Safeguarding Your Money
- 4 January 2017
- Posted by: CDC
- Category: News,
We understand it is important for you to know that the money received by us through various channels is used in a careful and governed manner. We receive funds through partial subvention from the Social Welfare Department (SWD), charitable donations, as well as fees from families.
Our policies, procedures, services delivered, performance and use of public funds are governed by and comply with the:
- Memorandum and Articles of Association for the CDC
- SWD Funding and Services agreement (FSA)
- SWD Best Practice Manual (BPM)
- SWD Lump Sum Grant Manual
- SWD Lotteries Fund Manual
- SWD Guide on Best Practices for Charitable Fundraising
- CDC’s 16 Service Quality Standards (SQS)
We report to the SWD bi-annually on our output standards in the FSA, annually on our adherence to the BPM and are reviewed every three years on our compliance with all 16 SQS.
Our financial statements are produced annually by external auditors along with an additional Audited Financial Report documenting the SWD funding income and expenditure. We receive a financial audit by the SWD every three years to check all of our accounting procedures and ensure compliance.
Read our annual report to learn more about our activities, achievements and financial position.