Financial Management for Human Service Administrators,9780321049490

Financial Management for Human Service Administrators

by
Edition: 1st
ISBN13: 9780321049490
ISBN10: 0321049497
Format: Paperback
Pub. Date: 2000-08-22
Publisher(s): Pearson
List Price: $131.40

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Summary

This comprehensive financial management book is designed to help future or current human services or social work administrators manage programs and agencies more effectively.The book includes information on various budgeting systems (line-item, performance, and program) and other financial management tools, including program structures and responsibility centers; financial accounting and the interpretation and analysis of financial statements; the forecasting of revenues, expenses, and caseloads; service costing and the linking of costs to performance (output, quality, and outcome) measures; fee setting; government contracts, and more.For anyone interested in financial management for human services, social work, or nonprofit organizations.

Table of Contents

Preface xv
The Importance of Financial Management
1(9)
What Is Financial Management?
1(1)
Why Financial Management Is Important Today
2(5)
The Maturation of the Human Services
2(1)
Societal Productivity and Economic Growth
2(1)
The Accountability Movement
3(1)
Competition
3(1)
The Contract Environment
4(1)
Managed Care
5(1)
Maintaining Stakeholder Trust and Confidence
5(1)
The Nature of Nonprofit Organizations
6(1)
The Nature of Service Organizations
6(1)
Advances in Computers and Information Technology
7(1)
Adopting a Financial Management Perspective
7(1)
Financial Management Concepts, Principles, and Tools
8(1)
Summary
9(1)
Programs, Program Structures, Program Managers, and Responsibility Centers
10(9)
The Identification of Programs
11(1)
What Is a Program?
11(1)
The Creation of a Program Structure
12(1)
The Assignment of Program Managers
12(1)
The Designation of Responsibility Centers
13(3)
Expense Centers
14(1)
Revenue Centers
14(1)
Profit Centers
15(1)
Investment Centers
15(1)
Multiple-Responsibility Centers
16(1)
Summary
16(1)
Exercise
16(3)
Understanding Financial Statements
19(18)
Generally Accepted Accounting Principles (GAAP)
19(1)
Internal Revenue Service (IRS) Status
20(1)
Financial Statements
21(1)
Types of Financial Statements
22(1)
Phoenix Specialized Transportation Services (STS)
22(1)
The Statement of Activities
22(6)
Assets
24(1)
Liabilities
24(1)
Net Assets
24(1)
Revenues
24(1)
Expenses and Expenditures
25(1)
Accounts Receivable
25(1)
Accounts Payable
25(1)
Cash and Accrual Accounting
26(1)
Permanently Restricted
27(1)
Temporarily Restricted
27(1)
Unrestricted
27(1)
The Statement of Financial Position
28(2)
The Basic Accounting Formula
28(2)
Current and Noncurrent Assets and Liabilities
30(1)
The Statement of Cash Flows
30(2)
The Statement of Functional Expenses
32(1)
The Internal Revenue Service (IRS) Form 990
33(3)
Summary
36(1)
The Basics of Accounting
37(18)
Some Basic Accounting Terms
37(2)
The Portland After School Program
39(13)
Computing the Trial Balance
45(1)
Closing the Revenue and Expense Accounts
45(2)
Preparing the Financial Statements
47(5)
Summary
52(1)
Exercises
52(3)
Financial Analysis
55(10)
Financial Analysis Ratios
55(4)
The Current Ratio
56(1)
The Long-Term Solvency Ratio
56(1)
The Contribution Ratio
57(1)
The Programs/Expense Ratio
57(1)
The General and Management/Expense Ratio
58(1)
The Fund-Raising/Expense Ratio
58(1)
The Revenue/Expense Ratio
59(1)
Monitoring Ratios over Time
59(2)
Summary
61(1)
Exercises
61(4)
Performance Measures
65(11)
Performance Measurement Defined
66(1)
The Major Performance Measurement Initiatives
67(3)
The Government Performance and Results Act (GPRA)
67(2)
Service Efforts and Accomplishments (SEA) Reporting
69(1)
U.S. General Accounting Office (GAO)
70(1)
Output, Quality, and Outcome Performance Measures
70(2)
Output Performance Measures
70(1)
Quality Performance Measures
71(1)
Outcome Performance Measures
72(1)
Characteristics of Good Performance Measures
72(2)
The Use of Performance Measures in Financial Management
74(1)
The Houston Home Care Agency
74(1)
Summary
75(1)
Budgeting and Budget Systems
76(16)
Major Budgeting Systems and The Systems Model
76(2)
Line-Item Budgeting Systems
78(7)
Developing a Line-Item Budget
80(1)
Balancing an Unbalanced Line-Item Budget
80(3)
