This financial review covers the 2023 and 2024 financial years. It is based on CERC’s financial reports to its donors: the 2023 financial report of the Education Out Loud project, the financial reports sent to RCN Justice & Démocratie and the agreement signed with this partner. Project accounts are kept in US dollars, on a cash basis. The 2023 and 2024 figures have not been audited.
All projectsConsolidated statement – all projects
Income, expenditure and balances of all projects combined, for 2024 and 2023 compared with 2022. The 2023 expenditure of the Education Out Loud project is available in three categories only, so the comparison uses these three categories.
| Income and expenditure | 2024 US$ | 2023 US$ | 2022 US$ |
| Income received | | | |
| GPE / Oxfam IBIS – Education Out Loud | – | 68,816.00 | 361,361.00 |
| USAID / IREX – Youth Excel | – | 6,746.05 | 51,529.10 |
| RCN J&D – REPLIC (EU, DGD) | 19,295.00 | – | – |
| CERC’s own resources | – | 1,934.73 | – |
| Total income received | 19,295.00 | 77,496.78 | 412,890.10 |
| Expenditure, all projects combined | | | |
| Programme activities | 17,120.00 | 101,836.96 | 168,350.36 |
| Direct project support (staff, travel and running costs) | 2,000.00 | 39,216.41 | 152,081.80 |
| Administration, audit and bank charges | 175.00 | 16,533.63 | 25,386.29 |
| Total expenditure | 19,295.00 | 157,587.00 | 345,817.45 |
| Income less expenditure | 0.00 | −80,090.22 | 67,072.65 |
| Balance brought forward from the previous year | – | 80,090.22 | 13,013.07 |
| Adjustments (see the statement of funds) | – | – | 4.50 |
| Balance carried forward to the next year | 0.00 | 0.00 | 80,090.22 |
Not audited: financial reports to RCN Justice & Démocratie (REPLIC only; Education Out Loud had spent all its funds by December 2023). Not audited: 2023 financial report of Education Out Loud to Oxfam IBIS; Youth Excel: final IREX disbursement. Education Out Loud spent its US$88,771 audited balance from 2022 and its January 2023 instalment; Youth Excel received the final IREX disbursement for expenditure already reported. Partly audited: the Education Out Loud project was audited by DWAC (notes 1 to 4; the audit rounds its total, so the categories add up to US$1 more); Youth Excel is not audited (December 2022 financial report approved by IREX, notes 5 and 6, less the expenditure to December 2021, which is that of 2021). Education Out Loud income: the two transfers of 2022 (US$361,361). The project’s audit opens with US$751 in cash on 1 March 2022: the Year Zero balance of US$746.50 brought forward and US$4.50 of adjustment – CERC’s ledger took over US$746.41 and the bank account also held US$5.06 of CERC’s own funds kept for fees: US$751.47, shown as US$751 by the audit, which works in whole dollars.
Statement of funds, by grant
For each grant: the balance brought forward from the previous year, the funds received, the funds spent, the funds returned to the donor or transferred to another grant (and adjustments), and the balance carried forward. A negative balance means spending ahead of funding. Each line says whether its figures are audited, and by which audit.
| Grant and donor | Brought forward US$ | Received US$ | Spent US$ | Returned, transfers US$ | Carried forward US$ |
| 2023 | | | | | |
Youth Excel – Youth Represent DRC1 CERC’s own resources · Not audited – Final IREX disbursement; financial report to IREX; CERC’s own resources | −8,680.78 | 8,680.78 | – | – | – |
Students Acting for Accountability and Quality of Education2 Global Partnership for Education, through Oxfam IBIS · Not audited – 2023 financial report to Oxfam IBIS | 88,771.00 | 68,816.00 | 157,587.00 | – | – |
| Total 2023 | 80,090.22 | 77,496.78 | 157,587.00 | – | – |
| 2024 | | | | | |
REPLIC – Agir pour une justice redevable, plurielle et intègre au Congo3 European Union and Belgium (DGD), through RCN J&D · Not audited – Financial reports to RCN Justice & Démocratie | – | 19,295.00 | 19,295.00 | – | – |
| Total 2024 | – | 19,295.00 | 19,295.00 | – | – |
1 Youth Excel – Youth Represent DRC, 2023. Final IREX disbursement (US$6,746.05). The US$1,934.73 of expenditure above the award – the “cash available” of CERC’s December 2022 report to IREX – was paid from CERC’s own resources (members’ contributions): the project closes at zero.
