- It is too difficult to ensure prudent and effective budget utilization.
- You cannot ensure operation within budget today.
- It has not been successful.
- It happens frequently that you run over budget or exceed appropriations.
- There are consequences of that occurring.
- You cannot track budget status and any changes to it.
- It is not an effective process.
- You cannot review historical encumbrance information with ease.
- You are not using any type of encumbrance management system.
- It is not working well.
- It does not integrate with your purchase order system.
- You cannot cross fiscal years in your reporting on encumbrances and other aspects of finance management.
- The organization can’t maintain balanced accounts with confidence.
- Errors occur in inter fund transactions often.
- It does take time and effort to remedy them.
- You must use one chart of accounts or several.
- Financial managers need to know all related accounts.
- Inter fund transactions are reflected in the general ledger.
- You must make sure the information is correct.
- You must be audited and passed successfully.
- Items for correction were not pointed out as a result of the audit.
- You must ensure compliance with FASB regulations.
- It is hard to make or recommend financial decisions.
- Information does not usually serve as the substantiation for financial decisions.
- It is not made available.
- You cannot research grant transaction detail.
- You cannot perform any inquiries regarding encumbrances.
- Your financial management system does not make it easy to review historical information.
- You cannot not report on committed purchases.
- Reports are not accurate.
- You cannot manage your payables control accounts.
- You cannot distribute accounts payable to multiple control accounts.
- Much manual intervention is needed in that process.
Inability to Practice and Demonstrate Responsible Financial Management
Posted by AJ Amjad Khanmohamed July 14, 2017 in Inability to Practice and Demonstrate Responsible Financial Management 
