Effective Financial Management in Public and Nonprofit Agencies

This analytical volume looks at emerging fiscal trends and introduces the tools for effective financial management to American business professionals in the public, private, and nonprofit sectors.

This hard-hitting book is the most comprehensive reference to financial theory and practice for operating a business―profit or nonprofit―in the United States today. Content focuses on fiscally responsible behaviors and strategies, such as the introduction of a financial auditing system to troubleshoot potential problems before they occur, the creation of internal control and risk management systems, and step-by-step procedures for ensuring maximum transparency and accountability in every part of the organization.

Author and financial expert Jerome B. McKinney has expanded on the previous edition of this popular financial text, offering the latest best practices in e-government applications, cash flow analysis, revenue forecasting, and fiscal health evaluations. This fourth edition also looks at sustainability, the role of monetary policies and fiscal policy, globalization and its competitive impact, and the massive growth of outsourcing. On a final note, the work explains how recent legislation has influenced the development, use, and implementation of performance measures holding government agencies more accountable for their actions.

• Provides step-by-step procedures for developing critical measurement indicators

• Shares the attributes of a good budgeting system

• Covers the new rules of financial reporting in both government and nonprofits

• Provides a comprehensive and holistic approach to auditing that shows how to minimize manipulation and increase reliability to users