1. We conduct reviews of the financial health of the organisation every 3 to 4 months to track progress and identify areas for improvement.
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2. We have a comprehensive understanding of sources of income and create accurate forecasts to guide financial planning.
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3. We run a system to monitor and control expenses, ensuring that they align with the organisation’s objectives and financial capacity.
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4. We allocate resources based on program priorities and outcomes, ensuring that budget decisions are aligned with the organisation’s mission.
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5. Our team monitor cash flow regularly to ensure that the organisation has sufficient funds to meet its financial obligations and sustain operations.
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6. We have a contingency plan for unforeseen financial challenges, enabling the organisation to adapt to changes in funding and other economic factors.
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7. Our organisation has a culture of transparency and accountability in financial reporting to build trust among stakeholders, including donors, beneficiaries, and the public.
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8. We have a dedicated budget for fundraising activities, taking into account costs associated with various fundraising campaigns and events.
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9. Staff are given the necessary training and resources to understand and manage the organisation’s budget effectively.
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10. We have established a reserve fund and savings goals to prepare for future financial needs and to create a cushion for any unexpected financial challenges.
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11. We regularly monitor and evaluate budget performance against set targets and adjust strategies as needed to ensure financial sustainability.
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12. Our budgeting process involves key stakeholders, such as board members, staff, and donors, in the budgeting process to gain diverse perspectives and ensure buy-in for the organisation’s financial plans.
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13. We develop and adhere to a comprehensive budget that aligns with the organisation’s strategic goals and mission.
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14. Our monthly financial report compares income and expenses to date against budget so we can track our progress.
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15. Leaders have monthly reports of expenses against budget for their area of responsibility.
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