- Category: Imagine Institute
- Published: Wednesday, 09 April 2014 11:43
Utilization of funds
2012 marks the first time Imagine is publishing an annual Statement of Utilization of Funds. This statement reports on the application of funding by type of expenditure. These expenditures are called “social missions”. Imagine’s social missions are research, innovative care, education and technology transfer.
In 2012, our KPMG external auditor certified a €245,243 Statement of Utilization of Funds.
The Board of Trustees determined that resources raised through public fundraising should be allocated in the following order of priority, unless otherwise specifically earmarked by the donor :
Management of funds
Imagine has made financial transparency a management principle, with the aim of being able to account for the funds entrusted to it at any given moment.
- All of our accounts are accessible on demand.
- An annual report of the use of funds granted by the patron is published.
- The foundation is audited every year. Its accounts were audited and approved, with no reservations in 2012, by the auditors KPMG.
- Edouard Couty, Honorary Senior Counselor at the Court of Audit, acts as the foundation's Treasurer on the Board.
- The finance committee of the Board of Trustees meets once a quarter to check the budget and provides continual financial rigor.