Key responsibilities include:

Financial Oversight and Governance

• Monitor Financial Health: Ensure that ASCA’s finances are managed in accordance with best practices and legal requirements. Regularly review financial statements, budgets, and financial reports to assess the organization’s financial status.
• Board Reporting: Provide clear and concise financial reports to the members, helping them understand the organization’s financial performance, trends, and potential risks. Advise the members on financial matters and ensure appropriate actions are taken.
• Compliance and Internal Controls: Ensure that ASCA adheres to financial policies, legal requirements, and regulatory standards (e.g., tax filings, Tax Office regulations, and nonprofit reporting). Oversee internal controls and systems to safeguard the organization’s assets if any.
• Audit Oversight: Work with external auditors to ensure the completion of annual audits and the accuracy of financial reports. Review and approve the audit findings, and ensure any recommendations are implemented.

Budget Development and Financial Planning

• Annual Budget: Lead the development of ASCA’s annual budget in collaboration with the Executive Director, and other key staff. Ensure that the budget aligns with the organization’s strategic goals and priorities while being fiscally responsible.
• Financial Forecasting: Work with the finance team to develop financial forecasts and projections. Assess the impact of financial decisions on the organization’s long-term sustainability and ensure adequate reserves are in place.
• Fund Allocation: Ensure that resources are allocated in a way that supports the organization’s mission-driven activities and health programs, while maintaining financial stability. Review and approve financial allocations in line with organizational priorities.

Fundraising and Financial Strategy

• Support Fundraising Efforts: Provide financial expertise and oversight in fundraising campaigns, ensuring that the organization’s financial needs are met and that funds are being used effectively to support programs.
• Revenue Monitoring: Regularly track and review sources of revenue, including grants, donations, and program income. Ensure that the organization is maximizing its revenue opportunities and managing income in a sustainable way.

Financial Policies and Risk Management

• Policy Development: Lead the development of financial policies and procedures that ensure proper financial management, transparency, and accountability. Review policies regularly and recommend updates as necessary.
• Risk Management: Work with the board and staff to identify and mitigate financial risks. Ensure appropriate insurance coverage is in place, and that the organization is prepared for potential financial challenges, such as economic downturns or changes in funding.
• Monitoring Financial Health Indicators: Keep a close eye on key financial indicators (e.g., cash flow, liquidity, debt levels) and advise the board on any concerns or red flags.

Financial Reporting and Transparency

• Accurate Financial Reporting: Ensure that financial reports are accurate, timely, and comply with relevant nonprofit accounting standards (e.g., GAAP, FASB). Provide transparent financial information to stakeholders, including donors, funders, and the public.
• Donor Reporting: Ensure that financial reports to donors, grantors, and other funding bodies meet their requirements. Ensure that funds are allocated and spent in accordance with donor restrictions and guidelines.
• Public Accountability: Maintain the trust of stakeholders by ensuring the organization’s finances are transparent, well-documented, and easily accessible. Collaboration with Executive Director and Finance Team
• Financial Strategy and Decision Making: Work closely with the Executive Director and the finance team to make informed decisions about the organization’s finances. Provide financial guidance to staff, especially in areas like program funding and operational cost management.
• Support Leadership Team: Provide financial advice and strategic input during organizational planning and decision-making processes. Offer insights into how financial factors may impact programs, operations, and long-term goals.
• Engage with Donors and Funders: Represent the organization’s financial needs and goals to donors, grant makers, and other key stakeholders, fostering trust and accountability in how funds are managed and used.
• Building Financial Partnerships: Work to build and strengthen relationships with funding bodies, government agencies, and other partners to ensure the organization’s long-term financial sustainability.