Financial Management Essentials (FME)

Education for non-finance roles is also essential to successfully manage cost-centre budgets, guide teams and affect behavioural changes.

During the two-day program, participants utilise NSW Health case studies to develop knowledge and skills to effectively manage financial resources.

Participants consolidate the learning back in their working environment by undertaking a workplace report to identify and propose a measure to reduce costs, generate revenue or achieve more efficient operations.

Learning outcomes
  • List and explain key legal and ethical obligations of NSW Health managers and cost-centre managers
  • Recognise and appreciate the importance of ‘Value for Money’ in the context of NSW Health
  • Contribute to budget-development discussions
  • Participate in maintaining budget integrity and accountability
  • Interpret a financial report and explain variance
  • Explain the relationship between activity and costs
  • Identify cost relationships and cost drivers and explain the interrelationships between them
  • Engage staff to achieve efficient financial and resource management
  • Explain the importance of continuous monitoring and reporting
  • Use information from the budget/ financial and resource management plan to consider possible responses to favourable or unfavourable outcomes to achieve NSW Health objectives
Audience
  • NSW Health cost-centre managers or staff acting in a role with cost-centre managers responsibilities
Delivery
  • Workshops are scheduled at the request of NSW Health organisations or participants can enrol in a centralised course
Duration and elements
  • 2 day face-to-face workshop spread over a 4-8 week period, dependant on scheduling
  • Optional eLearning
  • Financial reporting project
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