Effective Financial Management: Lessons from Catholic Church Managed Health Institutions in Kenya

Financial management plays a big role in the overall management of an organization, be it profit or non-profit. Its primary role is to plan, acquire, and utilize funds to maximize the effectiveness of the institution. This textbook, therefore, is intended to be a useful resource for both accountants and finance officers working in Catholic Church managed health institutions. It aims at equipping them with knowledge, attitude and skills that are necessary when handling finances. It can also be helpful to other Church institutions such as schools. The book is also intended to shed more light on the need for effective financial management to various stakeholders in Catholic Church managed health institutions and can as well be a useful tool to the management for planning. The book discusses how institutional age, corporate governance, sources of funds and financial training can determine effective financial management which is done through budgeting, internal control system, record keeping and financial reporting. To enhance understanding, various terminologies have been extensively explained before use. Emerging issues are also dealt with. This book is written in the light of increased scrutiny of Catholic Church managed health institutions of every size and type.