notes 2-10 - Copy

notes 2-10 - Copy - Non Profit Financial Management Class...

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Non Profit Financial Management Class Notes 2/10/10 Cash Development – Collect money for goods and you deposit them and disrepute them. In the public sector it goes back to public services. Financial management is the life blood of a nonprofit. Cash Management Policy – Executive Director or may be the chief financial officer will be in charge per the b- laws of the organization. There would be a written policy on cash management. It objectifies what is done. It underscores accountability Safety Liquidity - How fast can I get that? CD’s break into them before its maturity rate. Yield You want to find out how much cash you need to operate. Investment officer is not usual in a non-profit organization. Investment choices will probably be made by the finance committee. Establishing a set of internal controls. . Having a policy manual somewhere in the organization. . its an internal control mechanism. Example: Receipts must be given to the organization within 48 hours of purchase. Internal Controls – Limits kickbacks, kickbacks are a form of fraud. Helps control collusion. Your not going to see a specific statement. . you must have an individual sign something saying “you will not do
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notes 2-10 - Copy - Non Profit Financial Management Class...

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