We asked Brit Summerill, Partner with NOW CFO what lessons CFOs learned from the last recession. Here are a few things organizations need to do to start protecting themselves. Cash Flow Forecasting 13-week projection of the company’s available cash. Operational cost forecasting by week for the quarter—inventory, fixed costs, variable costs, payroll, etc. Establish Break-Even Point What is the minimum revenue Read More
4 Budget Rules for the 21st Century
For organizations managing to a calendar year, January told you how effective you were as a financial forecaster. Did it bring good news or bad? Is it what you expected? Does one month even matter? How organizations develop and use budgets has changed over the past decade and it’s essential that leadership reflect the new thinking toward financial strength. Twelve Month Budgets Are Arbitrary An annual budget is a Read More
Top Nonprofit CFO Shares Her Secrets for Financial Success
I met Sally Petersen about a year ago to discuss our common interest in nonprofit risk management. She brought great insight to the discussion, leveraging her obvious, deep experience in accounting and finance. I only learned later I was talking to powerhouse in the nonprofit financial management sector. During her 12 year tenure as CFO for Second Harvest Food Bank of Silicon Valley, she helped the organization Read More
