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Every so often, Ed, Ash or Jas do an online bank transfer to India, usually around £6000. It takes a few days for the money to travel through the ether before popping up again in India. The money is debited into RBKS’s Foreign Contributions bank account. RBKS are our partner charity and ‘project implimentors’, who we find to be very trustworth with our money. Once safely in RBKS’s account, our team in India can then withdraw money as it is needed. When the money runs low again, we send more money.
We decide how much money to spend using our budget. Our annual budget varies depending on how much we build, how many training and exposure trips we go on and other such factors.It is steadily going up as we add children and teachers (currently 140 and 10 respectively) and as the pound-rupee exchange rate drops!
Our team in India keep meticulous accounts, down to the last penny. They send a financial report every one, three and 12 months of all debit and credit, organised into different headers so we can see where we are spending our money. You can download our quarterly reports from this page. We also have an annual check from external accountants to make sure everything is in order. You can download our auditor’s report from this page, too.
Because we send our money to India in big chunks, and we have no out-goings in the UK, you’ll notice that our UK annual report has very little financial detail in it. The detail is all found in our Indian accounts.
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