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 who want to gain fundamental financial governance skills.
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:
Describe the importance of good financial governance in the not-for-profit sector
Identify the financial governance responsibilities of the board
Read key financial statements
Describe the difference between charities and not-for-profit organizations and the most common areas of non-compliance
The Benefits of Good Financial Management
Understanding key information contained in the financial statements
Robust Financial Performance Management and Reporting System
A Responsible and Accountable Internal Environment
Important Canada Revenue Agency Rules and Regulations You Need To Know