MSI - Financial Management: Key Tasks and Indicators 109
Financial Management is among the Supports and Safeguards that must evolve in conjunction with an organization’s Core strategy elements. Issues addressed for Financial Management include: evolving internal controls, establishing fund accounting, budget development, keeping the Board informed, managing the audit process, cash flow and inventory. See our Strategic Growth: A Guide for Nonprofit Organizations to view the full set of Key Tasks arranged across developmental stages (FREE). Review of current functioning against the Indicators for effective Financial Management will prompt organization leadership to create a plan for improvement in this area. These indicators may also be used to measure changed functioning as the plan for improvement is implemented.
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Tool - Strategic Growth: A Guide for Nonprofit Organizations - - Free
Strategic Growth: A Guide for Nonprofit Organizations is a standardized assessment tool that benchmarks where each management system in an organization is relative to the developmental cycle of a nonprofit organization. Executive Leaders, along with other staff and/or Board members, can use this guide to determine their organization’s over all stage of development (Idea, Start Up, Growth, or Established) and to assess whether the development of internal management systems is aligned with their over all development. Ten management dimensions are captured in the tool. For more information on using the tool, click here.
Management System Indicators: Complete Set - $125.00
The purpose of this tool is to allow a group of organization members to examine aspects of the organization’s functioning in some depth and to guide that discussion to the Key Tasks and Indicators most relevant to its current needs. The tool is most useful as a contribution to the assessment of internal strengths and weaknesses in support of strategic management.
The Key Tasks and Indicators included here are illustrative of good management practice in nonprofit organizations that provide services. They do not cover every aspect of each function, but rather are designed to spur discussion around this function and to anchor that discussion around important developmental tasks. This discussion may prompt attention to additional areas of development that are unique to each organization’s development and context.
The tool includes Key Tasks and Indicators for four stages of development: Idea, Start Up, Growth and Established for each functional area. Before using this tool, you should use the FIO Partners Strategic Growth Guide to identify the set of Indicators you should start with. For example, if the Guide indicates that you have completed the Idea and Start Up stages in a particular function, there is then no reason to review those Indicators. Instead, start with the Indicators in the Growth Stage. If there are one or more Key Tasks left out in the previous stage, you can simply add those missing Key Tasks to your review. Similarly, if you have substantial work to do in the Growth Stage, there is no reason to review the agency against the Established Stage Indicators though Agency Leaders may want to become familiar with them so they can anticipate the coming challenges.
Qualitative Indicators are provided for a total of ten dimensions: Program Strategy Development, Human Resources, System Participation, Marketing & Public Relations, Fund Development, Information management, Financial Management, Risk Management, Physical Plant, Quality Assurance
