Effective Financial Processes
Do the day to day financial processes ensure that invoices are raised on time, money is collected on time, purchases are managed effectively and suppliers, employees and HMRC are paid on time?
Do you have regular forecasts looking forward at the potential income / surplus or deficit and the corresponding cashflow information to identify issues before they become a crisis?
Do you track financial KPI’s that really show the health of your organisation – fundraising streams against budget?
Do you have regular management accounts, including detailed Income and expenditure statement and Balance sheet? Are these compared to a budget or forecast to see how the organisation is performing?
Building Partnerships with your Funders, making sure they have the feedback on the projects they sponsor, ensuring that Restricted Funds are managed correctly, and that unrestricted funds are used in an appropriate manner to support the organisations objectives.
We have vast experience in partnering with social funding organisations, such as Social Investment Business, through Access Points like First Ark, to enable Investment Readiness and access to significant investment funds thereafter.
I HAVE LEARNED OVER THE YEARS THAT WHEN ONE’S MIND IS MADE UP, THIS DIMINISHES FEAR; KNOWING WHAT MUST BE DONE DOES AWAY WITH FEARRosa Parks
5 minute Diagnostic
So how well do you know your organisation? Are you delivering on your aspirations and plans for the future? Do your staff skills match your organisation’s need? Do you understand your finances? Do you have a suitable marketing strategy? Try our 5 minute diagnostic to see how you measure up
Is lack of funding holding your organisation back? We know you are almost certainly accessing grants and trusts, but have you considered Repayable Finance from sources such as Social Investment Business and National & Local voluntary Infrastructure organisations? We have an array of funding partners, so contact us to start a discussion!
THE SECRET OF CHANGE IS TO FOCUS ALL YOUR ENERGY NOT ON FIGHTING THE OLD BUT ON BUILDING THE NEWSocrates