Nonprofit Monthly Financial Reporting Package
Timely, accurate monthly financial reports enable board members to fulfill fiduciary oversight responsibilities. This checklist ensures the monthly reporting package is complete, accurate, and board-ready within 15 days of month-end.
- Industry: Nonprofit
- Frequency: Monthly
- Estimated Time: 3-4 hours
- Role: Finance Manager / Treasurer
- Total Items: 27
Financial Statements
Verify all financial statements are prepared.
- Statement of Financial Position (balance sheet) prepared with prior month comparison?
- Statement of Activities (income statement) prepared year-to-date and current month?
- Cash flow statement or cash position report prepared?
- Prior year same-period comparison included?
- Restricted fund detail schedule showing individual grant balances?
Budget Variance Analysis
Prepare budget variance analysis.
- Budget vs actual variance report prepared for all income and expense categories?
- Significant variances (>10% or >$5,000) explained in narrative?
- Full-year forecast updated based on actual performance?
- Management corrective actions for negative variances noted?
Cash Position and Liquidity
Report on cash position and liquidity.
- Current cash balance clearly stated?
- Months of operating runway calculated?
- Restricted cash clearly separated from unrestricted cash available for operations?
- Significant upcoming cash obligations noted?
- Line of credit availability and usage noted if applicable?
Accounting Compliance
Verify accounting is GAAP-compliant.
- Financial statements prepared on accrual basis per GAAP?
- Bank reconciliation completed before financial statements prepared?
- Payroll liabilities properly accrued?
- Grant revenue recognized per FASB ASC 958-605 when conditions met?
Board Narrative and Context
Prepare board-ready narrative.
- Executive financial summary written in plain language for non-financial board members?
- Key financial metrics (days cash, program expense ratio) highlighted?
- Any financial concerns or risks disclosed transparently?
- Likely board questions anticipated and answered in narrative?
Distribution and Timing
Verify report is distributed timely.
- Report package distributed within 15 days of month-end?
- Report distributed to all board members?
- Finance or audit committee received report before full board?
- Prior month report comparison facilitates trend analysis?
- Monthly reports archived for audit access?
Related Nonprofit Checklists
- Nonprofit Financial Policy Annual Review and Update
- Nonprofit Investment and Endowment Management Review
- Nonprofit Accounts Payable and Disbursement Controls
- Nonprofit Payroll Processing and Compliance Review
- Nonprofit Fundraising Event Planning and Compliance Checklist
- Nonprofit Volunteer Background Screening and Risk Assessment
- Nonprofit Volunteer Scheduling and Retention Program Audit
- Nonprofit Event Day Volunteer Management
Related Financial Management Checklists
- Nonprofit Grant Tracking and Fund Accounting Ledger Review - FREE Download
- Nonprofit Donor Receipt and Acknowledgment Compliance Audit - FREE Download
- Nonprofit Annual Audit Readiness Review - FREE Download
- Nonprofit Annual Budget Development and Board Oversight - FREE Download
- Nonprofit Financial Internal Controls Annual Review - FREE Download
- Nonprofit Gift Acceptance Policy Compliance Review - FREE Download
- Nonprofit Financial Policy Annual Review and Update - FREE Download
- Nonprofit Investment and Endowment Management Review - FREE Download
- Nonprofit Accounts Payable and Disbursement Controls - FREE Download
- Nonprofit Payroll Processing and Compliance Review - FREE Download
Why Use This Nonprofit Monthly Financial Reporting Package?
This nonprofit monthly financial reporting package helps nonprofit teams maintain compliance and operational excellence. Designed for finance manager / treasurer professionals, this checklist covers 27 critical inspection points across 6 sections. Recommended frequency: monthly.
Frequently Asked Questions
What does the Nonprofit Monthly Financial Reporting Package cover?
This checklist covers 27 inspection items across 6 sections: Financial Statements, Budget Variance Analysis, Cash Position and Liquidity, Accounting Compliance, Board Narrative and Context, Distribution and Timing. It is designed for nonprofit operations and compliance.
How often should this checklist be completed?
This checklist should be completed monthly. Each completion takes approximately 3-4 hours.
Who should use this Nonprofit Monthly Financial Reporting Package?
This checklist is designed for Finance Manager / Treasurer professionals in the nonprofit industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.