TERMS OF REFERENCE FOR DEVELOPMENT OF FINANCIAL MANAGEMENT POLICY GUIDELINES FOR THE LIMPOPO WATERCOURSE COMMISSION (LIMCOM)
Introduction
The Limpopo River Basin is shared by four SADC Member States, namely the Republics of Botswana, Mozambique, South Africa and Zimbabwe. The commitment of the riparian states to manage the basin water resources in a collaborative manner dates back to 1986, when the “Limpopo Basin Permanent Technical Committee” was jointly established. In 2003, this cooperation framework was fostered through the multilateral agreement that established the Limpopo Watercourse Commission (LIMCOM),with the objective of “advising the Contracting Parties on the uses of the Limpopo, its tributaries and its waters for purposes and measures of protection, preservation and management of the Limpopo” (LIMCOM agreement 2003).
Background
With the support of Chemonics International Resilient Waters Programme and funding assistance from USAID, LIMCOM has identified the need to develop a Financial Management Policy Guidelines document, to govern the effective management of finances within the organization. Possessing and enforcing financial management policies and guidelines is essential to ensure responsible and accountable financing, towards the sustainability and successful performance of the organization. It is critical for financial management decisions to be made in line with sound financial management guidelines as per internationally recognized standards. In addition, where financial management policies are not in place or are inadequately implemented, levels of transparency and credibility of financial decisions tend to decline and ultimately, degrading the organization’s reputational governance values as well as expose the organization to fraudulent activities.
Developing the financial management and policies for LIMCOM, therefore, will instill practices of responsible and accountable decision making, contributing to the financial sustainability of the organization.
Objective of Assignment
The objective of this assignment is to develop the LIMCOM Financial management policies and guidelines. The Financial management policies document provides a set of rules, regulations, procedures, and responsibilities to assist LIMCOM to consistently handle financial resources in its care, while making provision for responsible tracking and accounting of funds (and other valuable resources) in its care.
The financial management policy and guidelines document will guide LIMCOM’s process of handling financial resources in an accountable, transparent manner as well as promote prudent financial decision making.
Eligibility Criteria
The selection of the successful consultant/consultancy will be guided by the following criteria.
At least 5 years’ experience in financial management and development finance.
Understand financial management principles, audit processes and principles, budgeting, as well as important financial processes including accounts, pay roll, invoicing, receipting, and purchasing among other complementary financial processes.
Sound knowledge of International Financial Reporting Standards and International Auditing Standards
An understanding of the applicable tax legislation and Public Finance Management Act across Southern Africa region
Have knowledge of funding streams for river basin organisations (RBOs) as well as options for ensuring financial sustainability
A solid background in fund raising, financing strategies and dealing with donor agencies.
Have demonstrated capacity (at least 3 projects) based on similar assignments conducted in the past (preferably within the SADC region).
An understanding of the water sector financing, funding principles and guidelines
Experience in dealing with donor agencies will be highly advantageous.
Expected Duration
The finalized financial management policy guidelines are expected to be completed by the consultancy within 9 weeks from the date of signing the contract. The level of effort is expected to be 30 days.
Deliverables
The following deliverables are expected from this project:
Inception Report – within three weeks of project inception
Draft Financial Management policy – within 7 weeks of project inception
Finalized Financial Management policy – within 10 weeks of project inception
Up to two workshops with LIMSEC and Member State representatives are to be held during the course of the assignment.
Proposal Submissions
The proposal should be submitted electronically to Mr. Sergio Sitoe, at [email protected], no later than close of business on the 01 of May 2020.
The proposal submission should include the technical and financial proposal(s):
A Technical proposal with:
Proposed approach and methodology
CV and summary of qualifications
demonstrated similar experience summary
Timelines (workplan)
Financial Proposal with Costs (including travel requirements)