Effective Financial Management in Public and Nonprofit Agencies: A Practical and Integrative Approach

Financial management is emerging as a critical force in everyday management. The continuing upward spiral of inflation, rising cost of governmental programs, and citizens' demands for better cost-effective delivery of goods and services are forcing public managers and other not-for-profit organizations to make creative use of their scarce financial resources. In this new and updated edition, chapters place new and special emphasis on ceiling and target base budget estimating, ratio analysis, TQM, and internal control cost systems. Accountability is given a fresh approach, as it deals with the complicated issues of today's nonprofit organizations. This volume is imperative reading for managers, administrators, scholars, teachers, and students of financial management of public and nonprofit organizations, including the health care industry, public affairs, political science, as well as schools of public health and social work.

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 has been developed in response to the 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 level.