Practical Financial Management for NGOs

Alex Jacobs, Terry Lewis


1 Introduction • An overview of financial management in NGOs • Key language and concepts. 2 What is Financial Management • The concept of managing • Who is responsible for financial management • Why financial management is important to NGOs • Financial management as a shared responsibility • How to achieve good practice in financial management. 3 Who is Responsible for Financial Management • Individual responsibility • Responsibility in law • The responsibility of trustees • Other staff who have authority delegated to them. 4 Why is Financial Management Important for NGOs • Protecting an organisation against unexpected events and external risks • Giving an organisation a competitive edge over other NGOs • The legal and moral obligations for good financial management. 5 How to Achieve Good Practice in Financial Management • Keeping accounts • Budgeting • Internal controls • Financial monitoring. 6 Advanced Financial Management Techniques For Managers • How cash flows should be managed • Working with donors and finance staff • Strategic financial management. 7 Financial Management and Organisational Values • How strong ethical and moral values, such as gender equality, can influence financial management • How to organise projects to take these values into account.