- Grants and funding sources don’t have optimal value and leverage.
- You do not assess grant performance well.
- You do not know what steps you can take to improve grant performance.
- Reporting tools for grant performance are not available to you.
- You do not track costs during the life cycle of a grant effectively.
- You do not receive the grants you apply for with enough frequency.
- You do not know the reasons for not succeeding with grant applications.
- You do not know how to ensure compliance with government regulations for grant management. You cannot demonstrate that compliance is complete.
- You do not currently calculate the grant amounts used.
- You cannot go across fiscal years in reporting on grants and their performance.
- Your current typical costs of obtaining and administrating grants as a percentage of the total grant amounts are too high.
- Financial management is not responsive enough to the changing needs of Sponsors and causes.
- You cannot easily adjust to regulatory changes.
- New laws and regulations often force you to make changes in financial management.
- You do not effectively ensure that your financial management is in agreement with sponsor guidelines and requirements.
- You cannot report such compliance to sponsors.
- You do not accommodate changes in their requirements well.
- You have spent grant money in conflict with granter guidelines or requirements.
- You do not effectively evaluate the success of programs and processes.
- You do not know how to go about improving or eliminating those that deliver low value or have slow response times.
- Sponsors, granters, and membership are generally unaware of grant performance and the strengths of your financial management.
- Financial management is lacking in efficiency.
- The level of duplication in your financial management system today is too high.
- There are a lot of manual processes.
- Financial management is not centralized for the entire organization.
- You do not feel that your financial managers make a strong contribution to the organization’s long-term success.
- You do not receive their input at a strategic level.
- You do not use any automation in financial management at all, say, to balance accounts and limit spending.
- It takes too long to reconcile the books at the end of the reporting period.
- The user software environment is not comfortable and conducive to high personal productivity and motivation.
Budget Finance
Posted by AJ Amjad Khanmohamed
June 28, 2017
in Unable to Use Financial Management to Fulfill the Organizational Mission Productively