Fiscal Management
Fiscal management refers to the process of planning, organizing, directing, and controlling financial resources in an organization. It involves budgeting, forecasting, and monitoring expenditures to ensure that funds are used efficiently and effectively. Good fiscal management helps organizations achieve their financial goals while maintaining accountability and transparency.
Effective fiscal management also includes analyzing financial data to make informed decisions. This can involve assessing revenue sources, managing cash flow, and ensuring compliance with regulations. By implementing sound fiscal practices, organizations can improve their financial stability and support long-term growth, ultimately benefiting stakeholders and the community at large.