Finance and Strategy Resources

Finance and Strategy Resources

Budgeting Resources
 

CompassPoint offers two workshops and one clinic on budgeting for nonprofit organizations. If you are looking to revamp your organization’s budgeting process and tools, these three sessions will walk you through the entire process from start to finish! These two templates are used in our budgeting offerings:

If you are enrolled in Building Your Organizational Budget in Excel , you will need to download these two documents for the class:

To find out more about our budgeting workshops click here.


Guide and Template
for Fiscal Policies and Procedures

 

CompassPoint has developed a well-organized, time-saving template and accompanying guide to make it a bit easier for you to write or update your organization’s fiscal policies and procedures. We believe that the most important part of developing policies and procedures is that they are discussed, agreed upon, and regularly reviewed by both the decision makers in an organization and by those who will be implementing them on a day-to-day basis. There is no “one size fits all” template that will work for all organizations, but this template and guide offer a recommended structure for policies and procedures as well as some questions to guide you in considering what is best for your organization.
 

CompassPoint fiscal policies and procedures template.

CompassPoint fiscal policies and procedures guide

If you wish to do additional research, here are tools and resources from the Nonprofits Assistance Fund in Minnesota


Internal Controls Checklist

What are internal controls?
Internal controls are a set of policies and procedures to prevent deliberate or misguided use of funds for unauthorized purposes.
 

Why have them?

  • Internal controls help to provide reliable data by ensuring that information is recorded in a consistent way that will allow for useful financial reports. 
  • They also help prevent fraud and loss by safeguarding assets and essential records.
  • Internal controls promote operational efficiency by reducing unnecessary duplication of effort and guarding against misallocation of resources.
  • They encourage adherence to management policies and funding source requirements.

CompassPoint is pleased to share with the nonprofit community a sample internal controls checklist – we invite you to download and adapt any and all of these documents for your own use.

Please note that these materials are provided for informational purposes only and do not constitute legal advice. You should not rely upon this information for any purpose without seeking the advice of an attorney in your state taking into account applicable state and local laws as well as the facts of your specific situation. CompassPoint thus expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of the documents posted on this website.