20 quick yes/no questions across your Board, Management, and Bookkeeping. Answer honestly — we'll show you exactly where you stand.
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1. Does the board review and approve all organizational, program and grant budgets, prior to the start of each fiscal year?
2. Are the board members, treasurer and the finance committee all engaged in their commitments and roles?
3. Does the board receive a monthly dashboard report that is easy to interpret and understand?
4. Are the board members and treasurer aware of a need of an operating cash and building maintenance reserve?
5. Does the board or treasurer have a master compliance calendar of deadlines for important filings?
6. Is the board given Governance Policies (conflict of interest, whistleblower, CEO compensation, record retention, etc.)?
7. Does your board receive yearly training on reading and interpreting the financials?
1. Does the Executive Director review and understand the monthly financial reports?
2. Does the Executive Director have oversight and management of internal controls?
3. Does the Executive Director review cash flow, A/R and A/P weekly or monthly?
4. Does the Executive Director sign off monthly on all bank reconciliation reports and know how to match it to the books?
5. Is the Executive Director aware of all restricted donations and the restriction imposed on them?
6. Does the Executive Director, Fund Development, and Program Manager(s) receive monthly actual versus budget reports?
7. Does the Executive Director have oversight of payroll?
1. Is the bookkeeper aware and trained on all grants, tracking requirements, and reporting?
2. Is the bookkeeper experienced and knowledgeable in accrual accounting?
3. Does the bookkeeper keep the books current, reconciled, and produce timely and accurate financial reports?
4. Is the bookkeeper experienced and knowledgeable in functional expense allocations and have a written cost allocation plan?
5. Does the bookkeeper track all in-kind contributions of goods and services?
6. Is the bookkeeper trained and compliant with all Accounting and Internal Control Policies and Procedures?
Board of Directors
-- / 7
Management
Bookkeeping
-- / 6
Overall
-- / 20
Every "No" above is an opportunity — and exactly the kind of gap we help nonprofits close every day.
