Self Evaluation & Capacity Development Check List
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Self Evaluation & Capacity Development Check List

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    Self Evaluation & Capacity Development Check List Self Evaluation & Capacity Development Check List Presentation Transcript

    • Financial Management Building Blocks for Financial Strength Self Evaluation Check List & Capacity Development Plan I know what this is and why its My organization has this in important. place / has the information. No I In Place Needed Target Elements Category Yes I do don't (Yes) (No) Not Sure Action Needed By Whom Date Element #1 Strong Budget Process 1 Chart of accounts 2 Dollars spent last year and for what purpose. Total revenue received last year (donations & 3 other income sources). Revenue by sources of income, how much 4 was donated, and for what purpose. Profit and loss financial statement (income statement) for last year including In-Kind 5 giving. Most recent three years financial 6 performance. (Income Statements) Projected trends for future financial 7 performance. 8 Budget for the current fiscal year. 9 Program specific budget. Budget verses actual report for current fiscal 10 year to date. 11 Cash flow projection for the rest of the year. 12 Separate bank accounts for federal grants. Accounting system tracks grants and their 13 expenses separately. 14 Amount of cash on had at month end. Restricted and Un-restricted funds are 15 reported. Expenses can be broken down and reported in these categories: Administrative, Fund 16 Raising, and Program Costs. Senior leadership is committed to a budget 17 process and monitors progress. Element #2 Timely Management Reports 18 Indirect cost allocation. Full program costs including direct and 19 indirect costs are calculated. 20 Report timing standards are established. Determination has been made for who needs 21 to receive financial and programmatic reports. selfevaluationcapacitydevelopmentchecklist-100129104337-phpapp01.xls 1 of 4
    • Financial Management Building Blocks for Financial Strength Self Evaluation Check List & Capacity Development Plan I know what this is and why its My organization has this in important. place / has the information. No I In Place Needed Target Elements Category Yes I do don't (Yes) (No) Not Sure Action Needed By Whom Date Element #1 Strong Budget Process 22 We have and review the following reports: Monthly and year-to-date budget to actual 22.1 financials. 22.2 Cash on hand by bank account. Status of restricted funds. How much was 22.3 spent for designated funds, 22.4 In-Kind giving by area. We have and measure key program 22.5 outcomes. Element #3 Strong Internal Controls We have a board approved budget for the 23 current fiscal year. We have a signature authority limit policy in 24 place. We have a policy that sets a check amount 25 limit that would require two signatures. I know who is handling the cash and what 26 procedure they are using. 27 Two people count cash money at all times. The treasurer (or other board member) 28 reviews account reconciliations. Segmentation of duties for financial 29 transactions is reviewed and acted on. How many $'s should be in the restricted fund 30 balance in known every month. We have established performance standards 31 for the following: 31.1 Bill payment and reimbursement 31.2 Deposits 31.3 Receipts 31.4 Filing 31.5 Account Reconciliation Petty cash account balance is reconciled 32 monthly. Days cash to keep on hand guidelines are in 33 place. selfevaluationcapacitydevelopmentchecklist-100129104337-phpapp01.xls 2 of 4
    • Financial Management Building Blocks for Financial Strength Self Evaluation Check List & Capacity Development Plan I know what this is and why its My organization has this in important. place / has the information. No I In Place Needed Target Elements Category Yes I do don't (Yes) (No) Not Sure Action Needed By Whom Date Element #1 Strong Budget Process I know how many days cash we have on 34 hand. Policy that requires three bids on the purchase of items over a defined limit is in 35 place.. Element #4 Consistent & Accurate Documentation Donor receipts include what they have given 36 toward. Bank deposit documentation includes copies of checks, accounting software deposit report, 37 and bank deposit receipt. 38 We document in-kind donations. Accounts payable documentation includes invoice, copy of check or check stub, and 39 appropriate signature authorizing payment. Bank reconciliations are done monthly and 40 signed. Deposit and payable information is neatly filed 41 and kept by year. We have a method to track and trend key 42 program indicators. Element #5 Capacity Development Plan Financial management is included in the 43 organizations strategic and business plan. Key elements for grant readiness have been 44 put in place.: We have a chart of accounts and accounting software that supports segmentation and 44.1 reporting of revenue and expense by grant. We have internal controls that ensure grant 44.2 funds are expended according to the grant. We have capacity to add the additional work not only for grant program implementation, but 44.3 in the accounting and administrative areas. We have systems in place to track 44.4 programmatic grant outcomes. selfevaluationcapacitydevelopmentchecklist-100129104337-phpapp01.xls 3 of 4
    • Financial Management Building Blocks for Financial Strength Self Evaluation Check List & Capacity Development Plan I know what this is and why its My organization has this in important. place / has the information. No I In Place Needed Target Elements Category Yes I do don't (Yes) (No) Not Sure Action Needed By Whom Date Element #1 Strong Budget Process We have a clear idea of the resources we need for the next three years and know where 45 to get it. We have completed an audit by an outside 46 firm. selfevaluationcapacitydevelopmentchecklist-100129104337-phpapp01.xls 4 of 4