How to effectively track and report restricted funding

Welcome to another episode of Ask a CFO. 

I'm your host, James Vanreusel, Founder and CEO at Vanreusel Ventures. In today's episode, we dive into a crucial topic for nonprofit organizations: how to effectively track and report restricted funding. 

Join me as we explore the definition of restricted funding, the process of tracking expenses, the challenges involved, and best practices to ensure seamless coordination among teams. We'll also discuss the importance of avoiding overlapping funding and maintaining audit readiness. 

So, whether you're a nonprofit CFO or simply curious about the intricacies of managing restricted funding, this episode will provide you with valuable insights. 

Key takeaways:

• Importance of effectively tracking and reporting restricted funding.
• Key steps: Create classes, tag expenses, coordinate with multiple teams, and maintain clear communication.
• Avoiding overlapping funding and ensuring transparency.
• Audit readiness and the significance of the TRNA schedule.

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