Financial Policy of the International Physical Therapy Academy (IPTA)

Financial Policy of the International Physical Therapy Academy (IPTA)

1. Sources of income: The International Physical Therapy Academy (IPTA) relies solely on the financial income generated from its programs and activities, and the funds provided by the International Physical Therapy Network (IPTN) and accepts donations or grants from known sources only. IPTA does not accept grants, donations, or any other unknown external sources of income.

2. Clear and Transparent Financial Policy: All financial transactions and operations are conducted in a transparent manner, ensuring accountability and integrity following the articles of this policy.

3. Income Allocation: The financial policy of IPTA focuses on directing the income generated from different programs towards specific expenses and fees. These include program expenses, governmental fees, E-systems fees, and transactions/financial works fees:

a.Program Expenses: The income generated by IPTA's different programs is primarily directed towards covering program expenses. These expenses include costs related to organizing conferences, workshops, and training sessions, developing educational materials, conducting research, and supporting various initiatives in the field of physical therapy.

b.Governmental Fees: IPTA needs to pay certain governmental fees as part of its operations. These fees include registration fees, licensing fees, or any other mandatory fees required by local or national authorities. Ensuring compliance with legal requirements is an important aspect of IPTA's financial policy.

c.E-systems Fees: IPTA rely on electronic systems for various purposes, such as managing databases, communication, E-learning systems and information sharing. IPTA allocates funds for e-systems fees, which cover the costs associated with maintaining and operating these electronic systems.

d.Transactions/Financial Works Fees: IPTA incur fees related to financial transactions and financial works. These fees include charges associated with bank transfers, currency conversion, payment processing, and any other financial services required by IPTA.

e.Official Works Fees: IPTA allocates funds for official works fees, which encompass various administrative and operational costs necessary for the smooth functioning of the institution. These fees cover legal services, document processing, office maintenance and renting, and other expenses related to official tasks.

4. Entitlements for Appointed Offices: As part of its financial policy, IPTA allocates payments in terms of incentives for appointed offices. These individuals/ organizations play a crucial role in representing IPTA in their respective countries and assisting with its activities.

5. No Profits or Payments Outside Provided Categories: IPTA does not make any profits or payments to individuals or entities outside the categories provided. This ensures that the financial resources are utilized solely for the benefit of the institution and its specified purposes.

6. Financial Policy Compliance: All payments made within the mentioned categories are subject to the financial policy of IPTA.

7. Financial and Accounting Audits: To ensure transparency and accountability, IPTA undergoes regular financial and accounting audits. These audits help to verify the accuracy of financial records and ensure compliance with the financial policy.