My Presentation to the Board Following an Operational Review

I recently completed a review of the finance department operations of a nonprofit organization. The Executive Director wanted an evaluation of the operations of the finance department and to identify key areas for improvement. At the completion of the review, the Executive Director asked me to present my Findings and Recommendations Report to the Board of Directors.

​Whereas the Board of Directors of a nonprofit organization is not responsible for the day-to-day operations of the finance department, they are responsible for overseeing the overall financial health of the organization.

My Presentation to the Board Included –

The process I used in my operational review that resulted in my findings and recommendations report –

1. Interviewing each staff member of the finance department to review how they perform their daily job functions.
2. Documenting the procedures the finance team follows in a Finance Department Operating Procedures Manual. The Manual includes copies of documents used in their procedures and screen shots of the accounting software used.
3. Reporting my findings in a Findings and Recommendations Report that was provided to senior management and the Board of Directors.

Key findings and recommendations in my report that include –

1. Gaps in internal controls
2. Workflow inefficiencies within roles and between roles
3. Manual processes that need to be replaced with automated systems
4. Additional security needed for automated systems
5.  Changes in staff roles and responsibilities

A proposed timeline for implementing my recommendations.

​Results and Next Steps

​I received very positive feedback from the Board. The report gave them confidence that the organization was on the right path to strengthening the operation of the finance department. The Executive Director created an action plan for implementation of the recommendations and proposed timeline in my report.

The Executive Director will work together with designated staff members to implement the recommendations, with my guidance as needed. An update will be presented by the Executive Director to the Board at scheduled meetings.

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Roberta Katz Consulting is working with many nonprofits in improving the operations of their finance function. Schedule a complimentary consultation to discuss how I can provide your organization with an impartial evaluation of its finance department.