| Financial Management
The Mali Service Center (MSC) provides financial management and disbursement assistance to its clients through funds domiciled with the MSC and provided in the form of an advance for various projects. The MSC tracks advance accounts, ensuring that all funds advanced are accounted for with valid, and appropriate receipts. While the receipt approval process varies by project, once they are approved, the MSC then categorizes and codes the expenses.
For many research institutions, the MSC provides detailed financial analysis to give program decision makers access to accurate information on their expenditures. Clients supply the MSC with budget information on their programs and the MSC tracks their spending in detail, providing clients with cash flow analysis, general ledger information, balance sheets, and analysis of expenditures versus budget on a monthly basis.
The MSC provides accounts coding for monthly project expenses, including salaries and expenditures for procurement, services rendered, and other project-related spending. After coding, the MSC prepares and transmits a monthly invoice to the respective funding institution/client. Once the invoice has been approved and processed, the funds are wired to the MSC bank account in the form of an advance.
The MSC also provides guidance on the documentation and submission of receipts and expenditure—guidance that is tailored to meet the needs of the funding institution.