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transcript
Roles and Responsibilities of the CAP Finance Department 1
© Wipfli LLP 1
Roles and Responsibilities of the CAP Finance Department
Trainer: Katherine Eilers, CPA, Manager
© Wipfli LLP
© Wipfli LLP
No Recordings of Any Kind
2
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Roles and Responsibilities of the CAP Finance Department 2
© Wipfli LLP
Materials/Disclaimer
Please note that these materials are incomplete without the accompanying oral comments by the trainer(s).
These materials are informational and educational in nature and represent the speakers' own views. These materials are for the purchasing agency’s use only and not for distribution outside of the agency or publishing on a public website.
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© Wipfli LLP
Goals for the session
Help think about what you and fiscal staff should be doing
Address obstacles & provide solutions to consider
Provide an opportunity to plan how to get more done
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Roles and Responsibilities of the CAP Finance Department 3
© Wipfli LLP
Do you receive/have these questions or comments?
• Why don’t I have a budget?• Why don’t I have a cash flow statement?• We don’t know our cash position.• Why can’t I get financial information sooner?• Reports have too much or too little detail. • We don’t know when we have new grants until
there is a bill to be paid.• Fiscal procedures change and we don’t know
what they are.• Fiscal does not receive all information needed
Questions or concerns
5
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Your concerns – Worksheet
What is not getting done?
What are you putting off until you have more
time?
What is holding you back from successfully carrying out your job?
6
Roles and Responsibilities of the CAP Finance Department 4
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Worksheet – What is not getting done?
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What are the obstacles?
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Roles and Responsibilities of the CAP Finance Department 5
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Examples of obstacles
• Too many spreadsheets• Several systems or databases• Duplicate (triplicate) data entry
Technology
• Multiple review and approval steps• Time-consuming forms• Too many process steps
Processes
• Who does what?• Is every position working at the correct level?
Task assignment
• It’s what we have always done• Dated documentation (SOPs, P&Ps)Legacy
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What must be done?
General responsibilities of Fiscal dept.
Planning & analysis
Manage cash flow
Prepare financial statements
Process transactions
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Roles and Responsibilities of the CAP Finance Department 6
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What must be done?
Chief Financial Officer• Strategic planning• Budgeting• Contract negotiations• Organizing resources• Financial reports• Board needs
Accounting Supervisor• Operational efficiency• Internal control• Policies & procedures• Grant reports• Reviews & approvals
Accountants• Transactional responsibilities• Accounts payable• Payroll• Record cash receipts
11
Typical responsibilities of Fiscal roles
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Worksheet – What are the obstacles?
12
Roles and Responsibilities of the CAP Finance Department 7
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Obstacles and Solution Options
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Obstacles and Solution Options
Obstacle
• Don’t have a budget. No cash flow information. Don’t know cash position.
Solution Options
• Establish a budget timeline– Start several months prior to due date
• Program & Fiscal must be involved• Start with strategic plan, priorities• Org-wide to monthly cash flow• Change frequency of cash
reconciliation14
Roles and Responsibilities of the CAP Finance Department 8
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Obstacles and Solution Options
Obstacle
• Managers need real-time information. Level of detail is too much/too little.
Solution Options
• Provide read-only access of accounting system to executive staff and/or managers; access for her/his specific program or department
• Allow managers to determinedetail needed
• Review chart of accounts
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Obstacles and Solution Options
Obstacle
• Fiscal staff doesn’t know what’s coming so they aren’t ready for changes.
Solution Options
• Hold regular SHORT meetings– Facilitate flow of information– Gain better understanding of what information is
needed by program and fiscal– Understand limitations of what can
be provided by program and fiscal
• Who should attend?
16
Roles and Responsibilities of the CAP Finance Department 9
© Wipfli LLP
Obstacles and Solution Options
Obstacle
• While on the topic of meetings…and emails
Solution Options
• Could it have been an email?– Break in productivity
• Set parameters for when emails will be addressed– Certain times of day– DDD – Do, Discard, Delegate– Use Outlook? Create folders
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Obstacles and Solution Options
Obstacle
• Senior fiscal managers are performing tasks outside her/his position
Solution Options
• Reassign responsibilities– Start by streamlining the tasks of staff in
other positions so they have capacity– Work up the org chart to streamline and reassign
tasks and responsibilities; process review– This will create capacity at every level so tasks
can be reassigned
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Roles and Responsibilities of the CAP Finance Department 10
© Wipfli LLP
Obstacles and Solution Options
Obstacle
• Senior fiscal managers are performing tasks outside her/his position (cont.)
