The Schools for Youth: Operational Guidelines
To qualify for support by the Foundation Schools for Youth a project must be sustainable. It should in the end be able to exist without support both financially and organizationally.
SfY will consider and evaluate brief concept papers requesting support. The concept paper should include a discussion of objectives, the project concept plan, an initial timeline for implementation, expected results and outcomes, a financial plan and initial year budget, personnel required, and financial support requested for the first year with estimates for up to an additional three years, if necessary.
The requesting organization submitting a concept paper must have professional management, transparent accounting and official recognition by the local government authorities.
SfY does not provide a lump sum financial support to the project for free. All the financial support should be repaid in student slots. Contractors and other implementers on a phased basis to enable monitoring of the progress of the project effort.
The main driver behind the checks and balances is arranged through local ownership and mutual responsibilities within the stakeholder groups of the project. Thereto the following organisational measures are in place:
Checks and Balances
Ownership and mutual responsibilities
SFY will only pay direct project expenses to participants.
There will be no direct payments on loans to entrepreneurs and the John Fisher School. Both participants will take out their loans directly from the <<name bank>> bank. The bank will perform risk management, administration and collection tasks. SFY will limit financial transactions to repayments with regards to loan repayments to the monthly interest fee. Payments are limited to monthly repayments
Prior to entering the project entrepreneurs go through an assessment. The project coordinator carries out the assessment.
In case a participant does not live up to the obligations towards students,SFY will continue the monthly payments of interest fee but will lower the repayment of interest fee to participants .
The bank will continue to recover the loan from the participants directly.
Eligibility criteria are in place for students. Students sign a contract with clauses on repayment and obligations during the education period.
Community leaders have an important role in the programme and take responsibility for the students well being. This commitment is expressed by the signing of an MOU.
In order to minimise risks on non-repayment, payment transactions on interest repayments on microcredits will be limited to monthly instalments.