The role boards and employees play in not-for-profit financial management is not always fully understood or appreciated.
This half-day session will introduce you to a wide variety of financial management strategies and discuss ways to implement financial management tools effectively.
You will walk away with a practical perspective as to what board should do and understand the different roles the board and the executive director (or employees) have with respect to proper financial management.
Who Should Attend
Board members, executive directors/CEOs or senior leaders (i.e. Directors, Managers, etc.) of not-for-profit organizations.
Identified strategies to implement current financial management best practices for your organization
Increased clarity on the roles of board members vs. the roles of paid staff as they relate to financial management
Increased confidence to carry out the fiduciary responsibilities within your role as board member
By the end of this session you be able to:
Understand the importance of good financial management systems in the not-for-profit sector
Identify who is responsible for what role within financial management
Apply financial management best practices to your organization, such as creating financial strategies, establishing budgeting processes, creating internal controls and reporting systems
Proactively manage your financial reporting to align with standards set by the Canada Revenue Agency
The Benefits of Good Financial Management
Creating a Clear Financial Strategy
Robust Financial Performance Management and Reporting System
A Responsible and Accountable Internal Environment
Important Canada Revenue Agency Rules and Regulations You Need To Know