Financial Management for US Government Funding
|Early - Aug 31||Regular - Sep 21||Late - Oct 12|
This 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 the Certificate in USAID Assistance Management.
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
Participants at the workshop will earn 15.5 CPE credits and receive a certificate of attendance. The course level is Basic. 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.
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
- Personnel Activity Reports
- Payroll Journal
Managing Time and Facilitating Collaboration
- Preventive Controls
- System of Authorization
- Segregation of Duties
Document / File Systems:
- Filling System Options
- Monthly Closings
- Monthly “Budget vs. Actual” Reporting
- Quarterly “Budget vs. Actual” Reporting
- Budget Management Practices
- Pipeline Reporting
Indirect Costs/Rates and Shared Cost Allocation:
- Provisional and Final Indirect Rates
- Indirect Rate Calculation Methodologies
- Accounting System Requirements
- Shared Cost Allocation Methodologies
- Purpose and Uses of Audited Financial Statements
- Preparing for an Audit
- Areas of Audit Risk
- Supporting & Managing the Audit
- Corrective Action Plans
Closing-Out an Agreement
Next Steps – Priority Setting
Location & Hotel
1120 20th St, NW
Washington, DC 20036
The nearest Metro stop to the workshop is Farragut North on the Red Line. Find a map of the DC metro system here.
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. We recommend attendees look for hotels in the Dupont Circle neighborhood. Check out some suggestions for convenient hotels.