Public Administration’s Post

Building a grants office from scratch? 🛠️ Our latest newsletter covers 5 FAQs about launching and running a successful #grants office. Learn how to align with funders, track multiple grants, and more! Check it out: https://lnkd.in/exEXF7RQ #grantmanagement #grantfunding #federalgrants #grantready

Nonprofits, ensure fairness and accuracy in your financial reporting with effective cost allocation methods. Learn how to allocate costs accurately across programs and administrative functions. #NonprofitFinance #CostAllocation #FinancialManagement https://lnkd.in/ehGa7fMK

📊💡 Mastering Cost Allocation: A Practical Guide for Non-Profits 🚀🔍 Hello LinkedIn community! Let's dive into the practical realm of cost allocation within non-profits, emphasizing the necessity of using methods that align with the nature of expenses. Accurate cost allocation ensures transparency and accountability, enabling organizations to showcase how resources are strategically deployed across different functions. 💙📈 1. Understand the Nature of Expenses: Programmatic vs. Administrative: Clearly categorize expenses as either programmatic or administrative based on their nature. Programmatic costs directly contribute to mission-related activities, while administrative costs support overall operations. 2. Establish Allocation Methods: Direct Assignment: Some costs can be directly assigned to a specific function. For example, salaries of program staff directly involved in delivering services can be allocated entirely to program costs. Time-Based Allocation: Use time as a basis for allocating shared expenses. For staff members whose roles involve both programmatic and administrative functions, allocate their time proportionately to each category. Square Footage or Usage: Allocate costs like rent, utilities, or office space based on square footage or proportional usage. If a space is used 70% for programmatic activities and 30% for administrative tasks, allocate related costs accordingly. Number of Users or Beneficiaries: For expenses related to software licenses, equipment, or services benefiting both program and administrative functions, allocate costs based on the number of users or beneficiaries in each category. 3. Common Costs and Allocation Examples:  Salaries and Wages:      - Program Costs: Allocate the salaries of staff directly engaged in program delivery to program costs.      - Administrative Costs: Allocate the salaries of general administrative staff to administrative costs.  Rent and Utilities:      - Program Costs: Allocate based on the square footage used for programmatic activities.      - Administrative Costs: Allocate based on the square footage used for administrative functions. Office Supplies:      - Program Costs: Allocate based on the number of users or beneficiaries benefiting from programmatic activities.      - Administrative Costs: Allocate based on the number of administrative staff. Technology Expenses:      - Program Costs: Allocate based on the number of users directly benefiting from programmatic technology.      - Administrative Costs: Allocate based on the number of administrative users. 4. Documentation and Consistency:   - Maintain Clear Records: Document the rationale and methods used for cost allocation. Keep detailed records of how expenses are distributed across different functions.   - Consistency is Key: Maintain consistency in the application of allocation methods across financial reporting periods. This consistency enhances the reliability and comparability of financial statements.

Recent events have intensified the challenge of managing fluctuating revenue streams in the nonprofit sector. Discover the importance of strategic revenue management in maintaining service commitments during times of financial uncertainty, such as the ongoing "generosity crisis." #NonprofitSector #FinancialStability #StrategicManagement

From Travel to Assets; Efficient Expense ..! Managing expenses is crucial for nonprofit organizations to ensure financial stability and transparency. Here are some key tips on managing various expenses: 1. Travel Expenses: - Establish clear travel policies outlining acceptable expenses. - Encourage cost-effective travel options. - Use dedicated expense management tools for tracking and reporting. 2. Office Expenses: - Monitor and control office supply costs. - Consider shared workspaces to reduce rental expenses. - Implement energy-efficient practices to cut utility bills. 3. Asset Management: - Maintain an updated inventory of all assets. - Implement a depreciation schedule for long-term assets. - Regularly assess the need for asset upgrades or replacements. 4. Technology Expenses: - Leverage cloud services to reduce IT infrastructure costs. - Negotiate discounts with technology vendors for nonprofit organizations. - Train staff to use technology efficiently to avoid unnecessary expenses. 5. Books on Nonprofit Finance (expenses): - "Financial Management for Nonprofit Organizations" by John Zietlow - "Nonprofit Bookkeeping and Accounting For Dummies" by Sharon Farris - "Managing the Non-Profit Organization" by Peter F. Drucker Explore these books to gain valuable insights into managing finances, handling accounting tasks, and enhancing the overall efficiency of your nonprofit. Adapt these strategies to fit your organization's unique needs, and don't hesitate to seek advice from financial experts when necessary. #nonprofitmanagement

Elevate your nonprofit's efficiency with the top tech tools! Our latest guide unveils essential software for everything from donor management to accounting. Discover how to supercharge your mission with ease!

Outsourcing accounts receivable can help your nonprofit focus on its mission while experts manage your cash flow. Learn the key benefits and how to choose the right partner for your financial needs. https://hubs.ly/Q02PYj8f0

Wondering how to secure grants effectively and amplify your organization's impact? Check out our latest blog post on Grant Readiness! Learn about essential steps to ensure your organization is prepared for success in the competitive grant landscape. From assessing your organization's readiness to taking proactive steps to strengthen your foundation, our blog covers it all. Learn how to showcase your past achievements, clarify funding needs, and prepare compelling documentation to stand out to potential funders. Don't miss out on valuable insights and strategies to elevate your grant-seeking efforts! Read the full blog post here: https://lnkd.in/eU-EDr96

Drowning in grant applications and deadlines? 🛶 Let's explore solutions. For all nonprofits, whether big or small, managing your grants efficiently and consistently is crucial. Here’s an in-depth look at how grant management software can help you stay organized and eliminate the stress. We'll dive in and take a look at some of the top Grant Management Software companies on the market and the key features they offer, such as: ➡ Application Tracking: Monitoring the status of multiple grant applications. ➡ Deadline Alerts: Automated reminders for submission and reporting deadlines. ➡ Document Storage: Securely storing and organizing all necessary documents. ➡ Financial Tracking: Track budgets, expenditures, and financial reports. ➡ Reporting Tools: Generating reports for stakeholders and funders. Click to read more: https://lnkd.in/g5C9y3-h #NonprofitLeadership #GrantWriting #GrantManagement

Exciting Updates to Federal Grant Funding Guidelines: What You Need to Know 🚀 @OMBPress has implemented changes that promise to transform how grants are managed, evaluated, and accessed. Here is whats new: 1. Streamlined Application Processes: The updated Uniform Grants Guidance emphasizes the use of plain language in NOFOs and the simplification of grant announcements. This makes the application process more accessible, particularly for organizations new to federal grants. 2. Enhanced Focus on Evaluation and Data: There’s a greater allowance for the use of grant funds towards evaluation and data-related activities. This means organizations can now invest in understanding the impact of their programs more comprehensively. 3. Community Engagement: The revisions encourage federal agencies and recipients to conduct community engagement activities, recognizing the value of incorporating the knowledge, needs, and lived experiences of affected individuals and communities into program design. 4. Labor and Employment Practices: The new guidelines support engaging organized labor and using responsible contractors. It includes provisions for labor standards that increase the potential impact of federal funds by promoting fair labor practices. 5. Burden Reduction: A significant aspect of the revisions is the reduction of administrative burdens for recipients. This includes increasing thresholds for financial management and clarifying cost provisions, making it easier for organizations to manage their funds efficiently. You can read the whole announcment here: https://lnkd.in/gd9q3aJr.