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Home » Inability to Practice Responsible and Resource Effective Financial Management

Inability to Practice Responsible and Resource Effective Financial Management

Inability to practice and demonstrate responsible financial management Challenges Difficult to ensure prudent and effective budget utilization. Ensuring operation within budget. Running over budget or exceeding appropriations and consequences. Tracking of budget status and any changes to it. Reviewing of historical encumbrance information with ease. Using of any encumbrance management system, and how well it works. Integration of encumbrance management system with purchase order system. Crossing of fiscal years in reporting on encumbrances and other aspects of finance management. Maintenance of balanced accounts with confidence. Occurrence of errors in interfund transactions and time taken to remedy them. Use of one…

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