The functions of the Office of Economic Management are to
plan, supervise, and control the economic policies of the
Institution, in order to see that these are observed, coordinating
the actions with the departments in view of the application
of said policies, of the measurement of results, and the
presentation of the pertinent recommendations.
It is also responsible for
maintaining and carrying out the accounting policies established
by the Board of Directors
The accounting of the Institute is kept by funds, in conformity
with the generally accepted principles of accounting. The
economic statements of the entity must be prepared on the
basis of the net restricted actives, temporarily restricted
and permanently restricted.
The Institute keeps its accounting books in pesos, the currency
of the Dominican Republic. The Dominican peso is according
to the law at a par with the U.S. Dollar; however, due to
the dispositions of the Monetary Fund, all transactions
in foreign currency are performed through the private market,
which is managed by the commercial banks, although certain
transactions are performed through he official market.
ASSISTANTy
Organs
The Instituto Cultural Domínico-Americano
is a private, non-profit organization, established according
to the laws of the Dominican Republic.
The Office of Financial Management, in order to efficiently
accomplish its functions, duties, and responsibilities,
counts with the aid of the departments of general accounting,
computer technology, collection, and the Office of the
Cashier General.
Each one of these departments contributes fundamentally
toward reaching the goals and objectives that the Office
of Financial Management sets at a short term or long term
in order to help attain in an essential manner the institutional
mission and vision.
Highly trained technical personnel are employed in each
of these departments; said personnel are competent in
the fields of accounting and technology.
Likewise, the Office of Financial Management takes into
account, when carrying out its tasks, the official dispositions
related to taxes, both labor and fiscal, that may have
some effect on the accounting and the finances of the
Institute.