Solution Options
• Review all tasks performed in the Finance Dept. for appropriateness– Should HR be doing tasks performed by Finance?– Should tasks be done in the
program area?
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Obstacles and Solution Options
Obstacle
• Small organizations have few fiscal staff members
Solution Options• The CFO will be more involved in daily
transactions than in a larger organization– Reviews and approvals– Reconciliations and financial
statement preparation
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Roles and Responsibilities of the CAP Finance Department 11
© Wipfli LLP
Obstacles and Solution Options
Obstacle
• Small organizations have few fiscal staff members (cont.)
Solution Options
• Bring other staff into fiscal processes– Receptionist prepares bank deposits; vendor
maintenance– CEO reviews journal entries– Board or Finance Chair review or approve
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Obstacles and Solution Options
Obstacle• Information received by fiscal is incomplete;
increases processing time
Solution Options
• Connect with staff regarding missing info – Internal control; accountability– Consider the non-value add cost
22
Roles and Responsibilities of the CAP Finance Department 12
© Wipfli LLP
Obstacles and Solution Options
Obstacle• Program staff doesn’t accept new procedures
Solution Options• Training on policy and procedure changes
– Make sure the reason for the change is clear– Provide training information so managers can train
their staff– Provide information in a central location (shared
server, intranet) so it can be referred to as needed by staff
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Don’t assume that just because you provided training, staff learned it
© Wipfli LLP
Obstacles and Solution Options
Obstacle• Program staff doesn’t accept new procedures
(cont.)
Solution Options
• What is the culture of the organization?• What is unfolding in the organization?• Why is there a resistance to change?• What has the management group allowed?• How has management made sure the staff is
appropriately prepared?
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Roles and Responsibilities of the CAP Finance Department 13
© Wipfli LLP
An Age Old Question
What prevents an employee from achieving effective levels of performance?
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Why don’t employees do what they are supposed to do?!
© Wipfli LLP
Top 5 Responses
They don’t know what they are
supposed to do
They don’t know how to do it
They don’t know why they should
do it
There are obstacles
beyond their control
They don’t think it will work
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Roles and Responsibilities of the CAP Finance Department 14
© Wipfli LLP
Performance Management
• The process of creating and maintaining an environment of accountability (the organization, the manager, and the employee) to enable employees to perform to the best of their abilities.
• A whole system that begins when an individual assumes a position and ends when an individual leaves the organization.
What is performance management?
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Let’s look at some examples
Who should do what?
Roles and Responsibilities of the CAP Finance Department 15
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EXAMPLE #1
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EXAMPLE #2
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Roles and Responsibilities of the CAP Finance Department 16
© Wipfli LLP
Next steps? Your plans for change
Map out tasks (see next slide)
Obstacles-What steps
can you take to begin removing
them?
How will you get started?
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Next steps? Mapping
List out main tasks
Determine roles, positions
Assign tasks• Separate
preparation, review, approvals where possible
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Roles and Responsibilities of the CAP Finance Department 17
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Worksheet – What are your next steps?
33
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For Information on How We Can Help
Visit the Wipfli Q&A Booth for more details or email
gfpbd@wipfli.com
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Roles and Responsibilities of the CAP Finance Department 18
© Wipfli LLP
www.wipfli.com/ngp
35
Regulation questionsAudit
ProcessHuman Resource
TechnologyLeadership
Connect with me:
www.linkedin.com/in/katherineeilers
www.facebook.com/WipfliNGP
@KatherineEilers
Bring Wipfli to You:Kate D. Atkins, MSkatkins@wipfli.com
608.270.2944
My Wipfli – Access to our experts:
www.wipfli.com/mywipfli
© Wipfli LLP
Please be sure to complete the evaluation for this session online,
via the 2019 CAP Annual Convention Event App.
Thanks in Advance for your Cooperation!
EVALUATIONS
The Partnership Wants Your Feedback!
