Effective Financial Management in Public and Nonprofit Agencies

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Greenwood Publishing Group, 2004 - Business & Economics - 593 pages
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Financial management has emerged as a critical force in everyday management. Revenue flow has suffered from three years of economic decline on the rising costs of governmental programs, along with citizens' demands for more cost-effective delivery of goods and services even as they resist tax and fee increases. Public managers and not-for-profit organizations are forced to make creative use of their scarce financial resources. This new and updated edition retains the best of its predecessor. Attention is focused on the Government Performance Act of 1993 and how it has influenced the development, use, and implementation of performance measures to maximize accountability. The Government Accounting Standards Board Rule #34, which has had a revolutionary impact on government financial reporting, is carefully examined. A comprehensive and holistic approach to auditing shows how to minimize manipulation and increase reliability to users. Readers are also introduced to the application of e-government, cash flow analysis, expanded revenue forecasting analysis, and evolving techniques for evaluating fiscal health.

New measurement indicator terms that have recently entered the literature are introduced, showing how they are linked to accountability and TQM. Recent developments in revenue, purchasing and inventory, cash, risk management borrowing, and debt management are also incorporated. Particular emphasis is given to performance measurements, and their linkage to budgeting and management. The PPBS system that developed in response to dissatisfaction with traditional line-item and performance budgeting is given its own in-depth chapter and analysis. An important section of the book addresses fraud, waste, and abuse. Because financial management is the only activity that touches every employee in an organization, this is an indispensable book for managers on the state and local levels. This volume is imperative reading for managers of any kind, as well as administrators, scholars, teachers, and students of financial management of public and not-for-profit organizations, including the health care industry, public affairs, political science, and schools of public health and social work."

 

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Contents

Understanding Financial Management
1
Accounting Its Important Role in Financial Management
30
Internal Control Management
100
Revenue Management
127
Purchasing and Inventory Management
166
Cash Management
193
Risk Management
221
Borrowing and Debt Management
237
The Planning Programming Budgeting System PPBS
387
ZeroBase Budgeting and Total Quality Management
407
Information Needs and Financial Management
428
Auditing
448
Reporting
475
Evaluating Fiscal Health
496
Fraud Waste and Abuse
523
Financial Advising Functions
544

The Budgeting Function
262
Expenditure Forecasting
296
Budgeting as a Management Tool
315
Capital Budgeting
340
LineItem and Performance Budgeting
368
Decision Unit Crime Prevention
562
PresentValue Factors and FutureValue Factors
567
Selected Bibliography
578
Index
585
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About the author (2004)

JEROME B. MCKINNEY is Professor of Public Management and Policy at the University of Pittsburgh.

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