Financial Decision Making for Human Services Organizations
In 7 pages, the Assignment will require you to build on the following scenario:
Housing for All Organization: Scenario The neighborhood that you live in suffers from an acute lack of affordable housing due to rising rents and the limited supply of housing units. To address this issue, you decide a start a human services organization called Housing for All, with a primary mission to promote affordable housing for the people in your neighborhood.
Since your organization is still in its early stages, you will be in charge of overseeing the financial and accounting transactions and recording. As you opened the organizations bank account, the bank teller tells you that you will probably use the cash-basis accounting system initially.)
Housing for All set a fundraising goal of $100,000 by the end ofthe year.
-Describe 2 fundraising/outreach strategies that could help the organization reach that goal.
-Discuss the likely impact on the financial health and human capital ratios be in the long-term if the goals a re reached.
-If the organization reaches the fundraising goal set in part 1, what will be the impact on the next year operating and capital budget?
-Briefly explain which specific items from those budgets may change as a result of the organization improving its cash position.
-Suppose that the Housing for All organization wants to diversify its sources of income. Propose a couple of strategies that can increase thesource of income.
-Discuss the ability of additional sources of income to impact the efficiency of the organization operations.
-Provide two major sources of income and expenditures would you monitor as a manager of the organization in order to improve the financial decision-making in the organization.
-Explain how audits can be used to address specific weaknesses in the financial position of the organization.
-Describe how management can use the information/conclusions of an audit to improve the financial decisions in the organization.
-In your conclusion, share how you will apply what your learned
to your current practice as a child welfare professional at NYC Administration for Children Services
The essay must include Cover page and reference page. Must be double-spaced with 1-inch margins and typed in12-point Times New Roman. Paper should be proofread for spelling and grammar mistakes. Essays should be in APA style, you must cite all texts used, including page numbers to avoid plagiarism
Use no less than 10 references in the paper. The paper must have a thesis statement and conclusion
USE IN-TEXT CITATIONS TO SUPPORT YOUR RESPONSES. I’VE INCLUDED A LIST OF THE REFERENCES/READINGS THAT WERE RECOMMENDED FOR THE COMPLETION OF THIS ESSAY. UTILIZE THESE REFERENCES.
REFERENCES
- K and Wilson A. (2018). 10 Things Keeping Nonprofit Auditors Up At Night. Retrieved from: https://www.thenonprofittimes.com/npt_articles/10-things-keeping-nonprofit-auditors-up-at-night/
- Health and Human Services Commission Internal Audit Division. Fiscal Year 2017 Audit Plan. Texas state government (2017). Retrieved from: https://hhs.texas.gov/sites/default/files/FY17-Internal-Audit-Plan.pdf
- Pinga, R. (2015). Budgeting for Analytics. Internal Auditor, 72(5), 4549. Retrieved from EBSCO multi-search
- Udeh, I. A. (2015). Audit Budget Potentials. Review of Business, 36(1), 3542. Retrieved from EBSCO multi-search
- Antonelli A. (2017). Nonprofit Budgeting Basics. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/nonprofit-budgeting-basics
- Business Finance Coach (2019), Business Accounting How to Create a Budget *SIMPLE* . Retrieved from: https://www.youtube.com/watch?v=IKfVaUmsQhw (12:36)
- Human Services 2020-21 Governor’s Biennial Budget, Minnesota. Retrieved from: https://mn.gov/mmb-stat/documents/budget/2020-21-biennial-budget-books/governors-recommendations-january/human-services.pdf (pages 1-21 only).
- The 2018-19 Budget. Analysis of the Health and Human Services Budget. The California Legislature’s Nonpartisan Fiscal and Policy Advisor. Retrieved from: https://lao.ca.gov/Publications/Report/3757#top
- Waxman, K. (2015). Finance and Budgeting Made Simple?: Essential Skills for Nurses. Brentwood, TN: HCPro, a division of BLR. Retrieved from EBSCO multi-search available in the TUW Library online, pages 39-64 only.
- Albritton, B. R., Hartsfield, F., Holmes, A. F., & Kappmeyer, C. (2018). Developing Bridges Center Grant Proposal: A Budgeting Case for a Nonprofit Organization. Journal of Governmental & Non Profit Accounting, 7(1), 7886. Retrieved from EBSCO multi-search available in the TUW Library online.
- Antonelli A. (2017). Budgeting Best Practices. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/budgeting-best-practices
- HHS FY 2017 Budget in Brief (2017). U.S. Department of Health & Human Services. Retrieved from: https://www.hhs.gov/about/budget/fy2017/budget-in-brief/index.html
- Nonprofit Finance Fund (2018). Nonprofit Budgeting: use Excels group feature to simplify your budget . Retrieved from: https://www.youtube.com/watch?v=PyvLZ-HNIU4 (5:24)
- Polanco H, Summers J (2015). A Five-Step Guide to Budget Development. Wallace Foundation. Retrieved from:https://www.wallacefoundation.org/knowledge-center/Resources-for-Financial-Management/Documents/A-Five-Step-Guide-to-Budget-Development.pdf
- Olson C. (2016). Building an Effective Budgeting Process. Retrieved from: https://clarknuber.com/articles/building-an-effective-budgeting-process/
- Authors (2018). The importance of monitoring financial performance. Dolfiblue Chartered Accountants Business Advisers. Retrieved from: https://dolfinblue.com/the-importance-of-monitoring-financial-performance/
- Griffin MP. How to Read and Interpret Financial Statements: A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 93-125 only. Retrieved from EBSCO multi-search available in the TUW Online Library.
