Board Governance Series: Article 4- Effective Tools for Fiscal Management and Proactive Monitoring

Fiscal management continues to be a top technical assistance (TA) request for the Next Level Now (NLN) Collaborative, where we are regularly contacted with questions on compliance with audit requirements, procurement standards, and strengthening internal controls. Within this fourth article of our Board Governance series, we focus on universal resources that we typically provide organizations for fiscal management and monitoring TA topics, which offer strategies that can be easily implemented into current processes.

Fiscal Management: As we continue to see a high amount of staff turnover at the local level, it’s more important than ever to ensure fiscal management processes are clear and in place. The below training series and high overview resources provide an excellent framework for your board to review and utilize as an ongoing resource.

• Tailored Training on Fiscal Management: Virtual Academy Sessions and Resources
• Fiscal Management: Allowable Costs
• Creating Partnerships, Braiding Funds, and Leveraging Resources in the Workforce Innovation and Opportunity Act (WIOA) Workforce System
• Learn about Financial Management and Procurement Requirements under WIOA

Monitoring: Internal monitoring and third-party monitoring are necessary for program oversight and compliance. The below tools offer boards the ability to adjust their processes accordingly to encourage proactive preparation and avoid findings.

• Monitoring
• WIOA Youth Program Elements Monitoring Checklist
• A Framework for Evaluating Implementation of Workforce Education Partnerships and Programs

If you haven't already, we encourage you to view the first part, second part, and third part of the series! 

• Last Updated:
• Created:
• Resource Publication Date: 2024
• Posted by: Danielle Herbert
• Posted in: Next Level Now