36
Reference Materials
NONPROFIT AND GOVERNMENT PRACTICE
www.wipfli.com/ngp | 888.876.4992
Reproduction or use of any training materials in this manual, except within a participant’s agency without express written permission is prohibited by copyright law. © Wipfli LLP
Roles and Responsibilities of the
CAP Finance Department
Presented by:
Katherine Eilers, CPA, Manager
Roles and Responsibilities in the Finance Department
Prepared by Wipfli LLP July 2019
Challenges of Getting Things Done in the Finance Department
What is not getting done? Be as specific as possible. Obstacles Next Steps
1.
2.
3.
Rol
es a
nd R
espo
nsib
ilitie
s in
the
Fina
nce
Dep
artm
ent
Pr
epar
ed b
y W
ipfli
LLP
Augu
st 2
019
Exam
ples
of F
inan
ce D
epar
tmen
t Rol
es &
Res
pons
ibili
ties
CEO
(Acc
ount
ing
resp
onsi
bilit
ies)
C
FO
Seni
or A
ccou
ntan
ts
Acc
ount
ing
Staf
f •
Ensu
re e
ffect
ive
inte
rnal
con
trols
ar
e in
pla
ce
• R
evie
w fi
nanc
ial i
nfor
mat
ion
incl
udin
g Bo
ard
and
Prog
ram
re
ports
•
Prov
ide
inpu
t and
revi
ew o
n bu
dget
s •
Rev
iew
and
app
rove
Per
sonn
el
Cha
nge
Form
s an
d ot
her
docu
men
ts a
s re
quire
d by
or
gani
zatio
n po
licy
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Res
pons
ible
for o
vera
ll m
anag
emen
t of:
o
Acco
untin
g o
Fa
cilit
ies
o
Info
rmat
ion
Tech
nolo
gy
o
Proc
urem
ent
• R
evie
w fi
nanc
ial s
tate
men
ts a
nd
budg
ets
• R
evie
w a
nd a
ppro
ve jo
urna
l en
tries
pre
pare
d by
the
Seni
or
Acco
unta
nts
• W
ork
clos
ely
with
the
CEO
and
th
e Pr
ogra
m D
irect
ors
to b
udge
t fo
r spe
cific
pro
gram
s an
d th
e ov
eral
l org
aniz
atio
n •
Mee
t mon
thly
with
Pro
gram
D
irect
ors
to re
view
cur
rent
fin
anci
al re
sults
and
dis
cuss
an
ticip
ated
cha
nges
•
Prep
are
and
pres
ent B
oard
and
Fi
nanc
e C
omm
ittee
repo
rts
• M
anag
e ba
nkin
g re
latio
ns
• M
anag
e in
sura
nce
need
s in
co
njun
ctio
n w
ith th
e H
R D
irect
or
• Pe
rform
on-
goin
g an
alys
is a
nd
fore
cast
ing
• O
vers
ee th
e re
tirem
ent p
lan
audi
t •
Ensu
re e
xter
nal r
epor
ts a
re
timel
y an
d ac
cura
te
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Supe
rvis
e an
d tra
in th
e Ac
coun
ting
Staf
f •
Rev
iew
and
app
rove
tra
nsac
tions
•
Appr
ove
chec
k ru
ns a
nd
disb
urse
men
t of f
unds
•
Appr
ove
bank
tran
sfer
s •
Rev
iew
and
app
rove
re
conc
iliatio
ns p
repa
red
by th
e ac
coun
ting
staf
f •
Back
up
acco
untin
g st
aff d
utie
s as
nee
ded
• R
econ
cile
ban
k ac
coun
ts (o
r ov
erse
e th
e re
conc
iliatio
n pr
oces
s)
• Pr
epar
e, re
view
and
app
rove
jo
urna
l ent
ries
• Pr
epar
e fin
anci
al re
ports
•
Mee
t mon
thly
with
Pro
gram
M
anag
ers
to re
view
cur
rent
fin
anci
al re
sults
and
dis
cuss
an
ticip
ated
cha
nges
•
Wor
k w
ith th
e au
dito
rs o
n th
e an
nual
fina
ncia
l sta
tem
ent/s
ingl
e au
dit
