Need to Know Finances for Board Members
Monday, November 1st, 4pm – 6pm
Presenter: Ean Price Murphy of Moxie Bookkeeping
After registering, you will receive a confirmation email containing information about joining the meeting.
If you serve on a board but tune out in meetings when the budget or financial topics arise, this workshop is for you. In this training, we will cover what the role of the board is in the financial health of an organization, what makes nonprofit accounting unique, how to structure the financial reports so that they are useful (and how to use the information) as well as best practices for good internal controls. We will define terminology but won’t be using jargon!
YOU WILL LEARN:
- Account types and what they mean
- How do we make a budget?
- What is the difference between Cash and Accrual accounting
- Best practices for separation of duties and checks & balances
- What are the questions you should be asking as a board member
- What reports to ask for from the bookkeeper and how to read them (questions like: “what is our overhead” and “how much do we have left to spend in this program or how much do we need” and “when will we run out of money?”
- How to read an income statement and balance sheet (and what parts to really pay attention to)
- What to do if the reports don’t make sense to anyone on the board