Description:
This course will take participants through the core
elements of financial stability from establishing internal controls to the importance of financial
reports and dashboards. Focus will be given to budgeting best practices including
tools for linking strategic goals and objectives to budget.
Learning Objectives:
- Understand and put in place internal financial controls
- Understand the importance of planning for budgeting
- Become familiar with a budget dashboard and its importance
- Identify revenue sources and determine if further diversification is
needed for financial stability
- Understand two important financial policies
- Introduce dashboards as important management tools
- Understand the importance of cash flow reporting
Abstract:
This course will take participants through the core elements of financial
stability from establishing internal controls to the importance of financial
reports and dashboards. The course covers budgeting best practices
including tools for linking strategic goals and objectives to budget.
Attendees will learn about diversified revenue streams and be able to determine
if further diversification of their association’s revenue sources is
needed. This course links to the Finance Toolkit, Policies Toolkit and
Financial Stability Recipe for Success available through the ADA Leadership
Institute and complements the online course; Revving your Association’s
Revenue.
Outline:
- Elements of Financial Stability
- Financial Controls
- Budget Best Practices
- Sample Budget
- Budget dashboard
- Revenue diversification
- Risk Management and Financial Policies
- Financial reporting
- Financial dashboards
- Importance of Cash Flow Reporting
