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Financial management is best done strategically. Doing this well without being drawn into micromanagement is a challenge. Below is a menu of questions to help you to fulfill your financial management duties in an effective and helpful way.
- Can we convincingly prove to donors and to ourselves that our spending reflects our priorities?
- How well do we stick with our plans and priorities and did our spending reflect the spending expected in our approved budget?
- What events might force us to deviate from delivering on our priorities this year and next?
- How can we curb spending mid-year if our contributed income fails to meet our goals?
- What are we going to do next year that is different from what we are doing this year and why are we making this change?
- How are we going to balance the budget for next year?
- What are our priorities for this year and have they changed?
- What is the emphasis of our actual budget spending?
- Is our actual spending still consistent with our priorities?
- Are our priorities for the year being executed as expected?
- What course corrections are necessary to ensure we meet our priorities for the year?
- Are there major pledges that we expect to be paid? What could affect their timely payment? Are there major grants we are expecting to receives? What could affect their timely payments?
- Is there a major payment we need to make in the coming months?
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