COA - Council On Accreditation

Sound financial management begins with the agency's commitment to providing high quality services relative to its mission or purpose. Inherent in these new standards is a recognition that public agencies may have limited ability to manage their own finances, and their budgets may be determined, and approved or rejected, by a legislative or other body. However, public agencies must still demonstrate that management has fostered an agency culture that supports sound financial practices and accountability at all levels of the agency. Accountability is established through clearly defined lines of authority and responsibility, and personnel receive a clear message from the top that internal control responsibilities are to be taken seriously.


	PURPOSE: Agency viability and positive financial outcomes are achieved through diligent application of sound financial management practices that accord with applicable legal and regulatory requirements.

RELATED FILES

NA Request.doc
PA-FIN Reference List.pdf
PA-FIN Template.doc


	PRACTICE Established actions or ways of proceeding in the regular performance of organizational duties. Policies and procedures often guide practice.


	QUALITY In this context, the extent to which contemporary and generally recognized standards for professional practice are met and exceeded, and desirable service outcomes achieved.


	SERVICE One or more organization-operated programs or activities that have a common general objective and deploy the organization's material and human resources in a planned and systematic manner. An organization that publicly promotes or identifies itself in writing as offering a service, is licensed to deliver a service, assigns personnel and/or space to a service, or allocates financial resources to a service is considered to offer that service.


	CULTURE The customs, habits, values, skills, technology, beliefs, and religious, social, and political behaviors of a group of people in a specific period of time.


	ACCOUNTABILITY The extent to which an organization is answerable for its processes and outcomes to a variety of relevant stakeholders including: consumers, community representatives, governing bodies, and governmental regulators.


	PERSONNEL The body of employees and/or volunteers that carries out the organization's tasks under the organization's administration and/or supervision. This definition does not include foster parents who are specifically referenced in relevant standards


	MANAGEMENT See ADMINISTRATION