As a Not for Profit charitable organisation, it is imperative to ensure that we manage the funding given by various organisations so that it meets the goals of the agreed program delivery. This includes making sure that the programs are not overburdened by administrative costs that are not conducive to meeting program goals. This means that non-program administrative costs need to be stringently controlled and monitored to ensure that program funds are not used to subsidise organisational overheads.
By ensuring that all transactions are correctly accounted for and allocated to the correct program, our organisation was able to manage the program funding in accordance with the governance requirements of the program and ensure that appropriate levels of overheads were allocated to each program.
As an organisation, we are better able to use the reports provided on a regular basis to provide more timely management decisions as part of the program governance process. Additionally, having a sound financial reporting process in place enables us to focus on delivering more great health promotion outcomes!