A new guide, Financial Policy Statements: Considerations and Sample Language, is now available to support CFC members in developing financial policies to detail their practices and monitor criteria related to key finance operations.
CFC Regional Vice President Alison Deelstra joined CFC moderators in a recent webinar to discuss the benefits of developing a financial policy and considerations for successfully crafting the document.
Members can watch a replay of the CFC Financial Webinar Series broadcast, “Setting a Financial Policy,” to learn about the essential components of a cooperative financial policy, locating resources to build target and operating procedures, and how to synthesize data to form sound financial policy recommendations.
“Financial policies provide guidelines and clear direction from the board of directors to management,” Deelstra said. “While each cooperative is unique, sound policies should include a purpose, responsibilities, planning documents, financial goals and parameters, and financial forecasting. Management should also rely on strategic plans and independent financial analysis to meet their cooperative’s individual needs.”
Download the Guide and Watch the Webinar Replay
Members can download the guide (PDF) by visiting the CFC Member Website then going to the Industry Insights page under the Resource Library section.
Members can watch a replay of the webinar by visiting the CFC Member Website then going to the Past Events page under the Events/Training section and then clicking on the Watch Past Webinars link.