From setting strategic targets to managing risk, Boards carry out an important role. Vital decisions are decisions are made in the boardroom based on information provided. Having access to accurate and succinct data serves both savvy as well non-accountant members of the board and enables good decision-making in a short period of time.
Ultimately Boards are charged with the due-diligent overseeing the health and well-being of organisations where solvency and good governance reign.
Calxa helps us track against key strategic directions so the board can understand how we are going.
It helps management particularly look where we need to make some decisions around directing resources or where our expenses need to be better understood.
Libby Mears – CEO, Leisure Networks
Exercising Due Diligence
Monitor Key Strategic Directions
Key Performance Indicators (KPIs) are vital in helping board members to drill into the heart of the organisation's activities and to better understand trends and patterns. Quickly see how some services may run at a profit or are doing less favourably.
Calxa displays KPIs as a number or in a visual chart, whilst Metrics capture non-financial data to enable the calculations of organisation-specific units like camp participants or transport kilometres. This is particularly important to manage the performance of grant delivered services or unit costing for NDIS funding models.
Download our free eBook "Unit Costing for Dummies" to see how the NDIS transition can be planned.
Avoiding Trading while Insolvent
Understanding the current cash position is vital to maintain solvency and fulfill the responsibilities charged to Boards.
Based on approved budgets, that can be locked off to prevent tampering, Calxa's cashflow forecasts can look ahead for up to 15 years. The capability to re-forecast unspent components gives flexibility to predict the REAL funds.
The colourful graphs show the organisation's position at a glance and are easily understood by non-accountants, so all board members can participate equally in the decision-making process to satisfy their responsibilities.
Planning for the Future
The only way to maintain a sustainable organisation is to know your organisation's cash position.
With funding for many Not-for-Profits now flowing retrospectively (as opposed to advanced grants), organisations need a buffer to hold out for the 30-90 day-period before receiving their NDIA claims reimbursements.
Knowing your current and future cashflow position gives your organisation the upper hand to make informed decisions. Calxa will easily calculate ratios for Working Capital and Cash Reserves, as well as predicting your bank balance into the future.
Reports for Decision-Making