Presenting fiscal management principles in an engaging manner

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Abstract

Sometimes viewed as "dry" content, fiscal management principles are important in running a sustainable organization. The Nebraska Volunteer Service Commission has created a training exercise that allows for easy assimilation of these precepts. Janet Schmidt, of the Nebraska Volunteer Service Commission, submitted this effective practice in January 2006.

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Issue

How to present effective program financial management principles in an engaging manner.

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Action

HOW TO CONDUCT THE TRAINING EXERCISE

Preparation

  • Obtain 11 or 12 poster boards. Label the top of each poster board consecutively with the following titles:
    1. Know finanical regulatory and grant requirements
    2. Document your fiscal policies and procedures
    3. Maintain good internal financial controls
    4. Maintain adequate documentation to support expenditures
    5. Maintain responsible cash flow management
    6. Utilize an efficient accounting system
    7. Document and report member location, time, and activities accurately
    8. Meet the grant's match requirements
    9. Document in-kind contributions
    10. Be on time and accurate with program financial reporting
    11. Do multi-site fiscal monitoring

  • On card stock strips, label the items that are to appear under each financial management principle title. For example, under "Know your financial regulatory and grant requirements," list some places to find the regulatory and grant requirements such as the approved program budget, OMB Circulars, Code of Federal Regulations (CFR), and so forth. (For additional answers, see Resources below)

  • Adhere velcro strips on the poster boards and onto the back of the card stock strips so that the labeled card stock strips can be placed under the appropriate financial management principle.

  • Select groups ahead of time so that each groupw will include a programmatic staff person and fiscal staff person.
Day of Training
  • Each group should be given an equal number of the poster boards and be instructed to place under each principle the appropriate items.

  • Place a time limit on the activity and then bring the groups together to review each principle, citing the correct items under each principle.

  • You may want to offer prizes for the group who finishes first and/or for the group who has the most correct answers to add an element of friendly competition.

  • You may also want to factor in time for group disussion and questions.

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Context

Developed to provide an opportunity for grant program staff to receive and hear the same information about fiscal management in an easily assimilable way, this model can be adapted to train staff in programmatic and/or multi-site information as well.

The Nebraska Commission conducts an annual Pre-Award Staff Training for subgrantees. This training provides the subgrantees with start-up program information and presents an opportunity for subgrantees to gather together and share best practices.

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Citation

Information on financial management principles was based on the effective practice, "Implementing sound principles of grantee financial management" by Kristina Tecce, Walker & Company, LLP., in the Resource Center's Effective Practices Collection.

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Outcome

This training exercise:
  • Promotes good group interaction and discussion between program staff

  • Encourages the programmatic and fiscal staff to communicate and understand their joint responsibility in being compliant fiscally

  • Allows financial management principles which can be dry material to be presented in an engaging manner.

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Evidence

One positive change resulting from the use of this training exercise is that at least two of the programs of the Nebraska Volunteer Service Commission have monthly or quarterly meetings occur between the fiscal and program directors to discuss fiscal issues and/or to review program expenditures. This type of communication was not happening on a regular basis before this training was held.

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Posted On

January 10, 2006

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For More Information

Janet Schmidt
Nebraska Volunteer Service Commission
P. O. Box 98927
Lincoln, NE 68509-8927
Phone: 1-800-291-8911

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Resources

For answers to the Effective Program Financial Management Exercise, download the following document:http://www.nationalserviceresources.org/filemanager/download/EpiCenter/FiscalMgmtExerciseAnswers.pdf [38 KB]

Source Documents

Related Practices

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Related sites

Walker & Company, LLP

Topic Areas

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