At Financial Technologies & Management, we offer nonprofit financial management training to our clients and to better educate the communities we serve. We have been helping nonprofits to save time and make sound decisions with nonprofit accounting solutions since 1999. Our nonprofit accounting solutions provide financial management training and tools that focus on best practices, so you can lead and better serve your nonprofit. Successful nonprofits start with strong nonprofit accounting and planning. This is why at Financial Technologies & Management we offer many targeted financial management training areas from CFO training to nonprofit accounting training. Our nonprofit financial management training allows you to enhance your accounting skills to make sound decisions.
FTM Nonprofit Forum on March 25, 2020 – Building a Superior Budget
March 25 @ 11:30 am - 1:00 pmFree
Building a Superior Budget
Nonprofit Forum Agenda for March 25, 2020
11:30 to 12:30-Building a Superior Budget
How should you evaluate your budget and planning process? Please bring your questions so we can have a 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 their 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 may be outside of the finance department’s 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 the 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 for 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 staff, our tools help you achieve your goals with stronger nonprofit financial management training. We provide all levels of nonprofit financial management training that can benefit all nonprofit accounting staff. Staff can benefit by taking our nonprofit financial management training courses 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 accounting and software. Our mentors are knowledgeable and qualified financial management 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 accounting solutions. Also specializing in nonprofit accounting software, we can offer software training to help you better utilize your accounting software.
MIP Fund Accounting User Group Meetings
Financial Technologies & Management’s Jim Simpson will be hosting monthly Nonprofit Forums and MIP Fund Accounting user group meetings. All nonprofits are welcome to join our FREE monthly nonprofit forum. There is no charge for the Nonprofit Forum, but registration is required. Our forum topics include all areas of essential financial management training.
The first Nonprofit Forum and MIP User Group was held during April, 2000. We continue to educate and give back to the communities we serve.
Contact us today and review our event and training calendar to learn more about our training opportunities.