Essential Year-End Financial and Program Housekeeping Tips for Funded Agencies

Happy Holiday Season!

Joint Source Consultants

As the year draws to a close, funded agencies face a critical period to wrap up financial and program tasks. This time demands focused attention to ensure smooth operations and readiness for the new year. Many agencies struggle with staffing shortages during the holiday season, which can disrupt service delivery. This post highlights key steps agencies should take now to stay on track and maintain strong service capacity.

Holiday-themed office desk with year-end documents and calendar

Review and Reconcile Financial Records

Before the new year begins, agencies must complete a thorough review of their financial records. This includes:

• Reconciling accounts to ensure all transactions are recorded accurately.

• Verifying grant expenditures align with funding agreements.

• Closing out purchase orders and processing outstanding invoices.

• Preparing financial reports required by funders.

  
  

For example, if your agency received a federal grant, double-check that all expenses are allowable and properly documented. This prevents delays in future funding and maintains compliance.

Assess Program Performance and Outcomes

Evaluating program results helps agencies identify successes and areas for improvement. Key actions include:

• Collecting and analyzing data on service delivery.

• Comparing outcomes against goals set at the start of the funding period.

• Documenting lessons learned to inform planning.

  
  

A community health program might review client engagement numbers and health outcomes to adjust strategies for the coming year. This reflection supports continuous improvement and stronger impact.

Plan for Staffing Challenges During the Holidays

Staff shortages are common as employees take time off during the holiday season. Agencies can manage this by:

• Creating flexible work schedules to cover essential tasks.

• Cross-training staff so team members can fill in for each other.

• Communicating early about holiday leave policies and expectations.

• Prioritizing critical functions to maintain service delivery.

  
  

For instance, a social service agency might assign backup staff to handle client emergencies while others are on leave. Clear communication and planning reduce disruptions and keep programs running smoothly.

Update Policies and Procedures

Year-end is a good time to review and update agency policies. Consider:

• Revising financial controls to address any gaps found during audits.

• Updating program guidelines based on recent experiences.

• Ensuring staff understand any changes through training or meetings.

  
  

Keeping policies current supports accountability and prepares the agency for new funding cycles.

Prepare for the New Year’s Funding and Reporting

Agencies should start preparing for upcoming funding opportunities and reporting deadlines by:

• Reviewing grant agreements for new requirements.

• Setting internal deadlines for report submissions.

• Gathering necessary documentation ahead of time.

  
  

This proactive approach helps avoid last-minute stress and ensures timely compliance.

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