SayPro Human Capital Finance Management Policies, Procedures, Processes, Templates, Documents and Forms SayProP205

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Document Code: SayProP205
Approved By: Neftaly Malatjie, Chief Executive Officer
Last Reviewed: 27 February 2025
Next Review Date: 27 July 2025

SayPro Table of Contents

1. Overview

The SayPro Human Capital Finance Management Policy outlines the processes, procedures, and systems involved in managing financial operations within SayPro’s Human Capital division. It provides a framework to ensure accurate, compliant, and efficient financial operations aligned with SayPro’s strategic goals.

2. Objectives

To establish clear SayPro financial guidelines and procedures within the SayPro Human Capital division.
To ensure SayPro transparency and accountability in budgeting, spending, and financial reporting.
To comply with all legal and regulatory requirements for financial management.
To safeguard SayPro’s assets and resources through effective financial controls.

3. Scope

This policy applies to:

SayPro Royal Committee
All SayPro Human Capital Employees
SayPro Human Capital Officers
SayPro Finance and Treasury
SayPro Contractors, Freelancers, and Consultants in SayPro Human Capital Projects

4. SayPro Key Finance Management Procedures

4.1 SayPro Budgeting

SayPro Annual Budget Planning: SayPro’s Human Capital and Finance division will prepare an Annual and Quarterly budget based on operational needs, with input from SayPro Royal Committee, SayPro Directors and SayPro Projects needs.
SayPro Approval Process: The budget must be approved through the following officials by the SayPro Royal Officer, SayPro Royal Manager, SayPro Royal Director, SayPro Royal Chief, SayPro Chief Financial Officer (SayProCFR) and SayPro Royal Chief Operations Officer, all SayPro Royal Committee and Neftaly Malatjie

4.2 SayPro Expenditure Control

SayPro Spending Limits: Spending authority is granted to SayPro Royal Chiefs and SayPro Human Capital Officers within pre-defined limits. Refer to SayPro Payment Procedure
SayPro Purchase Requisitions: All purchases and financial transactions must be accompanied by a SayPro Payment Requisition. Refer to SayPro Requisition Procedure
SayPro Approval Workflow: Payments that are regulated by Service Level Agreements, Memorandum of Understanding, Contracts signed in line with Public Finance Management Act they are to be authorised in this flow starting from the SayPro Royal Officer, SayPro Royal Manager, SayPro Royal Director, SayPro Royal Chief, SayPro Chief Operations Officer, all SayPro Royal Committee Members finally by Neftaly Malatjie. Refer to SayPro Approval Procedure

4.3 SayPro Payroll Management

SayPro Payroll Processing: SayPro Payroll is managed daily by the SayPro Human Capital Officer, ensuring all employees are compensated according to their contracts. Refer to SayPro Payroll Procedure
SayPro Tax Compliance: Deductions for taxes, benefits, and other statutory contributions must be handled in compliance with the local regulations. Refer to SayPro Taxation Procedure, SayPro UIF Procedure, SayPro PAYE Procedure

4.4 SayPro Financial Reporting

SayPro Monthly Reports: SayPro Finance Royal provides detailed reports on expenditures, budget adherence, and financial forecasts. Refer to SayPro Reporting Procedure
SayPro Annual Audits: Independent audits will be conducted annually to ensure compliance and transparency in financial management. Refer to SayPro Audit Procedure

5. SayPro Roles and Responsibilities

5.1 SayPro Chief Executive Officer (SayProCER)

Approves the SayPro annual Human Capital budget.
Ensures overall financial compliance for the organization.

5.2 SayPro Chief Financial Officer (SayProCFR) and SayPro Chief Operations Officer (SayProCOR)

Oversees financial operations for the SayPro Human Capital division.
Approves major expenditures, procurement, and budget allocations.

5.3 SayPro Chief Human Capital Officer (SayProCHCR)

Supervises all HC-related spending and financial decisions.
Ensures proper SayPro resource allocation within the division.

5.4 SayPro Royal Committee (SayProRoyal-1)

Responsible for oversight of financial operations within respective areas.
Approve annual, quarterly and day-to-day expenses and submit financial reports.

5.5 SayPro Human Capital Managers and Directors

Ensure compliance with budgetary constraints and expenditure tracking.
Process payroll and ensure accurate expense records.

5.6 SayPro Human Capital Officers

Provides financial support for the Human Capital division.
Prepares financial Requisitions, Claim Forms, Payment Requests.

6. SayPro Finance Management Processes

6.1 SayPro Payment Authorization

Any payment requests within the Human Capital division must be accompanied by supporting SayPro documentation (e.g., Requisitions, Invoices, Claim Forms, Receipts and Tax Invoices).
Payments must be authorized by the SayPro Royal Officer, SayPro Royal Manager, SayPro Royal Director, SayPro Royal Chief of the respective unit or SayProCHCR before processing.

6.2 SayPro Expense Reimbursement

Employees and Human Capital Officers are entitled to claim for approved expenses (e.g., travel, supplies) incurred during official duties. Refer to SayPro Claims Procedure and SayPro Requisition Procedure
Claims must be submitted within 30 days of the expense, with receipts provided for all reimbursements.

6.3 SayPro Budget Amendments

Any changes to the annual budget require written approval from the SayProCFR and must be recorded for audit purposes. Refer to SayPro Budget Procedure
Amendments must be justified by the SayPro Royal Officer, SayPro Royal Manager and SayPro Royal Directorwith clear rationale for the change.

7. SayPro Templates and Documents

SayPro Purchase Requisition Form (SayProF205-01)
SayPro Expense Reimbursement Form (SayProF205-02)
SayPro Payroll Approval Form (SayProF205-03)
SayPro Financial Report Template (SayProF205-04)
SayPro Budget Proposal Template (SayProF205-05)

8. SayPro Compliance and Review

8.1 SayPro Compliance

All financial activities within Human Capital must comply with local financial regulations and SayPro’s internal policies.
Financial transactions should be recorded and backed up with appropriate supporting documentation for accountability.

8.2 SayPro Review

This policy will be reviewed every 6 months and as per the need by the SayProCFR and SayProCHCR to ensure alignment with the evolving needs of the Human Capital division.
Any amendments to this policy must be formally approved by the SayProCER.

9. SayPro FAQs

Q1: What happens if the budget is exceeded?

A: If the budget is exceeded, the SayPro Royal Chief must submit a report to the SayProCFR , providing justification and proposing corrective actions.

Q2: How is payroll calculated?

A: Payroll is based on employee contracts, including any approved overtime, bonuses, or deductions. The SayPro Human Capital Officer SayProCHCR ensures accuracy in payroll processing.

Q3: Can I submit a reimbursement claim without a receipt?

A: No, all reimbursement claims require an original receipt as proof of the expense. Claims without receipts will be denied.

Approved By:
Neftaly Malatjie
Chief Executive Officer