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Perfo
rm d
aily
tran
sact
ion
proc
essi
ng, i
nclu
ding
: o
Ac
coun
ts p
ayab
le e
ntry
o
R
ecor
d ca
sh re
ceip
ts
o
Payr
oll
• R
econ
cile
acc
ount
s pa
yabl
e an
d ac
coun
ts re
ceiv
able
with
su
bsid
iary
ledg
ers
• M
aint
ain
Foun
datio
n ac
coun
ting
reco
rds
• In
itiat
e ba
nk tr
ansf
ers
Rol
es a
nd R
espo
nsib
ilitie
s in
the
Fina
nce
Dep
artm
ent
Pr
epar
ed b
y W
ipfli
LLP
Augu
st 2
019
Exam
ples
of F
inan
ce D
epar
tmen
t Rol
es &
Res
pons
ibili
ties –
Sm
all O
rgan
izat
ion
CEO
and
/or B
oard
Mem
ber
(Acc
ount
ing
resp
onsi
bilit
ies)
A
ccou
ntin
g M
anag
er
Acc
ount
ant /
Boo
kkee
per
Non
-Fis
cal S
taff
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Res
pons
ible
for o
vera
ll m
anag
emen
t of:
o
Faci
litie
s o
In
form
atio
n Te
chno
logy
•
Rev
iew
fina
ncia
l inf
orm
atio
n in
clud
ing
Boar
d an
d Pr
ogra
m
repo
rts
• R
evie
w fi
nanc
ial s
tate
men
ts a
nd
budg
ets
• R
evie
w a
nd a
ppro
ve jo
urna
l en
tries
pre
pare
d by
the
Seni
or
Acco
unta
nts
• M
anag
e ba
nkin
g re
latio
ns
• M
anag
e in
sura
nce
need
s in
co
njun
ctio
n w
ith th
e H
R D
irect
or
• Pr
ovid
e in
put a
nd re
view
on
budg
ets
• R
evie
w a
nd a
ppro
ve P
erso
nnel
C
hang
e Fo
rms
and
othe
r do
cum
ents
as
requ
ired
by
orga
niza
tion
polic
y
• R
evie
w a
nd a
ppro
ve
reco
ncilia
tions
•
Sign
che
cks,
app
rove
EFT
di
sbur
sem
ents
, app
rove
ban
k tra
nsfe
rs
• Pr
epar
e ba
nk d
epos
its
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Res
pons
ible
for o
vera
ll m
anag
emen
t of:
o
Acco
untin
g o
Pr
ocur
emen
t •
Wor
k cl
osel
y w
ith th
e C
EO a
nd
the
Prog
ram
Dire
ctor
s to
bud
get
for s
peci
fic p
rogr
ams
and
the
over
all o
rgan
izat
ion
• Su
perv
ise
and
train
the
Acco
untin
g St
aff
• M
eet m
onth
ly w
ith P
rogr
am
Dire
ctor
s to
revi
ew c
urre
nt
finan
cial
resu
lts a
nd d
iscu
ss
antic
ipat
ed c
hang
es
• Pr
epar
e an
d pr
esen
t Boa
rd a
nd
Fina
nce
Com
mitt
ee re
ports
•
Perfo
rm o
n-go
ing
anal
ysis
and
fo
reca
stin
g •
Appr
ove
chec
k ru
ns a
nd
disb
urse
men
t of f
unds
•
Ove
rsee
the
retir
emen
t pla
n au
dit
• En
sure
ext
erna
l rep
orts
are
tim
ely
and
accu
rate
•
Rev
iew
and
app
rove
tra
nsac
tions
•
Back
up
acco
untin
g st
aff d
utie
s as
nee
ded
• W
ork
with
the
audi
tors
on
the
annu
al fi
nanc
ial s
tate
men
t/sin
gle
audi
t
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Prep
are
and
revi
ew jo
urna
l en
tries
•
Prep
are
finan
cial
repo
rts
• Pe
rform
dai
ly tr
ansa
ctio
n pr
oces
sing
, inc
ludi
ng:
o
Acco
unts
pay
able
ent
ry
o
Rec
ord
cash
rece
ipts
o
Pa
yrol
l •
Mai
ntai
n Fo
unda
tion
acco
untin
g re
cord
s •
Initi
ate
bank
tran
sfer
s •
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls
are
in p
lace
•
Rec
onci
le a
ccou
nts
paya
ble
and
acco
unts
rece
ivab
le w
ith
