Standards for public agencies

2020 Edition

Financial Management Introduction

Purpose

The agency's ability to achieve its mission is based on sound financial managment practices that ensure efficient, data-informed use of its resources in accord with applicable legal and regulatory requirements.

Introduction

Sound financial management is the foundation for providing high quality services and achieving the agency’s mission and mandates. Agency leadership must foster a culture of accountability in all areas of practice, including the management of the agency’s finances, while acknowledging that financial capacity and budgets may be determined by external entities. Accountability is established through clearly defined lines of authority and responsibility, adherence to internal control responsibilities, and by making the strategic connection between efficient and effective use of agency resources and improved outcomes. Effective financial management ensures that resources are being directed, in accordance with state mandates, to those programs or interventions that have the strongest impact on individuals and families served.
2020 Edition

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Note: Please see PA-FIN Reference List for the research that informed the development of these standards.