Financial Management

Definition:  Demonstrates broad understanding of principles of financial management and marketing expertise necessary to ensure appropriate funding levels.  Prepares, justifies, and/or administers the budget for the program area.  Uses cost-benefit thinking to set priorities.  Monitors expenditures in support of programs and policies. Identifies cost-effective approaches.  Manages procurement and contracting.

Ideas for Developing this Competency: 

  • Prepare a return on investment plan for a program in your organization.
  • Attend a budget meeting.
  • Attend seminars sponsored by investment firms.
  • Develop a budget justification for a new project at work or in your community.
  • Identify ways to save costs on a work or community project.  Then help implement the change. 
  • Watch videos and view television programs on financial management issues. 
  • Read the Wall Street Journal and other publications that give you a better understanding of financial management. 
  • Join an investment club.
  • Watch a budget appropriation hearing and identify key information presented.
     
  • Serve as a treasurer for an organization.
     
  • Complete a detail at the Washington Office or state budget office.
     
  • Use the MIS data to strategize and make decisions.
     
  • Schedule a financial advisor to discuss budgeting and financial planning at your local office.