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Financial Management Assessment Tool (FinMAT) - P4H Network

Financial Management Assessment Tool (FinMAT)

Short description
There are two ways in which this tool can be implemented. The first is to have an external facilitator to use the tool to assess an organization’s financial management capacity, developing a short-term action plan address the most critical areas. The second option is to have an internal team to use the tool to identify weak areas and develop an action plan to address weaknesses.

Purpose
The goal of FinMAT is to assist organizations to evaluate their financial management capacity in key areas.

Methodology and type of data required
FinMAT is divided into 10 financial management components: organization and personnel; budgeting; accounting and recordkeeping; purchasing and procurement; payroll; timely payment and invoicing of goods and services; cash management; stock, inventory and fixed assets; audit; and use of information.
First, the FinMAT team responds to a series of questions to determine the organization’s strengths and weaknesses in financial management and then it develops an action plan to address weaknesses.

Users/Target audience
Health managers in: NGOs or private-sector institutions (e.g. hospitals), ministries or other public-sector institutions, central offices or headquarters

Organization
Management Sciences for Health (MSH)

Contact
Sara Weinstein
Management Sciences for Health
784 Memorial Drive
Cambridge, MA 02139 USA
Phone: 617-250-9500
Fax: 617-250-9090
Email: sweinstein@msh.org

Website
http://erc.msh.org/toolkit/Tool.cfm?lang=1&TID=134&CID=3

Keywords
assessment tool

Note