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Institute of Information Management (IIM)

Chapter Financial Policy

Financial Policy

1. Purpose

This Financial Policy establishes standardized guidelines for funding, expense approvals, and financial accountability across all IIM country chapters. The objective is to ensure transparency, sustainability, and consistency in financial management while supporting program delivery and global expansion.

2. Principles

All financial decisions across IIM chapters shall be guided by the following principles:
  • Accountability: All expenditures must be justified, approved, and documented.
  • Program-Driven Funding: Financial support is strictly tied to approved programs and activities.
  • Sustainability: Chapters are encouraged to generate revenue through memberships, training, and partnerships.
  • Central Control: IIM retains authority over all financial commitments and disbursements.

3. Funding Eligibility

IIM shall provide financial support ONLY for the following:

3.1 Approved Programs and Events

  • Conferences, workshops, seminars, and training sessions
  • Chapter launch events and official inductions
  • Approved stakeholder engagement meetings
IIM may collect, use, store, and transfer different kinds of Personal Information about members and customers, including prospective members. This Personal Information includes, but is not limited to:

3.2 Program Logistics

  • Venue costs (where applicable)
  • Event materials (branded banners, flyers approved by IIM)
  • Refreshments (strictly for approved in-person events)
  • Marketing and publicity (approved campaigns only)

3.3 Operational Support (Limited)

  • Temporary administrative support for approved programs
  • Communication tools (where centrally provisioned by IIM)

4. Non-Eligible Expenses

The following shall NOT be funded by IIM:
  • Personal equipment (e.g., laptops, tablets, phones)
  • General office setup costs (furniture, utilities, rent)
  • Unapproved marketing materials
  • Personal travel not linked to approved programs
  • Entertainment or miscellaneous expenses not tied to program outcomes

5. Funding Approval Process

Step 1: Proposal Submission

All funding requests must include:

  • Program title and objective
  • Date, location, and format (virtual/physical)
  • Expected outcomes (participants, revenue, partnerships)
  • Detailed budget breakdown

Step 2: Review & Approval 

  • Requests must be submitted at least 10 working days before the activity
  • Approval must be granted in writing by IIM management

Step 3: Disbursement 

  • Funds may be disbursed directly by IIM to vendors OR
  • Reimbursed upon submission of valid receipts

6. Expense Control & Limits

  • All expenses must be pre-approved
  • Any cost exceeding the approved budget requires additional authorization
  • Chapters must operate within agreed financial limits

7. Revenue Management

  • All revenues (membership, training, consultancy) shall be paid directly to IIM
  • Chapters shall not independently collect or retain funds unless expressly authorized
  • Commission-based engagements shall be governed by separate agreements

8. Reporting Requirements

Chapter Leads must provide:
  • Event Report: Within 5 working days after each activity
  • Financial Report: Including receipts and expense summary
  • Performance Report: Membership growth, partnerships, and engagement metrics

9. Compliance & Audit

  • IIM reserves the right to audit all chapter activities and financial records
  • Any misuse of funds may result in termination of engagement
  • All chapters must comply with applicable local laws and IIM policies

10. Exception Clause

Any exception to this policy must be:
  • Justified in writing
  • Approved by the International President or designated authority

11. Effective Date

This policy takes effect from: 1 January 2025

Approval

Under the IIM Global Executive Council
Download: Funding Request Form here