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Part 2 of the Advanced RCO Bootcamp covers nonprofit fiscal management and the day-to-day money side of running the organization. Participants work through budgeting fundamentals, putting a budget into practice as a living document, financial oversight and fiduciary responsibility, and organizational audits, building the confidence to read the numbers and act on what they say.

Course Content

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Part 2: Fiscal Management & Budgeting — Introduction
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Non-Profit Fiscal Management - Advanced
Non-Profit Fiscal Management – Advanced: Learning Objectives
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Putting Your Budget Into Practice 4 Topics
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Lesson Content
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Putting your Budget into Practice
Budget Review: Phases 1 and 2
Budget Review Phases 3 and 4
Budget Review Phases 5, 6 and 7
Unlocking the Power of Your Budget 5 Topics
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Key People and Positions
Key Milestones & Stakeholders in the Budget Process
Key Roles: Distributing the Budget
Key Points to Include in a Budget
Sample Budget Summary/Overview and Chart
Fiduciary Responsibilities 6 Topics
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Lesson Content
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The Role of a Nonprofit Board
Meaningful Financial Stewardship
Questions for the Board
Assessing Readiness
Key Takeaways: Fiduciary Responsibilities
Internal Vs External Audits – Board Perspective
Organizational Audits 10 Topics
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Lesson Content
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What is an Audit?
What Does an Audit Include?
Audit Requirements Across Funding and Regulation
Internal Versus External Audits
The Nonprofit’s Role in an Audit
Internal Vs External Audits – Board Perspective
Audit Outcomes
Preventive and Corrective Action: Qualified Audit Outcome
Preventive and Corrective Action: Adverse Audit Outcome
Preventive and Corrective Action: Disclaimer of Opinion Audit Outcome
Wrap-Up
Part 2: Fiscal Management & Budgeting — Wrap-Up & Next Steps
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