The Budgetary Cycle - Cash Management
Cash management is the process of managing revenue, expenditures and cash flow on a daily and monthly basis. It takes into account the procedures for receiving and disbursing funds following the Band's fiscal policy (see Sample Fiscal Policy).
With effective cash management, the Expenditure and Variance Reports can be accurately prepared. This in turn, allows for effective monitoring of expenditures and revenues on a monthly basis and enables the Controller to identify potential issues arising out of the financial activities of the Band.