Workshop: Best Practices for Managing Your Organization`s Finances, Chicago IL
04/01/2010 - 8:30am
04/01/2010 - 12:00pm
To run a nonprofit successfully, you need to raise enough money to accomplish its mission. However, just as important is your ability to steward the money raised so that you can account for every dollar raised. An organization is accountable to its board, staff and the general public to know how much revenue it is receiving and how that money is being spent. It also needs to ensure that grants and all other income are spent in the manner intended.
In this session, we will cover best practices for the following:
- Creating and following an annual budget
- A system for tracking revenues by fund categories and by restricted versus unrestricted funds
-The importance of planning ahead for difficult financial times
- Appropriate internal controls to prevent improper uses of funding and to ensure that costs are controlled
- What to expect from an audit or financial review
- How to develop a reserve fund and financial policies, including an investment policy
You will walk away with best practices to safeguard your organization`s assets and account for its financial resources.
This session is intended for Board Members, Executives, Senior Staff and anyone who works with the organization`s Finances.