Major Advantages and Disadvantages of Line-Item Budgeting
83(1)
Monitoring a Line-Item Budgeting System
83(2)
Performance Budgeting Systems
85(2)
Advantages and Disadvantages of Performance Budgeting Systems
86(1)
Program Budgeting Systems
87(2)
Advantages and Disadvantages of Program Budgeting Systems
88(1)
Monitoring Performance and Program Budgeting Systems
89(1)
A Comprehensive Budgeting System
89(2)
Summary
91(1)
Cost Analysis
92(26)
Prerequisites for Using Cost Analysis
92(1)
The Cost Analysis Process
92(1)
Identifying Direct and Indirect Costs
93(3)
Assigning Direct Costs to Programs and Indirect Costs to the Indirect Cost Pool
96(2)
Allocating Indirect Costs to Programs
98(1)
Cost Allocation Using Total Direct Costs
98(1)
Determining the Total Cost of Each Program
99(2)
Computing Cost Per Output (Unit of Service) and Cost Per Outcome
101(2)
Allocating Indirect Costs Using Salaries and Wages
103(4)
Allocating Indirect Costs Using Direct Labor Hours
107(2)
Which Cost Allocation Method Is Best?
109(3)
Prospective Cost Analysis Versus Retrospective Cost Analysis
112(1)
Program Line-Item Budgets
113(1)
Summary
113(2)
Exercises
115(3)
Forecasting
118(14)
Some Basic Forecasting Rules of Thumb
119(1)
Simple Moving Averages
120(2)
Weighted Moving Averages
122(1)
Exponential Smoothing
123(1)
Time Series Regression
124(5)
When to Use Which Forecasting Technique
129(1)
Summary
130(1)
Exercises
130(2)
Differential Cost Analysis
132(17)
Some Concepts and Definitions
132(1)
Fixed Costs and Variable Costs
132(3)
Step Costs
134(1)
Maximum Efficiency and Surplus Capacity
135(1)
Break-Even Analysis
135(1)
New River Community Council Case Example
136(3)
Profitability Analysis and Marginal Pricing
138(1)
Westchester Home-Delivered Meals (WHDM) Program
139(3)
Decrease/Discontinue Decisions
142(3)
Summary
145(1)
Exercises
145(4)
Setting Fees
149(12)
Some Major Fee Setting Issues
149(5)
Direct and Indirect Costs
150(1)
Depreciation and Use Allowance
151(1)
Unallowable Costs
151(1)
Profit Margins
152(1)
Fixed and Variable Costs
152(1)
Break-Even Points
153(1)
Market Prices
154(1)
Variable Fee and Sliding Fee Schedules
154(1)
Government Benefits Seminar Case Example
154(4)
Summary
158(1)
Exercises
158(3)
Government Contracts and Grants
161(13)
Contracts, Grants, and Cooperative Agreements
161(2)
Sources of Information about Government Contracts, Grants, and Cooperative Agreements
163(3)
Types of Procurements
166(4)
The Request for Proposals (RFP)
167(1)
The Invitation for Bids (IFB)
168(2)
Types of Contracts
170(3)
Cost Reimbursement Contracts
170(1)
Performance Contracts
170(2)
Capitated (Managed Care) Contracts
172(1)
Summary
173(1)
Fund Development
174(13)
Foundation Grants
174(1)
Types of Foundations
175(3)
Family Foundations
175(1)
Corporate (Business) Foundations
176(1)
General Interest Foundations
176(1)
Special Interest Foundations
176(1)
Community Foundations
176(2)
Finding Out about Foundations
178(1)
United Way of America Membership
178(2)
Other Traditional Fund Development Approaches
180(2)
Annual Campaigns
180(1)
Special Events
180(2)
Client Donations
182(1)
Entrepreneurial Fund Development Approaches
182(4)
Affinity Marketing
182(1)
Bequest Programs
183(1)
Life Income Programs
184(1)
Commercial Ventures
184(2)
For-Profit Corporate Subsidiaries
186(1)
Summary
186(1)
Risk Management
187(11)
What Is Risk Management?
187(2)
Major Risk Management Issues Areas
189(8)
Insurance Issues
189(1)
Governing Board Issues
190(1)
Human Resource Management Issues
191(2)
Basic Internal Financial Control Issues
193(2)
Workplace Hazard Issues
195(1)
Volunteer Liability Issues
195(1)
Records Management Issues
196(1)
Summary
197(1)
Auditing
198(11)
Sources of Auditing Standards, Cost Policies, and Financial Management Requirements
198(3)
American Institute of Certified Public Accountants
199(1)
Comptroller General of the United States (General Accounting Office)
200(1)
Office of Management and Budget (OMB)
200(1)
Code of Federal Regulations
200(1)
Types of Auditors
201(1)
Types of Audits
202(5)
Pre-Audits
203(1)
Financial Audits
203(2)
Program-Specific Audits
205(1)
Grant and Contract Audits
205(1)
Performance Audits
206(1)
Single Audits
206(1)
Selecting an External Auditor
207(1)
Summary
208(1)
Appendix Sources of Financial Management Information on the World Wide Web(WWW) 209(3)
References 212(4)
Index 216

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