Financial Management and Financial Vibrancy
Financial Monitoring and Management
Financial monitoring and management is not simply about keeping track of receivables and expenses. It is the practice of estimating the actual cost of delivering programs and services on per unit basis of service or some other metric that helps illuminate the costs that impact on a particular revenue stream. This contrasts with the practice of pooling all revenues from all revenue sources and pooling all expenses.
The cost-accounting process allows for you to be aware of the true costs of programs and to work towards minimal amounts of subsidization. This allows you to make decisions based on a sound financial knowledge of the program.
Success Stories | Lessons Learned
Business Planning
In developing a business plan, you are articulating not only how your agency’s program(s) will unfold from a service delivery perspective, but also how it will unfold financially, given its costs and forecasted revenues.