2 Students Acting for Accountability and Quality of Education, 2023. Resources 2023: the audited US$88,771 balance from 2022 – of which US$7,120 of cash advances still to be justified at the end of 2022 – and the US$68,816 instalment of January 2023, all reported as spent in 2023 (US$157,587). The 2023 financial report to Oxfam IBIS is not audited: it does not show how the US$7,120 of advances were justified.
3 REPLIC – Agir pour une justice redevable, plurielle et intègre au Congo, 2024. Received quarterly and fully spent (April–December 2024).
Policy 002Compliance and reporting standards
This section applies to this report the corrections made on CERC’s financial accountability page (cerc.cd/en/our-financial-accountability/): the compliance of each grant with Policy 002, every difference between reports, accounts and audits – explained, or open and shown in red – and the score of this report against the reporting standard of Policy 002, for a target of 80%.
Compliance with Policy 002: 75%
Average of the rules met (1), partly met (½) and not met (0) by each grant in 2023, 2024.
| Grant and year – rules partly or not met | Level |
|---|
Youth Excel – Youth Represent DRC 2023 · External audit; Expenses approved and supported | Partly compliant 75% |
Students Acting for Accountability and Quality of Education 2023 · External audit; Expenses approved and supported | Partly compliant 75% |
REPLIC – Agir pour une justice redevable, plurielle et intègre au Congo 2024 · External audit; Expenses approved and supported | Partly compliant 75% |
Differences between reports, accounts and audits
| Difference | Amount US$ |
|---|
Explained – Education Out Loud: advances not justified at 31 December 2022 Cash held US$81,651 against a balance of US$88,771 (2022 audit). The US$7,120 are three advances for activities under way, listed in CERC’s fourth-quarter report to Oxfam IBIS: US$5,000 for identifying and training education clusters, US$2,000 for a mission to Bukavu, US$120 for transport to equip the Integrity Clubs. The 2023 ledger shows the cluster work starting in January 2023. The three advances were justified or refunded by June 2025 (CERC’s statement). These documents are kept by CERC and not audited. | 7,120.00 |
Explained – Education Out Loud: funds fully spent by December 2023 The project ran until June 2024. The funds received (US$430,177 plus the US$751 of Year Zero) were all spent by December 2023, including expenses such as the approved flight of CERC’s Executive Director to Geneva for a United Nations activity (CERC’s statement). No funds remained for January–June 2024, so there is no financial report for that period. The 2023 report is not audited. | – |
Explained – Youth Excel: spending above the award, covered by CERC The USAID/IREX subaward was funded by advances against monthly financial reports, each approved by IREX, which paid US$90,781.86 in all, the last instalment in February 2023. Cumulative spending reported to IREX at December 2022 was US$92,716.59: the US$1,934.73 above the funds received – the “cash available” of CERC’s December 2022 report – were paid from CERC’s own resources (members’ contributions). The project closes at zero. | 1,934.73 |
Budget and actual, REPLIC 2024
| Budget US$ | Actual US$ | Rate |
|---|
| Running costs (office supplies, communication, bank charges) | 175.00 | 175.00 | 100% |
| Social alert system and civil society response | 14,295.00 | 14,295.00 | 100% |
| Youth project incubator: journalism and university anti-corruption clubs | 4,825.00 | 4,825.00 | 100% |
| Total | 19,295.00 | 19,295.00 | 100% |
Partnership agreement with RCN Justice & Démocratie of 1 April 2024 and its amendment of 12 August 2024 (budget US$19,295, €17,826.13); financial reports to RCN J&D.
