Managing Financial Resources And Decisions Assignment

Managing Financial Resources And Decisions Assignment-78
Several sources provide a hedge against adverse treatment by a single funding partner or source.Special funding sources often help the organization to focus on emerging, high priority concerns or to test new approaches.

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Poor financial management, on the other hand, often accompanies and contributes to failure.

This chapter focuses its attention on principles related to money matters.

A specialist's message getting through to a farmer does not totally depend on how much money is spent on the process.

However, organizations that are effective tend to know how their money is being spent. Leaders are responsible for acquiring and maintaining resources for their organization.

A practical goal might be to have a resource commitment from the principal funding partner (the most dependable source of continuing funding) that will maintain the "core" or basic structure of the organization (e.g., selected staff salaries and other expenses).

Support for whatever is beyond the core might then come from the so-called softer resources or some combination of funding sources as described previously.

But regardless of how reports are produced and records maintained, they should be accurate and produced in a timely fashion so that staff can base their decisions on good information.

A number of acceptable computer software programmes are available to meet this accounting need.

A case can easily be made that sound financial management is the first step toward quality programming. These efforts tend to be more successful when requests deal with issues of high national priority and when an explanation is provided as to how the additional resources will be used.

There is an almost universal reaction of managers when it comes to money, namely, they do not have enough of it. Depending on custom and regulations, extension organizations may receive support from any combination of the above.

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