At Financial Technologies & Management, we offer Indianapolis nonprofit financial management training and nonprofit management solutions. We have been helping nonprofits in Indianapolis save time and make sound decision with nonprofit management solutions since 1999. Our nonprofit management solutions provide training and tools that focus on best practices, so you can lead and better serve your nonprofit. Successful nonprofits start with strong nonprofit financial management and planning. This is why at Financial Technologies & Management we offer many targeted training areas from CFO training to nonprofit accounting training. Our nonprofit financial management training allows you to enhance your financial management skills to make sound decisions.
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FTM Nonprofit Forum for October 31, 2018 – Building a Superior Budget
October 31, 2018 @ 11:30 am - 1:00 pm
Building a Superior Budget
Nonprofit Forum Agenda for October 31, 2018
11:30 to 12:30-Financial Management Topic
Building a Superior Budget
How should your evaluate your budget and planning process? Please bring your questions so we can have candid conversation regarding budgeting.
We will cover the critical aspects of budgeting including:
A strong budget is an essential element for any nonprofit organization to achieve financial leadership. Superior budgets, though, have written plans about the core activities to include strategic, organizational, and program goals and how they will be financed.
Most financial leaders focus too much time on budget variance analysis and not enough time to anticipating or planning for the future. By anticipating or planning, organizations can focus on what’s upcoming regardless of its budget cycle or fiscal year end. A budget can be complemented with rolling forecasts to better anticipate upcoming financial results.
Budgets also need to include cash flow projections, which maybe outside of the finance departments capacity or capabilities. Financial leaders must have a direct role in developing useful cash flow projections and assumptions with frequent, detailed analysis.
Any cash flow shortage needs to be further evaluated to determine if it is just a timing difference or an actual cash deficit. Shortfalls created by deficits need to be solved by budget adjustments or strategic choices to absorb a shortfall. An organization can determine timing or actual deficits by reviewing the budget to see if it had planned for or not.
Financial sustainability can only be achieved with a well-prepared and continuously monitored budget. Conversely, a poorly developed budget can diminish mission focused activities opportunities and threaten long-term success.
This webinar will help Executive Directors, Finance Directors, and finance staff to develop and use a financial policies and procedures manual. Savvy nonprofit leaders know that effective budgets and projections can be the difference between good and great performance.
How should you evaluate your budgeting process? We will share our expertise and candid advice to better prepare you for this important role to your organization.
3 Key Things you will learn include:
- Financial sustainability can be achieved with well prepared and monitored budget
- Budgets should include cash flow projections
- Best practices for a superior budgeting process
Immediately following the presentation on building a superior budget, we will host a discussion on budget refresher.
Those attending the forum will receive handouts.
12:30 to 12:50-MIP User Group-Budget refresher for MIP and Microix
12:50 to 1:00-FTM Updates and Closing
Nonprofit Accounting Training to Compliance Training
Whether you are the CFO or nonprofit director, our tools help you achieve your goals with stronger nonprofit financial management. We not only provide nonprofit CFO training, but also offer financial training that can benefit all nonprofit accounting staff. Staff can benefit by taking our nonprofit accounting training courses in Indianapolis or online. At Financial Technologies & Management we also offer courses, articles, newsletters and webcasts to boost your staff’s competency in the area of nonprofit financial management. Our mentors are knowledgeable and qualified financial trainers that cover every aspect of nonprofit financial management.
Call Financial Technologies & Management in Indianapolis, IN, at (317) 819-0780 to learn more about our nonprofit financial management solutions. Also specializing in nonprofit accounting software, we can upgrade your existing software to better meet your needs.
MIP Fund Accounting User Group Meetings
Financial Technologies & Management’s Jim Simpson will be hosting monthly Indianapolis Nonprofit Financial Management Forum and MIP Fund Accounting user group meetings. All nonprofits are welcome to join our monthly nonprofit financial management forum. There is no charge for the Indianapolis Nonprofit Forum, but registration is required. Our forum topics range from nonprofit operating efficiency, MIP Fund Accounting software to fraud protection. We also offer complimentary products and services to help with nonprofit management solutions.
The first Nonprofit Financial Management Forum was held on May 25 and in addition to an update on MIP Fund Accounting, the theme was “Characteristics of Financially Healthy Nonprofits.” All attendees received a Financial Management Self-Assessment checklist and a PDF of the “12 Characteristics of Financially Healthy Nonprofits.” If you would like to receive these resources, please email firstname.lastname@example.org and we’ll make sure to get you copies.
Contact us today to request additional information about financial management training opportunities. We serve clients in Indianapolis, IN, and surrounding areas.