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Copyright © 2014 by The University of Kansas
Managing Your Money
Copyright © 2014 by The University of Kansas
Why does your organization need a money management
plan?• To fulfill its purpose• To control your finances and cash flow• To maintain good relationships with your
suppliers of goods and services• To establish your credibility in the community• To save you time and a great deal of worry• To devote time to the actual purposes of your
organization
Copyright © 2014 by The University of Kansas
What does the everyday management of your
money include?Systems:• Accounting• Banking• Money-handling• Petty cash• Payroll• Payables and receivables • Grants management• Handling cash flow issues
Copyright © 2014 by The University of Kansas
Decisions:• Computerizing your accounting• Types of bank accounts • What constitutes full-time employment • Which bills and obligations to settle first
What does the everyday management of your
money include?
Copyright © 2014 by The University of Kansas
What issues are involved in being tax-
exempt?• Apply for state tax-exempt status• Make sure that the correct forms are used when
purchases are made• Remove taxes that you've been paying on your
phone, utilities, and any other regular payments• Fill out tax forms• Arrange and undergo a yearly audit
Copyright © 2014 by The University of Kansas
How do you handle cash flow?
• Try to anticipate when cash flow problems may occur
• Set your priorities beforehand• Develop a cash flow contingency plan based on
your priorities and the situation of your organization
Copyright © 2014 by The University of Kansas
What are some day-to-day money management
issues?• Shopping for goods and services• Negotiating with funders• Maintaining systems
Copyright © 2014 by The University of Kansas
What are some investment issues?• A Certificate of Deposit• A Money Market Account
