This course will present the fundamental knowledge and skills needed to develop and manage the budget and finances of a social impact organization and its programs. Students will learn to use the techniques necessary to: 1) Plan, develop, display, revise, monitor, and evaluate a program budget using different kinds of budget formats; 2) Evaluate past financial performance; 3) Evaluate and propose financial changes for the future; 4) Monitor and evaluate the cost-efficiency and cost-effectiveness of social impact programs and organizations. The course will include exercises to develop and manage a budget for a program in an organization, along with a review of relevant policies and procedures in these organizations. Students will learn to understand cost analysis, and calculate income and expense estimates. The pros and cons of using various types of budgets will be compared. Students will receive an introduction to the process of overall organizational financial planning and auditing, including such topics as the role of Boards of Directors and consultants in financial management, planning, and evaluation. Calculation of indirect (overhead) costs, allocation methods, and issues of continuation funding will be discussed. Students will learn to develop an annual budget.. Development of a budget will include estimating and allocating all costs, including that of of personnel, which is the major expense in human service programs. Students will learn how basic financial transactions are reported through standard accounting procedures, how revenues and expenses are monitored and how all the finances of the agency are consolidated into typical financial statements . Additional topics are introduced to highlight contemporary issues affecting financial stability and sustainability.
|Instructor:||Sunggeun (Ethan) Park|
|U-M Class #:||31122|
|Time:||Wed 9:00 AM - 12:00 PM|
press escape to closeProgram Type describes the program in which you are pursuing, i.e., residential or online part-time. At this time, residential students may not enroll in online part-time courses and online part-time students may not enroll in residential courses.
press escape to closeFormat refers to the instruction of an offering, i.e., in-person, hybrid, or online.
|Credits:||3 Credit Hours|
|Mgmt & Leadership||Elective (Host)|
|Policy & Political||Elective|
|Children & Families|
University of Michigan
School of Social Work
1080 South University Avenue
Ann Arbor, MI 48109-1106