Happy New Year! Now is the time for the finance department of your nonprofit organization to set its goals for 2023. 6 Resolutions for Nonprofit Finance Departments Resolved:
Distribute monthly financial statements by the 15th of the following month Result: Proper procedures in place result in the distribution of timely and accurate financial statements. Resolved: Create or update your Accounting Policies and Procedures Manual Result: Consistency in applying policies and procedures | Transparency in financial management | Proper safeguarding of financial resources | Compliance with regulatory and accounting requirements | Efficiency in training new employees. Resolved: Schedule an independent assessment of your finance department operations Result: Your operating procedures will be evaluated. Inefficiencies in and lack of internal controls will be identified.
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