Follow-up of the 2022 audit and of Oxfam IBIS’s recommendations
| Finding or recommendation | Status |
|---|
| 2022 audit – US$7,120 of cash advances not justified at 31 December 2022. | Done by June 2025 – CERC’s statement |
| 2022 audit – US$2,517 more administrative staff costs in the financial report than in the general ledger. | Done by June 2025 – CERC’s statement |
| 2022 audit – US$5,158 spent without the donor’s formal approval (rental deposits US$3,800, unbudgeted staff US$1,358). | Done by June 2025 – CERC’s statement |
| 2022 audit – US$3,800 of accommodation costs of a 152-day mission without terms of reference or mission reports. | Done by June 2025 – CERC’s statement |
| 2022 audit – Purchases above the procurement threshold (US$1,250) insufficiently documented: selection method and competition not always followed (other information, without effect on the opinion). | Done by June 2025 – CERC’s statement |
| 2022 audit – US$5,100 of salaries paid for months not covered by a contract (March, April and December 2022; other information). | Done by June 2025 – CERC’s statement |
| Oxfam IBIS – A functional Board of Directors with democratic governance powers (condition for the 2023 disbursements). | Done |
| Oxfam IBIS – A single authorised signatory on the bank account. | Done |
| Oxfam IBIS – Annual audit of the project accounts. | Under way |
| Oxfam IBIS – No internal audit team. | Done by June 2025 – CERC’s statement |
| Oxfam IBIS – A more detailed electronic inventory tool. | Done by June 2025 – CERC’s statement |
| Oxfam IBIS – Attendance lists kept by the programme team, apart from the payment sheets. | Done by June 2025 – CERC’s statement |
Reporting standard of Policy 002: 65%
This report is below the target of 80%: the criteria not met show what CERC must still provide.
| Criterion | Status |
|---|
Funds received, by donor and project (IV.12) Income by donor and project. | Met |
Expenditure by category (II.6.4) Education Out Loud 2023 in three categories only. | Partly met |
Budget and actual, by budget line (II.6.4) REPLIC: budget of US$19,295 by line, 100% spent (added in this report); Education Out Loud 2023: no budget by line. | Partly met |
Cash position at year end (II.6.4) Balances from the statement of funds; no bank statement or cash count published. | Partly met |
Commitments and balances owed (II.6.4) Balances owed, from the statement of funds. | Met |
Statement of funds, by grant (III.2.2) Statement of funds by grant. | Met |
Comparison with the previous year (II.6.4) 2024 and 2023 compared with 2022. | Met |
External audit: auditor and opinion (III.3.2) 2023 and 2024 are not audited. | Not met |
Audit findings and follow-up action plan (III.3.5) The findings of the 2022 audit and Oxfam IBIS’s recommendations are published with the status of each; the detailed action plan is kept internal (CERC’s plan of January 2023, Oxfam IBIS’s follow-up, the Board minutes of 10 February 2023). | Met |
Differences between reports, accounts and audits explained (III.3.3) Every difference between reports, accounts and audits is explained; the 2022 audit findings were regularised by June 2025 (CERC’s statement, not yet audited). | Met |
Compliance with the financial policies assessed (Policy 002) Assessed in this report. | Met |
Assets and equipment (inventory) (VI.8, VII.1) No fixed-asset register or inventory is published. | Not met |
Financial report approved by the Board of Directors (IV.12) No record of the Board’s approval of the financial report is published. | Not met |
Restricted fundsFunded projects
All of CERC’s income in 2023 and 2024 was restricted to projects.
| Project | Donor | Received in | Funds received US$ |
| Students Acting for Accountability and Quality of Education | Global Partnership for Education, through Education Out Loud (Oxfam IBIS) | Jan 2023 | 68,816 |
| Youth Excel – Youth Represent DRC | USAID, through IREX | Feb 2023 | 6,746 |
| Social alert system and Youth Project Incubator (PARJ2 – REPLIC) | European Union and Belgian Development Cooperation (DGD), through RCN Justice & Démocratie | 2024 | 19,295 |
Only the funds actually received in 2023 and 2024 are shown. The balance of US$88,771 carried forward from 2022 on the Education Out Loud project had been received in 2022.
- Students Acting for Accountability and Quality of Education – Integrity Clubs in 150 secondary schools in South Kivu and Kinshasa, where students monitor the quality of education services and advocate for improvements.
