At OAKS we make it a core part of our mission to offer complete transparency in all the work we do and to clearly demonstrate how the money donated is spent and used.
We have been a registered charity since 2007 (Charity No 1107800) and submit our return annually to be verified. Ninety five percent of all the money raised, 95p in every pound, goes directly to operate our primary school – financing staff wages and running costs inclusive of maintenance and facility improvement.
Money is sent monthly and is recorded:
1. Payment leaves UK Bank.
2. Receipt and exchange rate docket is signed by school bursar in Sierra Leone.
3. Wage sheet presented and signed by all staff on receipt of money.
4. Stamped receipts from Tax Department (NRA) and separate National Insurance Department (NASSIT) each month to show all due taxes and financial obligations are met.
made for capital projects have all the necessary receipts in Sierra Leone, which are duplicated and the paperwork is brought back to the UK after a verification visit.
The Parents Pay
Le 10,000 development fund charge each term as their contribution to their child’s education (Some £1.65 – which many struggle to find and we have some 12 bursaries).
is paid into school and each parent receives a receipt. The monies are deposited and recorded into the school community bank savings account. It is drawn out by the bursar on the headmaster’s recommendation for school stationary and sanitary products. All bank transactions require two signatories These receipts and payments are checked annually on Nic’s visit.
The 3 principal officers of the charity visit at least once a year- (with their own costs paid by themselves so as not to burden the charity financially).