subs
idia
ry le
dger
s •
Rec
onci
le b
ank
acco
unts
•
Mai
ntai
n ve
ndor
dat
abas
e
Rol
es a
nd R
espo
nsib
ilitie
s in
the
Fina
nce
Dep
artm
ent
Pr
epar
ed b
y W
ipfli
LLP
Augu
st 2
019
Exam
ples
of F
inan
ce D
epar
tmen
t Rol
es &
Res
pons
ibili
ties –
Sm
all O
rgan
izat
ion
CEO
and
/or B
oard
Mem
ber (
Acco
untin
g re
spon
sibi
litie
s)
Acc
ount
ant /
Boo
kkee
per
Non
-Fis
cal S
taff
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls a
re in
pla
ce
• R
espo
nsib
le fo
r ove
rall
man
agem
ent o
f: o
Ac
coun
ting,
incl
udin
g pr
ocur
emen
t o
Fa
cilit
ies
o
Info
rmat
ion
Tech
nolo
gy
• R
evie
w fi
nanc
ial i
nfor
mat
ion
incl
udin
g Bo
ard
and
Prog
ram
repo
rts
• O
vers
ee fi
nanc
ial s
tate
men
t aud
it w
ork
• O
vers
ee th
e re
tirem
ent p
lan
audi
t •
Ove
rsee
oth
er fi
scal
aud
its a
nd m
onito
ring
visi
ts
• R
evie
w fi
nanc
ial s
tate
men
ts
• R
evie
w a
nd a
ppro
ve b
udge
ts
• R
evie
w a
nd a
ppro
ve jo
urna
l ent
ries
• M
anag
e ba
nkin
g re
latio
ns
• M
anag
e in
sura
nce
need
s •
Rev
iew
and
app
rove
Per
sonn
el C
hang
e Fo
rms
and
othe
r doc
umen
ts a
s re
quire
d by
or
gani
zatio
n po
licy
•
Rev
iew
and
app
rove
reco
ncilia
tions
•
Sign
che
cks,
app
rove
EFT
dis
burs
emen
ts,
appr
ove
bank
tran
sfer
s •
Supe
rvis
e an
d tra
in th
e Ac
coun
ting
Staf
f •
Appr
ove
chec
k ru
ns a
nd d
isbu
rsem
ent o
f fu
nds
•
Back
up
acco
untin
g st
aff d
utie
s as
nee
ded
• R
evie
w a
nd a
ppro
ve tr
ansa
ctio
ns
• Pe
rform
on-
goin
g an
alys
is a
nd fo
reca
stin
g •
Rev
iew
ext
erna
l fin
anci
al re
ports
for t
imel
ines
s an
d ac
cura
cy
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls a
re in
pla
ce
• Pr
epar
e an
d re
view
jour
nal e
ntrie
s •
Prep
are
finan
cial
repo
rts
• Pe
rform
dai
ly tr
ansa
ctio
n pr
oces
sing
, in
clud
ing:
o
Ac
coun
ts p
ayab
le e
ntry
o
R
ecor
d ca
sh re
ceip
ts
o
Payr
oll
• Pr
epar
e ba
nk d
epos
its
• In
itiat
e ba
nk tr
ansf
ers
• W
ork
clos
ely
with
the
CEO
and
the
Prog
ram
D
irect
ors
to b
udge
t for
spe
cific
pro
gram
s an
d th
e ov
eral
l org
aniz
atio
n •
Mee
t mon
thly
with
Pro
gram
Dire
ctor
s to
re
view
cur
rent
fina
ncia
l res
ults
and
dis
cuss
an
ticip
ated
cha
nges
•
Wor
k w
ith th
e au
dito
rs o
n th
e an
nual
fina
ncia
l st
atem
ent/s
ingl
e au
dit
• W
ork
with
oth
er fi
scal
aud
itors
and
mon
itors
to
prov
ide
info
rmat
ion
as n
eede
d •
Prep
are
exte
rnal
fina
ncia
l rep
orts
• En
sure
effe
ctiv
e in
tern
al c
ontro
ls a
re in
pla
ce
• R
econ
cile
acc
ount
s pa
yabl
e an
d ac
coun
ts
rece
ivab
le w
ith s
ubsi
diar
y le
dger
s •
Rec
onci
le b
ank
acco
unts
•
Mai
ntai
n ve
ndor
dat
abas
e •
Gen
erat
e fin
anci
al re
ports
from
sys
tem
for
CEO
and
Boa
rd
• Ba
ck u
p ac
coun
ting
staf
f dut
ies
as a
ppro
pria
te
• Pr
oces
s/pr
epar
e ac
coun
ts p
ayab
le in
form
atio
n fo
r pay
men
t