Financial Management for US Government Funding

Learning Opportunities

Workshop

Financial Management for US Government Funding

October 12, 2017 - 9:00am to October 13, 2017 - 5:00pm

Washington , DC , United States

Instructor(s):

Steve Kroll

Language: English

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Training of Trainers

Jan 23 to Jan 25

Washington, DC

Early - Aug 31 Regular - Sep 21 Late - Oct 12
HUMENTUM MEMBERS $820 $925 $1,030
NON-MEMBERS $1,030 $1,135 $1,240

Overview

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

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
CPE Credits

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.

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 & Hotel


InsideNGO
1120 20th St, NW
Suite 520-S
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.