Winners and finalists of the 2022 Indigenous Governance Awards talk about the importance of developing the next generation of leaders and how succession planning takes place in their organisation...
Good practice for managing money
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Home
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01 Understanding governance
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02 Culture and governance
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03 Getting Started
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04 Leadership
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05 Governing the organisation
- 5.0 Governing the organisation
- 5.1 Roles, responsibilities and rights of a governing body
- 5.2 Accountability: what is it, to whom and how?
- 5.3 Decision making by the governing body
- 5.4 Governing finances and resources
- 5.5 Communicating
- 5.6 Future planning
- 5.7 Building capacity and confidence for governing bodies
- 5.8 Case Studies
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06 Rules and policies
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07 Management and staff
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08 Disputes and complaints
- 8.0 Disputes and complaints
- 8.1 Aboriginal and Torres Strait Islander and non-Indigenous approaches
- 8.2 Core principles and skills for dispute and complaint resolution
- 8.3 Disputes and complaints about governance
- 8.4 Your members: Dealing with disputes and complaints
- 8.5 Organisations: dealing with internal disputes and complaints
- 8.6 Practical guidelines and approaches
- 8.7 Case Studies
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09 Governance for nation rebuilding
- Governance Stories
- Glossary
- Useful links
- Acknowledgements
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Good practice for managing money
05 Governing the organisation
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- Plan for the future so that the organisation has a clear idea of the funds needed.
- Approve budgets and regularly check income and expenditure.
- Look after members and all organisation resources.
- Check financial policies and procedures so they are up to date and transparent.
- Ensure that only authorised members of the organisation spend funds and sign contracts.
- Monitor finances to ensure the organisation has enough money to pay its bills, including staff wages.
- Get an independent auditor to audit the organisation’s accounts annually.
- Make sure the organisation’s financial information is accurate and reliable.
- Use resources efficiently.
- Get outside help on financial and business planning if needed.
- Make financial information easy to understand for the members of your governing body.
- Train new staff members and all directors in the organisation’s finances.