Pobal Training Initiative
Facilitated by:
 Using the “Financial
Management Guidance” Toolkit
 Understanding Financial
Management
 Planning and Budgeting
 Financial Bookkeeping and
Controls
 Financial Reporting
 Understanding Staff Costs
 How the tendering Process
Works
 Online Resources
 Reference Guide Covers:
-Planning and Budgeting
-Financial Bookkeeping
-Financial Controls
-Financial Reporting
-Understanding Staff Costs
-Tendering & Public Procurement
Procedures
-Links to Further Information
 What is Financial
Management?
Reference pages 1 -3 of Toolkit
 The process of making the best
use of an organisation’s
resources
Requires:
- Use of financial information
- Adequate policies and
procedures (preparation,
recording and presentation)
Planning Jargon Buster
(explanation of key terms)
 Developing a Strategic Plan
Developing an Annual Business
Plan
Developing a Budget
Working out Cashflow
Requirements
Managing Risk
Developing a Reserves Policy
 Tool
… that organisations can use to
help them imagine and manage
the future more effectively.
 Process
… highlights the principal drivers
of change and associated
uncertainties facing an
organisation at present and
explores how they might play out
in the future.
 Result: Scenarios
… a set of stories that offer
alternative views of what the
future might look like.
Example of 2 x 2 Schematic for Society
Strong Labour Market
Anything Possible
Business Remains the Same
People feel
empowered
Social networking
dominant
People feel
disenfranchised
Society Meltdown
Depressed Labour Market
 Identifying and Managing
Risk
(Reference section 1.8 of
Toolkit)
Conflict of Interest
Poor Trustee Skills
Poor
Organisational
Structure
 Service Quality and
Development
 Employment Issues
 Health and Safety
Issues
 Fraud
 Contracts
 Cash Flow
 Diversity of
Income Sources
 Accuracy of
Financial
Information
 Public Perception
and Adverse
Publicity
 Government
Policy
 Employment Law
 Fundraising
 Breaches of
Company Law
 Breaches of
Other Legislation
 Group Work:
John Robinson and his
community group have identified
a niche market collecting and
safely disposing of agricultural
plastics waste from farms around
North Munster and South-East
Leinster. In groups, identify the
risks that you believe John and
his community enterprise will
have to manage if they are to
successfully establish and grow
the business.
Report back your findings!
Financial bookkeeping and
financial controls jargon buster
Bookkeeping good practice –
section 2.1
Apportioning costs
Putting adequate financial
controls in place (Annual Review
of Internal Controls hand out)
Preventing fraud
 In groups, discuss how you and
your board would manage the
following scenario.
In preparing your end of year
accounts and financial
statements, your accountant
has drawn your attention to a
discrepancy of €10,500. This
money appears to have been
taken by a senior manager to
cover their un-vouched travel
expenses during the first
quarter of 2011.
What should you do?
 Annual Financial Statements:
- Provide information about the
organisation
- Assist decision-making in
relation to the organisation
- Assess risk
- Assess solvency
- Review performance
 External Auditors: review
financial statements in an
unbiased way
 Internal Auditors: monitor risk
management, reporting and
control practices
 External grant auditors: review
activities, performance and
that grants are being spent as
per funding rules and within
budget
 Audit of Annual Financial
Statements – section 4.8
Key Issues to Consider:
Salaries
Travel and Subsistence
Staff Records
Employment status
Statutory redundancy
 Competitive Tendering –
section 6.1
 www.etenders.gov.ie
 Procurement Workflow –
section 6.6
 www.pobal.ie
 www.wheel.ie
 www.carmichaelcentre.ie
 www.cro.ie
 www.erb.ie
 www.procurement.ie
 www.ictprocurement.gov.ie
 www.citizensinformation.ie
 www.revenue.ie
 www.ictu.ie