secondary discussion Respond to EACH these two post in your own words 1.Financial Management Financial managing includes overall budget plans for a

secondary discussion

Respond to EACH these two post in your own words

1.Financial Management

Financial managing includes overall budget plans for a company.  An important aspect of Financial Management involves the Office of Management and Budget (OMB), which is responsible for submitting strategic plans related to program activities, as well as yearly performance plans to line up with associated budgets (Nigro, 2007).

How does financial management play a significant role in planning for tactical and operational endeavors?

In order for organizations to effectively carry out their core mission of safeguarding the public, organizations must ensure that they have the necessary financial resources at hand. This requires the application of sound and effective financial management practices (Prof et al., 2022). The necessary financial resources ensures needs are met in disaster incidents.  

References

Nigro, F. (2007). The New Public Personnel Administration. Wadsworth.

Prof S., Megha S., & Bhar, M. (2022). Financial Management. Research Gate.

2. The Emergency Management Plan (EMP) for Financial Management is a vital tool for managing resources effectively during emergencies. It outlines the procedures for allocating funds through Budget, Procurement, Fiscal Program Management, Financial Grants Management, and Disbursements. Financial management plays a crucial role in planning for tactical and operational endeavors, as it facilitates efficient resource allocation, cost estimation, expense monitoring, contract, and vendor management, and maintains documentation and compliance reporting for transparency. This comprehensive approach ensures that resources are utilized judiciously to support emergency operations, promote financial stability, and optimize effectiveness in response and recovery endeavors.

In essence, financial management ensures that the available budget is used wisely and efficiently. For example, let’s consider a fire station with a two-million-dollar budget. Spending 1.5 million dollars on a fancy fire truck and leaving insufficient funds to maintain other essential equipment would not be in the station’s best interest. Proper financial management ensures that the budget is distributed appropriately and that all necessary equipment is up-to-date.

Reference

Disaster Financial Management Guide. (n.d.). 

Links to an external site.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Turning points in criminal behavior

Instructions: Read the Case Study #3 Article, and answer the 4 questions below. Substantive answers should be at least 2 paragraphs where a paragraph is at least 5 sentences.   1. The textbook mentions a variety of risk factors that, when present, exponentially increases the likelihood of criminality, including social,

A major component for this course will be the Marketing

A major component for this course will be the Marketing Plan which is the  for this course a You are working as if you in an internal marketing department, or external strategic consulting company on a “real world” case.  You  will need to gather information to assist with the creation

1. Read the report “Inclusion in the Director’s Chair”: Inclusion

1.  Read the report “Inclusion in the Director’s Chair”:  Inclusion in Director’s Chair.pdf 2.  Write a 500 – 750-word response to the report that addresses each of the following questions: What was the most surprising result highlighted in this study?  Why? If you were in charge of a major film

POPULATION -> TALLAHASSEE FLORIDA Scenario You have assessed your local

 POPULATION –> TALLAHASSEE FLORIDA  Scenario You have assessed your local population health needs and identified data sources and data sets that are needed to help providers make immediate gains in patient outcomes. Your health systems Board of Directors is requesting that you develop a high-level population health management program dashboard.

Prior to beginning work on this discussion forum, Read Chapter

Prior to beginning work on this discussion forum, Search the internet for three examples in which applied psychology is used in talent management. Reviewing current events is a good place to begin. How does this method of management contribute to organizational goals? Your initial response should be a minimum of

Below is a link to an online article with 10

Below is a link to an online article with 10 questions , select 7 to answer , read article   Select 7 of the 10 questions; List the 7 selected questions in a bulleted fashion, briefly describing the answers in your own words for each question. (3 points per question -total possible points

Your first patient has a cardiovascular problem. Use the cardiovascular medical word elements chart from your textbook to develop at least 10 medical terms that would be appropriate for use in evaluat Nursing Assignment Help

Your first patient has a cardiovascular problem. Use the cardiovascular medical word elements chart from your textbook to develop at least 10 medical terms that would be appropriate for use in evaluating a cardiovascular complaint. Make sure you list at least 3 tests and 3 procedures having to do with

1-Critique quality of the literature reviews conducted for two different

 1-Critique quality of the literature reviews conducted for two different types of studies- a quantitative and qualitative research.  2- Identify and discuss the research questions, sampling and sampling sizes, research designs (qualitative vs. quantitative), hypothesis, data collection methods, and research findings.  3-Discuss the credibility of the sources and the research/researchers

Epidemiology and Surveillance

Research the public health agency in Chicago, IL and develop a presentation on its structure, response capabilities, surveillance tools, and role in emergency management. In your response, include a description of the community served by the department (Chicago), its emergency response structure, surveillance systems that are used at hospitals, biohazard

The Vigenère Cipher

Create a message of four or five words, and then choose three passwords of varying lengths (at least one should be shorter than the message itself). Then, using the substitution table below, perform simple encryption on the message.   Plaintext Message: Password Ciphertext             Compare

For your week Four Case/Questions Assignment, complete the following case

For your week Four Case/Questions Assignment, complete the following case from Chapter Thirteen.Please submit your answers typed in a Word Document via the assignment link above by Sunday midnight.  Leadership Matters – Page 543 Read the Case Study entitled, “Leadership Matters” on page 543. Then, follow the instructions at the

Environmental health concerns are major risk factors globally. One study

Environmental health concerns are major risk factors globally. One study looked at environmental risk factors and concluded that 22% of global death and 23% of the global burden of disease are attributed to environmental risk factors. After reading this week’s chapters and reviewing the PowerPoints and websites provided, please respond

Week 6 Assignment 2 – Learning Activity: Career Mentoring 2

  Week 6 Assignment 2 – Learning Activity: Career Mentoring 2 If you have not already done so, you are encouraged to take time this week to choose a mentor and/or complete at least one mentoring session. For this activity, submit a written summary of your mentoring experiences to date.

focus on the Medical Equipment Manufacturing Industry The report should

 focus on the Medical Equipment Manufacturing Industry  The report should include the following section: General environmental conditions: Discuss the influence of key factors (use the PESTEL framework) Focus on the Medical Equipment Manufacturing Industry.  (Use the PESTEL framework) Identify the factors that most significantly impact the industry and not on