- Youth Excel – Youth Represent DRC – The final IREX disbursement for the project carried out in Kinshasa in 2021 and 2022 and extended to 28 February 2023.
- PARJ2 – REPLIC – A social alert system against corruption in the courts of Kinshasa, civil society’s response to alerts, university integrity clubs and journalism.
IncomeIncome
In 2023, the income of the Education Out Loud project amounted to US$157,587: the balance carried forward from 2022 (US$88,771), as shown in the project’s 2022 audit, and the instalment received in January 2023 (US$68,816).
In February 2023, CERC received the final disbursement of the Youth Excel project from IREX, US$6,746.05, and the project closed on 28 February 2023 after a one-month no-cost extension. In all, the project received US$90,781.86: US$32,506.71 in 2021, US$51,529.10 in 2022 and US$6,746.05 in 2023. The cumulative expenditure reported to IREX at December 2022, US$92,716.59, exceeded this by US$1,934.73, which CERC paid from its own resources (members’ contributions).
In 2024, CERC received US$19,295 from RCN Justice & Démocratie for the PARJ2 – REPLIC partnership, agreed on 1 April and extended by the amendment of 12 August. Funds were transferred quarterly, based on the quarter’s budget forecast and on justified expenditure.
ExpenditureExpenditure
In 2023, CERC spent US$157,587 on the Education Out Loud project, in line with the expenditure forecasts: 65% on the four project objectives – including US$72,101.53 on the Integrity Clubs and their monitoring –, 25% on direct project support and 10% on administration, audit and bank charges (note 1).
In 2024, CERC spent US$19,295 on the PARJ2 – REPLIC partnership: US$175 on running costs, US$14,295 on the social alert and response system and US$4,825 on the Youth Anti-Corruption Project Incubator (note 2).
Funding policyOur sources of funding
CERC is funded by institutional donors, directly or through partner organisations, through grants restricted to projects. Each project has its approved budget; CERC reports to its donors through narrative and financial reports with supporting documents, and project accounts are audited as each donor requires – the Education Out Loud project was audited for 2022.
Note 1Education Out Loud project – income and expenditure 2023
| Item | US$ |
| Income | |
| Balance carried forward from 2022 | 88,771.00 |
| Instalment received in January 2023 | 68,816.00 |
| Total income 2023 | 157,587.00 |
| Expenditure | |
| Category 1 – the four project objectives | 101,836.96 |
| – objective 1: high-level advocacy and policy engagement | 5,836.22 |
| – objective 2: Integrity Clubs and monitoring | 72,101.53 |
| – objective 3: training of teachers and principals, Education Clusters | 15,995.72 |
| – objective 4: student-led advocacy and campaigns | 7,903.49 |
| Category 2 – direct project support | 39,216.41 |
| Category 3 – administration, audit and bank charges | 16,533.63 |
| Total expenditure 2023 | 157,587.00 |
Note 2PARJ2 – REPLIC partnership – expenditure 2024
Expenditure for the period from 1 April to 31 December 2024, by line of the agreement of 1 April 2024 as amended on 12 August 2024.
| Item | US$ |
| Running costs | 175.00 |
| Office supplies | 55.00 |
| Communication | 60.00 |
| Bank charges | 60.00 |
| Social alert system and response | 14,295.00 |
| Setting up the social alert system in communities | 6,500.00 |
| – communication for the 9 focal points (10 months) | 2,250.00 |
| – transport for the 9 focal points (10 months) | 2,250.00 |
| – supervision per diem | 2,000.00 |
| Civil society response to alerts in Kinshasa | 7,795.00 |
| – transport (advocacy meetings) | 2,500.00 |
| – media (press briefing or advocacy programme) | 750.00 |
| – legal assistance | 3,000.00 |
| – awareness raising | 1,545.00 |
| Youth anti-corruption project incubator | 4,825.00 |
| Journalism | 1,000.00 |
| Support to university anti-corruption clubs | 3,825.00 |
| Total expenditure 2024 | 19,295.00 |
Equivalent to €17,826.13.