Financial Policy<\/span><\/strong><\/p><\/h2>\n\n\n IIM shall provide financial support ONLY for the following: 3.1 Approved Programs and Events<\/strong><\/p>\n\n\n\nConferences, workshops, seminars, and training sessions\n\n\nChapter launch events and official inductions\n\n\nApproved stakeholder engagement meetings\n\n\n\nIIM 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:\n\n\n 3.2 Program Logistics<\/strong><\/p>\n\n\n\nVenue costs (where applicable)\n\n\nEvent materials (branded banners, flyers approved by IIM)\n\n\nRefreshments (strictly for approved in-person events)\n\n\nMarketing and publicity (approved campaigns only)\n\n\n\n 3.3 Operational Support (Limited)<\/strong><\/p>\n\n\n\nTemporary administrative support for approved programs\n\n\nCommunication tools (where centrally provisioned by IIM)\n\n\n\n Step 1: Proposal Submission<\/strong><\/p>\n\n\n All funding requests must include: Step 2: Review & Approval\u00a0<\/strong><\/p>\n\n\n\nRequests must be submitted at least 10 working days<\/b> before the activity\n\n\nApproval must be granted in writing by IIM management\n\n\n\n Step 3: Disbursement\u00a0<\/strong><\/p>\n\n\n\nFunds may be disbursed directly by IIM to vendors OR\n\n\nReimbursed upon submission of valid receipts\n\n\n\n1. Purpose<\/strong><\/h3>\n\n\n\nThis 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.\n\n
2. Principles<\/strong><\/p><\/h3>\n\n\nAll financial decisions across IIM chapters shall be guided by the following principles:\n\n\n\nAccountability:<\/b> All expenditures must be justified, approved, and documented.\n\n\nProgram-Driven Funding:<\/b> Financial support is strictly tied to approved programs and activities.\n\nSustainability: <\/strong>Chapters are encouraged to generate revenue through memberships, training, and partnerships.\n\nCentral Control:<\/b> IIM retains authority over all financial commitments and disbursements.\n\n\n\n
3. Funding Eligibility<\/strong><\/p><\/h3>\n\n\n
<\/p>\n\n\n4. Non-Eligible Expenses<\/strong><\/p><\/h3>\n\n\nThe following shall NOT be funded by IIM:\n\n\n\nPersonal equipment (e.g., laptops, tablets, phones)\n\n\nGeneral office setup costs (furniture, utilities, rent)\n\n\nUnapproved marketing materials\n\n\nPersonal travel not linked to approved programs\n\n\nEntertainment or miscellaneous expenses not tied to program outcomes\n\n\n\n
5. Funding Approval Process<\/strong><\/p><\/h3>\n\n\n
<\/p>\n\n\n\nProgram title and objective\n\n\nDate, location, and format (virtual\/physical)\n\n\nExpected outcomes (participants, revenue, partnerships)\n\n\nDetailed budget breakdown\n\n\n\n6. Expense Control & Limits<\/strong><\/p><\/h3>\n\n\n\nAll expenses must be pre-approved\n\n\nAny cost exceeding the approved budget requires additional authorization\n\n\nChapters must operate within agreed financial limits\n\n\n\n
7. Revenue Management<\/strong><\/p><\/h3>\n\n\n\nAll revenues (membership, training, consultancy) shall be paid directly to IIM\n\n\nChapters shall not independently collect or retain funds unless expressly authorized\n\n\nCommission-based engagements shall be governed by separate agreements\n\n\n\n
8. Reporting Requirements<\/strong><\/p><\/h3>\n\n\nChapter Leads must provide:\n\n\n\nEvent Report:<\/b> Within 5 working days after each activity\n\n\nFinancial Report:<\/b> Including receipts and expense summary\n\n\nPerformance Report:<\/b> Membership growth, partnerships, and engagement metrics\n\n\n\n
9. Compliance & Audit<\/strong><\/p><\/h3>\n\n\n\nIIM reserves the right to audit all chapter activities and financial records\n\n\nAny misuse of funds may result in termination of engagement\n\n\nAll chapters must comply with applicable local laws and IIM policies\n\n\n\n
10. Exception Clause<\/strong><\/h3>\n\n\nAny exception to this policy must be:\n\n\n\nJustified in writing\n\n\nApproved by the International President or designated authority\n\n\n\n
11. Effective Date<\/strong><\/h3>\n\n\nThis policy takes effect from: 1 January 2025\n\n\n
Approval<\/strong><\/h3>\n\n\nUnder the IIM Global Executive Council\n\n\nDownload:<\/strong> Funding Request Form here<\/strong><\/a>\n\n\n\n\n\n\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","footnotes":""},"class_list":["post-4871","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/pages\/4871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/comments?post=4871"}],"version-history":[{"count":31,"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/pages\/4871\/revisions"}],"predecessor-version":[{"id":4905,"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/pages\/4871\/revisions\/4905"}],"wp:attachment":[{"href":"https:\/\/iim-africa.org\/ng\/wp-json\/wp\/v2\/media?parent=4871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}