Financial Management for US Government Funding

Training

Workshop

Financial Management for US Government Funding

November 08, 2018 - 8:30am to November 09, 2018 - 5:00pm

Yangon , Myanmar

Instructor(s):

Shannon M. Meehan , Denise Wales

Language: English

Early - Sep 27 Regular - Nov 07
NON-MEMBERS $815 $910
HUMENTUM MEMBERS $710 $790

Overview

This two-day workshop helps individuals and organizations develop, implement, and maintain effective financial management systems in order to be eligible for US Government funding, reduce audit risk, and build effective collaboration across the organization. If your NGO is a prime and/or subrecipient of grants, cooperative agreements, and/or contracts, this highly participatory program offers you and your team the most comprehensive knowledge of the fundamentals of financial management of US Government funding, including budget management, maximizing cost recovery, and how to deal with donor audits and reviews.

Note: This training fulfills one of three required courses for InsideNGO's Certificate in USAID Assistance Management. 

Prerequisite(s)

USAID Rules & Regulations: Grants & Cooperative Agreements or USAID Contract Management for NGOs: An Introduction

Who Should Attend

  • Finance, compliance, and program staff who manage budgets and reconcile activity costs with program budgets. We highly recommend that both finance and program staff from within an organization attend together

What You Will Learn

This workshop is an exploration of the skills you need for financial management of US Government funds.

You will learn how to: 

  • Identify accounting system basics required to be eligible for US Government funding
  • Compile and assess accurate financial statements
  • Prepare and manage the audit process according to funding guidelines
  • Develop and manage budgets in support of programmatic success
  • Apply methods for recovering indirect costs

DAY 1

Financial Management Fundamentals:

  • The Importance of Good Financial Management

  • Elements of a Strong Financial Management System

Cost Proposals (Budgets) to Support Program Descriptions:

  • Budget Notes Development

  • Budget Review – Comparing Budget and Program Description

  • Relationship between Budget and Chart of Accounts

  • Cost Share

Daily Transactions and Internal Controls:

  • Petty Cash
  • Daily Entries
  • Job Cost Accounting
  • Timekeeping Systems:
  • Personnel Activity Reports
  • Payroll Journal
  • Managing Time and Facilitating Collaboration

Managing Risk:

  • Preventive Controls
  • System of Authorization
  • Segregation of Duties
  • Document / File Systems:
  • Filling System Options
  • Monthly Closings

 

DAY 2

Budget Management:

  • Monthly “Budget vs. Actual” Reporting
  • Quarterly “Budget vs. Actual” Reporting
  • Budget Management Practices
  • Pipeline Reporting

Indirect Costs/Rates and Shared Cost Allocation:

  • Overview
  • Provisional and Final Indirect Rates
  • Indirect Rate Calculation Methodologies
  • Accounting System Requirements
  • Shared Cost Allocation Methodologies

Financial Statements:

  • Purpose and Uses of Audited Financial Statements

Donor Audits:

  • Preparing for an Audit
  • Areas of Audit Risk
  • Supporting & Managing the Audit
  • Corrective Action Plans
  • Closing-Out an Agreement
  • Next Steps – Priority Setting

The Rose Garden Hotel 

171 Upper Pansodan Road, Yangon, Myanmar
T +95 1 371 992 / +95 9 26410 6805 M +95 9 969906208   
E banquet.rosegarden2016@gmail.com     
W www.theroseyangon.com         

Participants are responsible for making their own hotel/lodging arrangements. 

We have been liaising with Ms Su Myat Khin at the hotel, who is very helpful. If you would like information about availability, please do contact the hotel directly using this email address: banquet.rosegarden2016@gmail.com mentioning that you are attending Humentum training. You can benefit from the following preferential rates:

Superior Room: USD 95 net per room per night for Single occupancy
Superior Room: USD 110 net per room per night for Double occupancy
 

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