Finance and Operations
Teach For Armenia ’ s Finance and Operations Team manages our finances and works closely with different departments to keep the organization running smoothly . In 2021 , as the number of Student-Led Innovation Projects being implemented increased , the Finance and Operations Team expanded and systemized its processes and protocols for approving their budgets and disbursing the necessary funds . In 2021 , we approved and disbursed funds for 61 Student-Led Innovation Projects .
This year , the Finance and Operations Team also worked with a team of developers to design , build , and launch an organization-wide Enterprise Resource Planning ( ERP ) system . Through the online portal , department heads can make and receive approval for expense requests . The system has greatly improved Teach For Armenia ’ s workflow and integration between different departments and the Finance and Operations Team . It provides better data security , record-keeping capabilities , and total visibility of budget tracking processes .
As it does every year , the Team shepherded the entire organization through the budget planning process for the next fiscal year . We updated staff planning tools and templates to make the process more efficient and precise . For example , the 2022 planning template reflected the total amount required and a detailed calendarization of proposed spending . By providing one-on-one support to all departments , the Finance and Operations Team was able to submit the final fiscal year 2022 budget to the Teach For Armenia Board of Trustees by November 23 , 2021 .
Auditor ’ s opinion
As an organization that is committed to instilling leadership values in our students , we believe in modeling integrity , transparency , and accountability . Every year Teach For Armenia undergoes a rigorous financial audit , the results of which are published in our Annual Reports and made available to the public on our website . Over the past few years , we have partnered with Deloitte to conduct our audit .
Annual Report 2021
111