Project Funding Tracking and Control Template

Project Funding Tracking and Control in Priority Matrix

Monitor and control funding for various projects within your NPO to ensure financial goals are met.

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Proposed Tasks

Critical & Immediate

• Develop a Contingency Funding Plan
  ☐ Identify potential scenarios where extra funding may be needed ☐ Develop a plan for sourcing and allocating contingency funds
• Develop a Funding Allocation Plan
  ☐ Identify all projects ☐ Estimate their funding requirements ☐ Allocate funds according to priority and available resources
• Develop Financial Forecasts
  ☐ Develop forecasts based on current financial data and trends ☐ Use forecasts to inform financial planning
• Ensure Compliance with Financial Regulations
  ☐ Keep up to date with relevant financial regulations ☐ Ensure all financial management practices are compliant
• Review and Approve Project Proposals
  ☐ Review financial aspects of project proposals ☐ Approve proposals that are financially viable
• Set up a Budget Monitoring System
  ☐ Choose a budget monitoring tool ☐ Customize it to meet our needs ☐ Train staff on how to use it

Important but not Urgent

• Conduct Annual Financial Audits
  ☐ Prepare all necessary documents for audit ☐ Work with auditors to ensure a smooth process ☐ Follow up on any recommendations from the audit
• Evaluate Financial Management Software
  ☐ Determine needs for financial management software ☐ Evaluate potential options ☐ Purchase and implement chosen software
• Implement Cost Saving Measures
  ☐ Identify potential areas for cost savings ☐ Implement measures to reduce costs
• Maintain Financial Security
  ☐ Implement measures to ensure financial data is secure ☐ Regularly review and update security measures
• Prepare Monthly Financial Reports
  ☐ Collect all financial data ☐ Prepare reports highlighting key information ☐ Share reports with relevant stakeholders
• Regularly Monitor Project Expenditures
  ☐ Set up a schedule for regular monitoring ☐ Ensure all expenses are recorded and categorized

Not Important but Urgent

• Conduct Quarterly Budget Reviews
  ☐ Review expenditure against budget ☐ Identify any variances and investigate causes ☐ Adjust budget allocations if necessary
• Maintain Relationships with Funders
  ☐ Regularly communicate with current funders ☐ Provide updates on how funds are being used ☐ Explore opportunities for additional funding
• Seek Out New Funding Opportunities
  ☐ Research potential new sources of funding ☐ Develop proposals for new funding opportunities
• Train Staff on Financial Management
  ☐ Identify training needs ☐ Organize training sessions ☐ Ensure staff understand their financial responsibilities

Not Important & Not Urgent

• Conduct Risk Assessment of Projects
  ☐ Identify potential financial risks in projects ☐ Assess impact and likelihood of risks ☐ Develop mitigation strategies
• Facilitate Financial Meetings
  ☐ Schedule and facilitate meetings to discuss financial matters ☐ Ensure all relevant parties are involved
• Manage Financial Records
  ☐ Ensure all financial records are accurately maintained ☐ Develop a system for easy retrieval of records
• Review and Update Financial Policies
  ☐ Review existing financial policies ☐ Update policies to reflect current needs and regulatory requirements