Ensure that organization maintains adequate insurance coverage