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Financial Management Service Foundation

Why Financial Management?


Financial resources are integral to any development work. It has been the endeavor of FMSF to promote robust financial management practices in the Development Sector. We believe that better financial management contributes to better transparency and in effect it enhances accountability.

Good financial management practices will help an organization to:

make effective and efficient use of resources
achieve objectives and fulfil commitments to stakeholders
become more accountable to donors and other stakeholders
gain the respect and confidence of funding agencies, partners and beneficiaries
gain advantage in competition for increasingly scarce resources
prepare for long-term financial sustainability.

Our Approach

Our competency in the area of Financial Management has been achieved through extensive study and research. We are involved in:

Diploma in Financial Management and Accountability - a one year online diploma programme
Project Accompaniment
System Review and development
Trainings & Workshops
Self-Assessment Tool - www.rateyourngo.org
Internal Control Tool Box Series
Publications

Diploma in Financial Management and Accountability (DFMA)

The Diploma in Financial Management and Accountability is a one year long-distance online education program in collaboration with the Tata Institute of Social Sciences (TISS). It caters to the unmet demand of sustained financial management. The global online program is specifically designed for personnel already working in voluntary sector seeking to equip themselves with financial management skills and for persons who are seeking to join the voluntary sector in near future.

To know more about the programme, please visit our website www.fmsflearningsystems.org

                                                                                                                                                                                                                                                                                     

Project Accompaniment

Effective management of financial resources is integral to any development work. Development effectives can be achieved by facilitating -

process of smooth inflow of funds;
ensuring consistent implementation of the planned activities; and
complying with the reporting requirements.

We at FMSF address this area through financial project accompaniment, which begins at the pre-approval stage of the project and continues till the project is successfully closed. In this process, FMSF closely cooperates with both the funding organization on one hand and the implementing partner on the other.

At present, we are providing project accompaniment to approx. 150 donor funded development projects.

Please contact us for more details.

                                                                                                                                                                                                                                                                                     

Systems Review and Development

FMSF has developed a highly specialized tool for conducting financial evaluations, assessments, reviews and investigations on behalf of various national and international agencies.

Certain activities under System Review and Development are:
Finance Review
Quick Finance scan
Pre funding Assessment
Midterm & End Term Assessment
Review of utilization of funds
Designing Policy, manuals and processes
Hands on Accompaniment
System Development
Setting up Budgetary Process
Conflict Resolution & Negotiation
Financial Investigations

Please contact us for more details.

                                                                                                                                                                                                                                                                                     

Trainings / Workshops on Financial Management

FMSF conducts training programs and workshops focusing on Effective financial management and internal control systems. Apart from organizing workshops and consultations, members of the FMSF Resource team also facilitate workshops organized by other agencies.

To know about our upcoming workshops, please see our workshop calendar.
                                                                                                                                                                                                                                                                                     

Self-Assessment Rating Tool - www.rateyourngo.org

This modular self-assessment rating has been developed as social accountability standards after years of research and feedbacks received from various organizations and experts. This self-assessment tool is a humble effort of FMSF in its stance to capture the urgent need of the development sector. As an organization which has been promoting accountability for more than two decades, this is a path breaking diagnostic tool.

Voluntary organizations who wish to participate in this rating exercise are provided with a secure confidential report on the performance of their organization as per legal/accountability conformity laid down by the law of the land.

If you wish to assess and rate your organization, please log on to www.rateyourngo.org

                                                                                                                                                                                                                                                                                     

Internal Control Tool Box Series

The Internal control Tool Box series is an effort for providing a framework that deals with robust internal control procedures which should be followed in the day to day functioning.

We would soon launch the series through mass mail as Internal Control Tool box Series. Each issue will come with a self-assessment tool for NPOs to assess and address the critical areas.

To subscribe please mail us with your contact details fmsf@fmsfindia.org

                                                                                                                                                                                                                                                                                    

Publications

We recommend our latest publication Finance & Legal Handbook for NPOs - 4th Edition, a well-researched handbook of more than 600 pages that explains the various key finance, legal and governance aspects of NPOs in a laymans language.

Click here to know more about the book