Accounting and Financial Procedures: A Cornerstone of Institutional Sustainability
Every year, at the close of the annual work cycle, the Libyan Technology Foundation pauses at an important milestone — one that reflects our commitment to professionalism and transparency in everything we do.
At this stage, we prepare our final accounts with complete integrity and clarity, presenting a picture that reflects the efforts of our team, the challenges we have faced, and how we directed our resources to achieve our goals.
Our commitment to an annual financial audit is not merely an administrative procedure — it is an integral part of our institutional vision.
We invite an external auditor to conduct a precise and impartial review of every financial detail, providing us with a comprehensive financial and technical report that highlights any accounting errors, if found, and recommends corrective measures.
This report goes beyond mere numbers — it provides genuine recommendations that are presented to the Board of Trustees to improve financial performance and enhance spending efficiency.
But we don’t stop there.
We also work to provide a transparent picture to our supporters, members, and administrative committees regarding how expenditures are directed and managed.
We present detailed files explaining the nature of spending, with a focus on allocating resources in ways that achieve the greatest social and institutional impact.
Driven by our commitment to best practices, we have set a strict rule: operational expenses must not exceed 20% of the total budget.
This policy not only reflects our concern for resource efficiency but also reaffirms our dedication to directing the majority of our energy and resources toward projects and initiatives that serve the Foundation’s mission and goals.
Every project we execute, every task we undertake, follows a carefully proposed budget, a well-structured work plan, and clear strategies designed to achieve the greatest impact at the lowest possible cost.
This approach enables us to face challenges with greater resilience and to continue our journey with confidence and sustainability.
What we do is not just financial procedure — it is an institutional and ethical commitment to our community, our partners, and our members.
These integrated practices have made the Libyan Technology Foundation a more established and professional entity — a model to be followed in both community and technology sectors.
Professionalism, to us, is not merely a value we uphold — it is a way of life that guides every step we take.
It is not only what strengthens trust between us and our supporters, but also what unites us all — as one team — in deeper belief in our cause and our goals.
Until the next reflection, I salute you all and wish you continued success and achievement in your work and endeavors.
Written on a Friday evening, as I left the office of Mr. Najm Al-Din.