Career Lesson from a Chief Operating Officer at Christ-Centered Ministries
Jameese, Chief Operating Officer at Christ-Centered Ministries, learned the critical importance of meticulous financial record-keeping when dealing with external funding sources, stating that a "lack of having policy and procedures will get you shut down." This lesson, born from a county audit demanding complete transparency regarding budget allocation and expenditure, emphasizes the necessity of maintaining impeccable accountability to avoid suspicions of misappropriation of funds, especially within resource-constrained sectors.
Executive/Leadership, Financial Management, Nonprofit Management, Accountability, Policy and Procedures
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Jameese Smith
Chief Operating Officer
Christ-Centered Ministries
None
UCLA Anderson School of Business - Certificate
General Studies / Not Applicable
Faith-Based Services , Nonprofit, Foundations & Grantmaking
Operations and Project Management
None Applicable
Video Highlights
1. Maintain meticulous financial records to ensure transparency and accountability when dealing with external funding sources.
2. Proactive financial record-keeping can prevent misunderstandings and dispel concerns about misallocation of funds.
3. Strong financial policies and procedures are crucial for maintaining credibility and avoiding disruptions in operations or funding.
Transcript
What is one lesson that you have learned that has proven significant in your career?
When you're handling funding from sources like the government or the county, be prepared to show and explain how funds are allocated and spent. The benefit from doing so is significant. A lack of policies and procedures will get you shut down.
I'll never forget the time I had a meeting with the county. They wanted to know about our budget and the money they were giving us. Their point was, "Whose pocketing the money?"
We had all our ducks in a row and our paperwork showing them where things had been allocated, how things were paid out, and expenses. I also had to show them my bank account to demonstrate that any money we weren't spending was sitting right there in the bank. That dispelled their thought about someone pocketing anything.
It's a real thing that actually happens in this industry because there's so much work to be done with limited resources. You wonder where all the money that's been expended for support is going. So, you have to stay accountable at all times.
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