- Hecht G. (2016), Why is Financial Performance Measurement Important . Retrieved from: https://www.youtube.com/watch?v=SOPrxL6e87w (4:19)
- Sherman, E. H. (2015). A Managers Guide to Financial Analysis: Powerful Tools for Analyzing the Numbers and Making the Best Decisions for Your Business (Vol. Sixth edition). [Place of publication not identified]: AMA Self-Study. Retrieved from EBSCO multi-search available in the TUW Library online (pages 67-68 only).
- Authors (2019), Financial Management. National Council of Nonprofits. Retrieved from: https://www.councilofnonprofits.org/tools-resources/financial-management
- Authors (2018). The Importance of Community-Based Organizations in Human Services. Independent Sector. Retrieved from: https://independentsector.org/news-post/the-importance-of-community-based-organizations-in-human-services/
- Parashkevova, B., Penev, N., Nencheva, I., Simeonov, S., Zdraveska, A., & Marinova, J. (2017). Financial Management of General Practitioners Practices in Bulgaria: Features and Challenges. Trakia Journal of Sciences, 15(Supp1), 247251. Retrieved from multi-search database EBSCO available in the TUW Online Library.
- The Kresge Foundation (2016). A CALL FOR ACTION: Strengthening the Human Services Sector. Retrieved from: https://kresge.org/sites/default/files/Strengthening-the-Human-Services-Sector.pdf
- ALMAZAN, R. (2015). Four reasons math is anything but elementary for business owners. Inside Tucson Business, 24(24), 4. Retrieved from EBSCO multi-search database
- Authors (2017). How to Choose the Right Basis of Accounting for Nonprofits. Rinehimerbaker Accounting solutions. Retrieved from: https://rinehimerbaker.com/blog/choose-right-basis-accounting-nonprofits/
- Antonelli A. (2016). Best Practices for Nonprofit Financial Health, Part Three: Understanding Full Costs. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/best-practices-nonprofit-financial-health-part-three-understanding-full-costs
- Authors (2018). Nonprofit finance terms and concepts. Nonprofit Finance Fund. Retrieved from: https://nff.org/glossary
- Bailey, W. J., & Samuels, J. A. (2018). Analyzing Two InvestmentsAn Instructional Case to Introduce Basic Financial Accounting Concepts. Issues in Accounting Education, 33(4), 4756. Retrieved from multi-search database EBSCO available in the TUW Online Library.
- Concept of Double Entry (2017). Accounting-Simplified.com. Retrieved from: https://accounting-simplified.com/double-entry-accounting.html
- Coley H. (2018). Cash vs. Accrual. Greater Washington Society of CPAs. Retrieved from: https://www.nonprofitaccountingbasics.org/accounting-bookkeeping/cash-vs-accrual
- Griffin MP. Basic Concepts and Principles of Financial Accounting and Financial Statements. How to Read and Interpret Financial Statements: A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 6-35 only. Retrieved from EBSCO multi-search
- Authors (2019). The four basic financial statements. AccountingTools. Retrieved from: https://www.accountingtools.com/articles/the-four-basic-financial-statements.html
- Griffin MP. How to Read and Interpret Financial Statements: A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 41-90 only. Retrieved from EBSCO multi-search available in the TUW Online Library.
- Sherman, E. H. (2015). A Managers Guide to Financial Analysis: Powerful Tools for Analyzing the Numbers and Making the Best Decisions for Your Business (Vol. Sixth edition). [Place of publication not identified]: AMA Self-Study. Retrieved from EBSCO multi-search (Read pages 19-26 only).
- Walther L. (2019). The Four Core Financial Statements. Retrieved from: https://www.principlesofaccounting.com/chapter-1/financial-statements/
- Antonelli A. (2016). Best Practices for Nonprofit Financial Health, Part One: Top 3 Measures of Financial Health. Nonprofit Finance Fund. Retrieved from: https://nff.org/blog/best-practices-nonprofit-financial-health-part-one-top-3-measures-financial-health
- Broweleit, T. (2016). Performance Measurement – Vodcast 2: Measuring Financial Performance, IUBH Fernstudium . Retrieved from: https://www.youtube.com/watch?v=4roeado7Zhc [14:30]
- Griffin MP. How to Read and Interpret Financial Statements: A Guide to Understanding What the Numbers Mean to You. Vol Second edition. [Place of publication not identified]: AMA Self-Study; 2015, pages 95-110 only. Retrieved from EBSCO multi-search available in the TUW Online Library.
- Lampland, B. (2015). Becoming a Profitable Nonprofit While Staying Mission-Focused. Philanthropy News Digest (PND). Retrieved from: https://philanthropynewsdigest.org/columns/the-sustainable-nonprofit/becoming-a-profitable-nonprofit-while-staying-mission-focused
- Paszkiewicz, E. (2019). 3 Financial Ratios and Benchmarks Nonprofits Must Know. Gross, Mendelsohn & Associates. Retrieved from: https://www.gma-cpa.com/blog/nonprofit-financial-benchmarks
- Peavler, R. (2018). What Are the Categories of Financial Ratios? The Balance Small Business. Retrieved from: https://www.thebalancesmb.com/categories-of-financial-ratios-393217
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