Managing the finances of a VOPE in a transparent and responsible manner is imperative. This section covers some of the financial management issues that VOPEs would need to address.
According to the Business Dictionary (http://www.businessdictionary.com/definition/financial-management.html#ixzz32Fl435yz), Financial Management is defined as the planning, directing, monitoring, organizing, and controlling of the monetary resources of an organization. The money or funds entrusted to your VOPE should be managed in such a manner as to efficiently and effectively support the objectives of the VOPE. The Financial Management function is specialized and is usually the responsibility of the treasurer of your VOPE with the assistance of a bookkeeper or accountant and auditor.
The following Financial Management topics are discussed in this section: