- LEAN APPROACH TO HANDLING MONEY:
- At least three people have access to the bank account where our funds are stored.
- We have a system to track important financial information like funds coming in and funds going out.
- We review finances monthly, an annual financial report is produced at the end of each fiscal year.
- We keep receipts for grant expenses as required in the grant agreement.
- STRATEGIC APPROACH TO HANDLING MONEY, includes the lean approach and also:
- We have rigorous financial control in place.
- Our accounting system meets local and international standards, including funds and program accounting.
- We do an annual audit.
- LEAN APPROACH TO FINANCIAL PLANNING:
- We have a clear and realistic plan for how much we will spend on different programs and activities.
- We are effectively using the resources we have, including volunteer time and in-kind donations.
- FOCUSED APPROACH TO FINANCIAL PLANNING, includes the lean approach and also:
- We have a detailed budget, and track spending against its budget.
- We improve budget accuracy year over year and spending is closely tied to impact.
- We have plans in place in case we can't raise the resources we expected.
- STRATEGIC APPROACH TO FINANCIAL PLANNING, includes the focused approach and also:
- We have a detailed and accurate annual budget including high level categories and allocations by program.
- We do not have regular deficits, or rely on reserves.
- We have several different sources of funding.
- We have a fundraising plan in place, and adequate reserves.
- We have volunteers to do our projects, ways to find new volunteers.
- We have clearly defined roles for volunteers, and do not rely too much on any single volunteer.
- We have ways to support, understand needs and motivations, recognize, train and orient volunteers.
- We balance what volunteers want and need and what our organizations wants and needs.
Resources for volunteer engagement:
- All staff have detailed job descriptions and we understand how staff time will lead to more impact.
- Programs are volunteer-driven, staff enable volunteers, staff work does not replace volunteer work.
- We have the ability to manage staff with the resources planned.
- We are stable already meet high standards for other good practices.
- We follow local laws and regulations for staff.
- We have a staffing plan, a travel policy, a reimbursement policy, and a termination policy.
- We have plans in place to evaluate the effectiveness of staff over time.
LEAN APPROACH TO RESOURCES: For those with smaller and simpler budgets.
FOCUSED APPROACH TO RESOURCES: For those with medium-sized budgets that are more complex
STRATEGIC APPROACH TO RESOURCES: For those with larger or more complex budgets, and staff.