Basic Components of a Fiscal Management System

1._______________ The process of identifying the resources that are needed to implement the strategic plan.

• The accounting system:     

• Cash management:

• Budget management:  

•  Financial planning:

2. _______________ The system for developing, approving and managing the

                           budget.

• The accounting system:                 

• Cash management:

• Budget management:                    

• Financial planning:

3._______________ The system for ensuring that the organization has sufficient cash to meet its needs.

• Financial planning:

• Budget management:                    

• Cash management:

• The accounting system:                 

4._______________ a system that conforms to fiscal policies and procedures

                         approved by the board or the governing body.

• The accounting system:                 

• Cash management:

• Financial planning:

• Budget management:                    

5._______________ the operation of compensation of employees. It includes controls on hiring, firing and salary adjustments.

• Payroll:                                       

• Accounts receivable:

• Accounts payable:              

• Purchasing and fixed assets:              

6._______________ the system used to manage the amounts owed to the organization  by its customers.

• Payroll:                                       

• Accounts receivable:

• Accounts payable:              

• Purchasing and fixed assets:              

7._______________ the system for managing the amounts paid out to the organization’s vendors.

• Payroll:                                       

• Accounts receivable:

• Accounts payable:              

• Purchasing and fixed assets:              

8._______________ the systems that control the buying of and accounting

                         for assets or equipment.

• Purchasing and fixed assets:              

• Accounts payable:              

• Reporting:                                   

• Financial planning:

9._______________ the system for ensuring compliance with requirements of

                        grants or contracts.

• Grants management:                

• Cost allocation plan:                 

• Payroll:                                       

• Budget management:                    

10.______________ the method for allocating revenue and expenses to the

                        organizational divisions or functional areas.

• Financial planning:

• Purchasing and fixed assets:              

• The accounting system:                 

• Cost allocation plan: