Managing finances and resources
You will need to manage the financial, accounting and resourcing systems to uphold accountability and efficiency requirements. You may be dealing with your Board of management, other staff, government, funding providers and clients.
Start by putting a financial accounting system in place. This is normally a software package and a trained bookkeeper, but you should have a trained accountant who can give you advice so that the system will give you get information you need to make financial decisions.
Check that you have all the resources that you need for the project. Make a list of any resources you still need and make a plan to acquire them.
- How much money do you still need? What is the timetable that you need to get it by? (E.g. so much by start-up time, so much each month, etc.)
- What other resource requirements are there?
Other resources may include staffing levels, time, finance, buildings/facilities, transport, information systems or equipment, supplies and stores.
- Financial procedures
- A budget
- Funding proposals
- Financial reports
- Reconciliation's of income and expenditure against operational budgets
- Proposals for corrective action on budget deviations if applicable
- Reports on implementation of corrective action if applicable
- A research and feasibility study to acquire funding and resources
- A contingency plan for possible shortfalls in funds and resources
- A plan to maximize value gained from the organization’s resources
- Written strategy to ensure the organizations resource needs are met within the constraints of budget allocations, existing resources, contingencies, and available resource providers
- Procedures to achieve the most competitive pricing for goods and services.
- Your organization’s asset register