September 3-5, 2024, Mabalacat City, Pampanga – The Coastal Conservation and Education Foundation (CCEF) participated in the PCNC Financial Management Workshop organized by the Philippine Council for NGO Certification (PCNC), under the INSPIRE Project funded by USAID and the Gerry Roxas Foundation (GRF) held at Park Inn by Radisson Clark. As part of its continuous efforts to enhance organizational capacities. This vital training, held over three days, was designed to elevate the financial management practices of partner Civil Society Organizations (CSOs), equipping them with essential knowledge and tools to ensure compliance and sustainability.
While program management often takes center stage in non-governmental organizations, the need for robust financial management cannot be understated. CCEF recognizes that effective financial management is not merely about compliance with donor requirements but is a cornerstone of organizational success. By participating in this training, CCEF’s leadership and finance team gained deeper insights into internal control systems, financial monitoring, auditing, and resource generation.
The training highlighted several areas of improvement, including:
- Internal Control Systems: Ensuring accurate and reliable financial reporting while preventing potential fraud.
- Monitoring and Evaluation: Utilizing financial statements as key tools for assessing the organization’s performance and ensuring that the Board of Trustees is engaged in reviewing financial health.
- Auditing Practices: Strengthening both internal and external auditing processes, ensuring alignment with CSO operations, and identifying risks effectively.
- Resource Mobilization: Creating sustainable fundraising strategies that align with CCEF’s goals and values.
The knowledge gained from the training will be directly applied to improve CCEF’s financial processes. A re-entry plan has been developed by the team to enhance the organization’s internal control systems, implement better financial monitoring practices, and adopt sustainable fundraising efforts. This will not only ensure compliance with regulatory bodies such as the Bureau of Internal Revenue (BIR) and the Securities and Exchange Commission (SEC) but will also bolster the foundation’s long-term financial health.
The PCNC Financial Management Workshop proved to be an invaluable experience for CCEF, equipping the team with enhanced skills and strategies to manage their financial resources more effectively. By refining their financial practices and exploring new fundraising opportunities, CCEF is better positioned to sustain and advance its conservation initiatives.
