Financial Management

Financial Management: Budget planning and management. Financial reporting and analysis. Investment and asset management. Grant and funding management.

• Budgeting and Forecasting: Assisting the medical association in creating and managing budgets, as well as developing financial forecasts to ensure that the association's financial goals are aligned with its mission and objectives.

• Financial Planning: Helping the association develop a comprehensive financial plan that outlines strategies for revenue generation, cost control, and long-term financial sustainability.

• Financial Analysis: Conducting financial analysis to assess the association's current financial health, identify financial strengths and weaknesses, and provide recommendations for improvement.

• Investment Management: Advising on the association's investment portfolio, helping them make informed investment decisions, and ensuring that investments align with the organization's risk tolerance and financial goals.

• Cash Flow Management: Implementing strategies to manage cash flow effectively, ensuring that the association has enough liquidity to meet its operational needs.

• Tax Planning: Providing guidance on tax strategies and compliance with Canadian tax laws to minimize tax liabilities and maximize tax benefits.

• Grant and Funding Management: Assisting in identifying and applying for grants, government funding, and other financial opportunities that can support the association's mission and projects.

• Financial Reporting: Preparing accurate and timely financial reports, including income statements, balance sheets, and cash flow statements, to keep the association's leadership informed about its financial performance.

• Internal Controls and Risk Management: Developing and implementing internal controls to safeguard the association's assets and manage financial risks effectively.

• Compliance and Regulatory Support: Ensuring that the association complies with all relevant financial regulations, including those specific to non-profit organizations and the healthcare sector.

• Cost Management: Identifying cost-saving opportunities and optimizing the association's spending to enhance financial efficiency.

• Debt Management: Advising on debt management strategies, including when and how to take on debt, and helping the association secure favorable financing options when needed. *Use of third party.

• Financial Training and Education: Offering financial training and educational programs for the association's staff and leadership to improve financial literacy and decision-making.

• Strategic Financial Planning: Aligning financial strategies with the association's strategic goals and helping them adapt to changing economic conditions.

• Audit Preparation: Assisting with the preparation for financial audits, ensuring compliance with audit requirements, and addressing any audit findings.