Financial Management for US Government Funding

Learning Opportunities

Workshop

Financial Management for US Government Funding

March 09, 2017 - 9:00am to March 10, 2017 - 5:00pm

Washington , DC , United States

Instructor(s):

Steve Kroll

Language: English

Related Events

Roundtable
Workshop

Training of Trainers

Jan 23 to Jan 25

Washington, DC

Early - Jan 26 Regular - Feb 16 Late - Mar 09
NON-MEMBERS $1,030 $1,135 $1,240
HUMENTUM MEMBERS $820 $925 $1,030

Overview

This two-day workshop helps individuals and organizations develop, implement, and maintain effective financial management systems in order to be eligible for US Government funding, reduce audit risk, and build effective collaboration across the organization. If your NGO is a prime and/or subrecipient of grants, cooperative agreements, and/or contracts, this highly participatory program offers you and your team the most comprehensive knowledge of the fundamentals of financial management of US Government funding, including budget management, maximizing cost recovery, and how to deal with donor audits and reviews.

Note: This training fulfills one of three required courses for InsideNGO's Certificate in USAID Assistance Management

PREREQUISITE(S)

USAID RULES & REGULATIONS: GRANTS & COOPERATIVE AGREEMENTS OR USAID CONTRACT MANAGEMENT FOR NGOS: AN INTRODUCTION

Who Should Attend

  • Finance, compliance, and program staff who manage budgets and reconcile activity costs with program budgets
  • We highly recommend that both finance and program staff from within an organization attend together

What You Will Learn

This workshop is an exploration of the skills you need for financial management of US Government funds. You will learn how to: 

  • Identify accounting system basics required to be eligible for US Government funding
  • Compile and assess accurate financial statements
  • Prepare and manage the audit process according to funding guidelines
  • Develop and manage budgets in support of programmatic success
  • Apply methods for recovering indirect costs

The Inside NGO Advantage 

For 40 years, InsideNGO has been “inside” the NGO community, supporting organizations as they address the world’s most pressing social issues. We are widely recognized as the leader in US government assistance compliance training. Our training activities are designed to help you and your organization build capacity, strengthen decision-making, develop more efficient systems, and identify effective solutions to important challenges. Our learning programs are modeled on the best practices in adult learning. In today’s complex operating environment, learning has never been more important, and we take great pride in being your partner in professional and organizational development.  

CPE Credits

Participants at the workshop will earn 15.6 CPE credits and receive a certificate of attendance. The course level is Intermediate. Please see the Description tab for information on course pre-requisites. The delivery method of this program is Group Live and the Field of Study is Specialized Knowledge.

InsideNGO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

DAY 1


Financial Management Fundamentals:

  • The Importance of Good Financial Management
  • Elements of a Strong Financial Management System

Cost Proposals (Budgets) to Support Program Descriptions:

  • Budget Notes Development
  • Budget Review – Comparing Budget and Program Description
  • Relationship between Budget and Chart of Accounts
  • Cost Share

Daily Transactions and Internal Controls:

  • Petty Cash
  • Daily Entries
  • Job Cost Accounting

Timekeeping Systems:

  • Personnel Activity Reports
  • Payroll Journal

Managing Time and Facilitating Collaboration

Managing Risk:

  • Preventive Controls
  • System of Authorization
  • Segregation of Duties

Document / File Systems:

  • Filling System Options
  • Monthly Closings

 

DAY 2


Budget Management:

  • Monthly “Budget vs. Actual” Reporting
  • Quarterly “Budget vs. Actual” Reporting
  • Budget Management Practices
  • Pipeline Reporting

Indirect Costs/Rates and Shared Cost Allocation:

  • Overview
  • Provisional and Final Indirect Rates
  • Indirect Rate Calculation Methodologies
  • Accounting System Requirements
  • Shared Cost Allocation Methodologies

Financial Statements:

  • Purpose and Uses of Audited Financial Statements

Donor Audits:

  • Preparing for an Audit
  • Areas of Audit Risk
  • Supporting & Managing the Audit
  • Corrective Action Plans

Closing-Out an Agreement

Next Steps – Priority Setting

Location

Independent Sector
1602 L Street, NW
Washington, DC 20036

The nearest Metro stops to the workshop are Farragut North on the Red Line and Farragut West on the Orange, Blue, and Silver lines. Click here for a map of the DC metro system.


Hotel

Participants are responsible for making and paying for their own hotel/lodging arrangements. We have found that www.hotels.com usually offers comparable or even lower rates than we are able to negotiate. Check out some options for nearby hotels.