Enabling Stronger Boards: Financial Management & Controls Workshop – Part 1
The financial well-being of your organization ultimately rests with your Board of Directors. It can be a challenge for senior leaders, program managers and others with financial responsibilities to determine what information to give to your Board, and how to present it. Through group work and case studies participants in this one day capacity building session gained a better understanding of financial management and controls, and how to communicate and share information to their board.
Particular areas of learning included:
- Budgeting for projects and your organization
- How to present your annual budget to your board for approval
- Financial reporting to manage your finances
- Cash Flow Management
- External Audits and the role your board should play in the process
- Risk Management
Facilitation: A CPA and Certified Management Accountant, Eric Plato has worked in the nonprofit sector for over 20 years in social services, international development, health, environment, cultural/heritage, and employment. He has contributed as a volunteer, staff, consultant and board member with organizations with annual budgets ranging from under $100,000, to over $100,000,000. Eric’s mandate is to deliver information in a way which makes participants feel more confident and comfortable about finances in their organization. He has delivered training to individuals, small staff groups, and to larger groups of various nonprofit umbrella organizations. Topics have included best practices in budgeting, demystifying the audited financial statements, internal controls in a one person shop, how to spot signs of financial trouble, and measuring what really counts, among others.
Enabling Stronger Boards: Financial Management & Controls Workshop – Part 2
The financial well-being of your organization ultimately rests with your Board of Directors. Ensuring all Board members are comfortable and knowledgeable reading financial reports is crucial. This half-day workshop gave Board members the tools to perform their fiduciary responsibilities. Through small group work and case studies, participants gained a better understanding of financial management and financial control.
Particular areas of learning included:
- Important questions you should ask to ensure your organization has a good budget
- What it means to monitor the finances of an organization
- What type of financial reports should you be receiving, and what you should be looking for
- What are the indicators of the financial health of your organization
- Financial controls you should ensure are in place
- What you should know about the financial audit process
Facilitation: A CPA and Certified Management Accountant, Eric Plato has worked in the nonprofit sector for over 20 years in social services, international development, health, environment, cultural/heritage, and employment. He has contributed as a volunteer, staff, consultant and board member with organizations with annual budgets ranging from under $100,000, to over $100,000,000. Eric’s mandate is to deliver information in a way which makes participants feel more confident and comfortable about finances in their organization. He has delivered training to individuals, small staff groups, and to larger groups of various nonprofit umbrella organizations. Topics have included best practices in budgeting, demystifying the audited financial statements, internal controls in a one person shop, how to spot signs of financial trouble, and measuring what really counts, among others.
For more information on this or any other OCIC workshop, contact Lisa Swainston at admin@ocic.on.ca
