Modules on Board Financial Oversight
Resource Topic: Finance, Governance
Year Developed: 2019
Resource Type: Online Self-Paced Learning Modules
Primary Audience: Board of Directors
National Association of Community Health Centers
(See other resources developed by this organization).
Resource Summary: The Modules on Board Financial Oversight were produced by NACHC and feature subject matter experts from BKD. This five-part series addresses the board’s role in financial oversight, how to read key financial statements, and highlights some key financial performance indicators typically monitored by health center boards. The content in the modules is foundational and intended for those new to board service, board members who want to build their confidence related to financial oversight, or board members that want a refresher on this topic. The Modules can be viewed by individual board members, by the full board as part of its own ongoing board education,* or during new board member orientation.* The Modules include:
Module 1: The Board's Role in Financial Oversight
Module 2: Reading and Understanding the Balance Sheet (Statement of Financial Position)
Module 3: Reading and Understanding the Income Statement (Statement of Activities)
Module 4: Understanding the Importance of Cash Flow
Module 5: Key Financial Performance Indicators
Resource Details: Two Online Case Studies are also available to reinforce concepts covered in the Modules on Board Financial Oversight. The Case Studies can be used by individual board members or in a group setting. It is suggested that learners view all of the Modules prior to completing the Case Studies as they are designed to reinforce concepts covered in the Modules.
*Please note that these resources are designed to complement training done by health centers to familiarize board members with the health center’s own financial statements.