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    Name: Xolisa Surname: Sikembula 65173104 UNIQUE NUMBER: 803495 Due Date: 28 August

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    Xolisa
    The document provides information about setting up a Paralegal Advice Centre, including: [1] Start-up costs that must be incurred include securing premises, installing phones, and purchasing furniture and office equipment. Income sources must also be identified like core funding, grants, donations, fundraising, and funding in kind such as free or subsidized rent. [2] An audit would review money received and spent, provide income and expenditure figures, review assets, and advise on improving financial systems and account keeping. [3] Registering as a non-profit organization has advantages like greater accountability, being able to open a bank account, apply for lottery or government funding, and it requires adopting binding management

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    Name: Xolisa Surname: Sikembula 65173104 UNIQUE NUMBER: 803495 Due Date: 28 August

    Uploaded by

    Xolisa
    97 views2 pages
    The document provides information about setting up a Paralegal Advice Centre, including: [1] Start-up costs that must be incurred include securing premises, installing phones, and purchasing furniture and office equipment. Income sources must also be identified like core funding, grants, donations, fundraising, and funding in kind such as free or subsidized rent. [2] An audit would review money received and spent, provide income and expenditure figures, review assets, and advise on improving financial systems and account keeping. [3] Registering as a non-profit organization has advantages like greater accountability, being able to open a bank account, apply for lottery or government funding, and it requires adopting binding management

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    PAC

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    The document provides information about setting up a Paralegal Advice Centre, including: [1] Start-up costs that must be incurred include securing premises, installing phones, and purchasing furniture and office equipment. Income sources must also be identified like core funding, grants, donations, fundraising, and funding in kind such as free or subsidized rent. [2] An audit would review money received and spent, provide income and expenditure figures, review assets, and advise on improving financial systems and account keeping. [3] Registering as a non-profit organization has advantages like greater accountability, being able to open a bank account, apply for lottery or government funding, and it requires adopting binding management

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    97 views2 pages

    Name: Xolisa Surname: Sikembula 65173104 UNIQUE NUMBER: 803495 Due Date: 28 August

    Uploaded by

    Xolisa
    The document provides information about setting up a Paralegal Advice Centre, including: [1] Start-up costs that must be incurred include securing premises, installing phones, and purchasing furniture and office equipment. Income sources must also be identified like core funding, grants, donations, fundraising, and funding in kind such as free or subsidized rent. [2] An audit would review money received and spent, provide income and expenditure figures, review assets, and advise on improving financial systems and account keeping. [3] Registering as a non-profit organization has advantages like greater accountability, being able to open a bank account, apply for lottery or government funding, and it requires adopting binding management

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    NAME: XOLISA

    SURNAME: SIKEMBULA

    STUDENT NUMBER: 65173104

    UNIQUE NUMBER: 803495

    DUE DATE: 28 AUGUST

    ASSIGNMENT 01

    QUESTION 1

    ● The Alexander District Paralegal Advice Centre will have to know their
    ● Start-up costs have to be incurred before the Centre will be able to start
    operating. Start-up costs include costs incurred to secure premises for the
    Centre, to have telephones installed and to purchase furniture and office
    equipment such as computers, a photocopier and a printer.
    ● Income: they must identify all possible sources of income for the particular
    plan that will be implemented with the budget that is being complied.
    Income can be derived from a variety of sources, including core funding,
    grants, project grants, events grants and donations or contributions from
    organizations or individuals, and through fundraising. A fundraising
    strategy should target wide variety of potential sources of funding.
    Funding can consist of monetary contributions or funding in kind.
    Examples of funding in kind:
    ● Free or subsided rentals by the owner of the premises to be occupied, and
    ● Donations of Centre furniture and equipment

    1.2 An audit will


    - Review what money was received and how it was spent
    - Provide the final figures of income and expenditure of the final year
    - Review the value of the organization’s assets
    - Provide advice about improving the organization’s financial systems
    - Indicate whether the organization’s financial management systems and
    account keeping systems are appropriate

    QUESTION 2
    2.1 It will be an advantage to register as Non-Profit Organisation.
    o Registration as an NPO compels a paralegal advice centre to adopt binding
    rules governing the management and running of the organisation.
    o Results in greater accountability to the advice centre’s stakeholders, including
    the community it serves, funders and the government.
    o The Financial Intelligence Centre Act 38 of 2001 has made NPO registration
    prerequisite for voluntary associations to open a banking account.
    o The Lotteries Act 57 of 1997 requires that NPO’s wishing to apply for National
    Lottery funding is registered in terms of the NPO Act.
    o In terms of the Public Finance Management Act 1of 1999 and the Public
    Finance Amendment Act 29 of 1999, only those organisations that are
    registered as NPO’s can apply for government funding.

    2.2 Voluntary association will best suit the Paralegal Advice Centre. It is created by
    three or more people who enter into an agreement to form an association for the
    purpose of meeting a non-profit objective. In terms of common law, the agreement
    may be concluded orally. However, in order to avoid future disputes, it is advisable
    that the agreement be put in writing. In the case of a voluntary association, the
    constitution must be registered; this requirement does not apply to the other forms of
    entities/structures.

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