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Financial management
for NGOs
Financial planning
“Failing to plan is planning to fail“
www.mango.org.uk
www.mango.org.uk
Did you know that there are
4 essential building blocks
in a strong financial management
system?
www.mango.org.uk
This is about keeping an accurate
and complete record of all financial
transactions – for accountability
...
www.mango.org.uk
We have to plan ahead to make
sure we have the money we need
to achieve our objectives, now and
in the fu...
www.mango.org.uk
This is about keeping track of
progress against our plans and
sharing how we are doing with key
stakehold...
www.mango.org.uk
We have a duty to protect our
financial resources and staff from
internal risks such as accidents,
theft ...
www.mango.org.uk
 This slideshow
looks at the
financial planning
process.
www.mango.org.uk
So what does the
financial planning
process involve?
www.mango.org.uk
Take a moment to write
down 3 things that financial
planning involves before
moving to the next
slide to ...
www.mango.org.uk
 Operational
budgets
Long-
term
Short-
term
T i m e f r a m e
 We need budgets for all operations:
proj...
www.mango.org.uk
 Fundraising
plans
Long-
term
Short-
term
T i m e f r a m e
 Fundraising plans set out
where we hope to...
www.mango.org.uk
 Financing
strategy
Long-
term
Short-
term
T i m e f r a m e
 A financing strategy is a
long-term plan ...
www.mango.org.uk
 Monitoring
budgets
 Forecasting
cash needs
Long-
term
Short-
term
T i m e f r a m e
 Contingency
plan...
www.mango.org.uk
T i m e f r a m e
 Financial planning is all
about planning to use
money well – now and in
the future.
...
www.mango.org.uk
Review
Receive &
spend project
funds
Set your
budgets
Compare the
budget with
actual activity
Take action...
www.mango.org.uk
 In your experience, what
makes a great budget?
Make some notes and then
see if you agree with our
ideas...
www.mango.org.uk
 User friendly: clear information, easy to
read
 Accurate and complete: include all costs
associated wi...
www.mango.org.uk
Top tips on how to
create great
budgets
www.mango.org.uk
 Get all the information you need
ready in advance, eg activity plans,
quantities and prices
 Start ear...
www.mango.org.uk
2. Work as a team
 Don’t leave the budget-setting to
the finance folk!
 The best budgets are written wi...
www.mango.org.uk
 Write down your budgeting
assumptions, eg inflation and
exchange rates used
 Attach price quotations
...
www.mango.org.uk
4. Clear and justified
calculations
 Use a budget worksheet (see next
slide) to create a clear and detai...
www.mango.org.uk
The layout of a budget worksheet
Check out Mango’s Guide to Financial Management for a
detailed example
www.mango.org.uk
5. Include all costs
 Make sure you include all costs
associated with the project, both
direct and share...
www.mango.org.uk
6. Find a ‘budget
buddy’
 Get someone to check your budget
before you send it off – it is too
easy to ma...
www.mango.org.uk
Want to lean more about budgeting?
Then join us on one of our practical and fun
courses soon.
Budgeting e...
www.mango.org.uk
Find out more about Mango
and free resources for NGOs
http://www.mango.org.uk/Guide
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Mango: Financial planning for NGOs

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An introduction to financial planning and budgeting from Mango, the leading non-profit that helps NGOs do more with their money. This is the second in a series of slideshows that introduce the essentials of financial management for NGOs.

Mango: Financial planning for NGOs

  1. 1. Financial management for NGOs Financial planning “Failing to plan is planning to fail“ www.mango.org.uk
  2. 2. www.mango.org.uk Did you know that there are 4 essential building blocks in a strong financial management system?
  3. 3. www.mango.org.uk This is about keeping an accurate and complete record of all financial transactions – for accountability and transparency.
  4. 4. www.mango.org.uk We have to plan ahead to make sure we have the money we need to achieve our objectives, now and in the future.
  5. 5. www.mango.org.uk This is about keeping track of progress against our plans and sharing how we are doing with key stakeholders.
  6. 6. www.mango.org.uk We have a duty to protect our financial resources and staff from internal risks such as accidents, theft and fraud. We do this by implementing a series of commonsense controls and checks.
  7. 7. www.mango.org.uk  This slideshow looks at the financial planning process.
  8. 8. www.mango.org.uk So what does the financial planning process involve?
  9. 9. www.mango.org.uk Take a moment to write down 3 things that financial planning involves before moving to the next slide to see our ideas ... Go on when ready
  10. 10. www.mango.org.uk  Operational budgets Long- term Short- term T i m e f r a m e  We need budgets for all operations: projects, programmes, central support. Budgets can be for any period of time, typically one year.
  11. 11. www.mango.org.uk  Fundraising plans Long- term Short- term T i m e f r a m e  Fundraising plans set out where we hope to get the money we need to support our operations over a 1 to 3- year period.
  12. 12. www.mango.org.uk  Financing strategy Long- term Short- term T i m e f r a m e  A financing strategy is a long-term plan (3 to 5 years) which sets income and reserves targets and sets out how they will be achieved.
  13. 13. www.mango.org.uk  Monitoring budgets  Forecasting cash needs Long- term Short- term T i m e f r a m e  Contingency planning During programme implementation, financial planning continues, eg with monthly cash forecasts, budget monitoring and risk management.
  14. 14. www.mango.org.uk T i m e f r a m e  Financial planning is all about planning to use money well – now and in the future.  Operational budgets  Financing strategy  Fundraising plans  Forecasting cash needs Long- term Short- term  Monitoring budgets  Contingency planning
  15. 15. www.mango.org.uk Review Receive & spend project funds Set your budgets Compare the budget with actual activity Take action as needed to get back on track
  16. 16. www.mango.org.uk  In your experience, what makes a great budget? Make some notes and then see if you agree with our ideas ... Go on when ready
  17. 17. www.mango.org.uk  User friendly: clear information, easy to read  Accurate and complete: include all costs associated with the project or activity, no errors  Fit for purpose: the right level of detail for the reader. The best budgets are:
  18. 18. www.mango.org.uk Top tips on how to create great budgets
  19. 19. www.mango.org.uk  Get all the information you need ready in advance, eg activity plans, quantities and prices  Start early and allow time for reviews and revisions. 1. Be organised
  20. 20. www.mango.org.uk 2. Work as a team  Don’t leave the budget-setting to the finance folk!  The best budgets are written with the help of those who will use them.
  21. 21. www.mango.org.uk  Write down your budgeting assumptions, eg inflation and exchange rates used  Attach price quotations  Ask yourself: would other people be able to understand my budget? 3. Keep clear notes
  22. 22. www.mango.org.uk 4. Clear and justified calculations  Use a budget worksheet (see next slide) to create a clear and detailed budget, showing all calculations  Research prices, don’t make them up!
  23. 23. www.mango.org.uk The layout of a budget worksheet Check out Mango’s Guide to Financial Management for a detailed example
  24. 24. www.mango.org.uk 5. Include all costs  Make sure you include all costs associated with the project, both direct and shared costs: • Eg Staff recruitment & training, employer’s taxes, Board expenses, maintenance, central support contribution ...
  25. 25. www.mango.org.uk 6. Find a ‘budget buddy’  Get someone to check your budget before you send it off – it is too easy to make a calculation error or to leave out something important.
  26. 26. www.mango.org.uk Want to lean more about budgeting? Then join us on one of our practical and fun courses soon. Budgeting essentials eWorkshop now available! http://www.mango.org.uk/training training@mango.org.uk
  27. 27. www.mango.org.uk Find out more about Mango and free resources for NGOs http://www.mango.org.uk/Guide

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