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
- NSW Health cost-centre managers or staff acting in a role with cost-centre managers responsibilities
- 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