Adding insult to injury: The fiscal impact of a failed FEMA disaster reimbursement system upon Florida municipalities

2021 ◽  
Vol 19 (2) ◽  
pp. 117-129
Author(s):  
David Mitchell, PhD ◽  
Claire Connolly Knox, PhD
Keyword(s):  
Natural Disasters ◽  
Financial Management ◽  
Management Practices ◽  
City Managers ◽  
Fiscal Impact ◽  
Central Florida ◽  
Disaster Policy ◽  
Emergency Managers ◽  
Local Government Level

The financial aspects of natural disasters test fiscal solvency by draining municipal reserves and diverting funds from vital operations until Federal Emergency Management Agency (FEMA) reimbursements arrive, if they arrive. With record-breaking natural disasters, the resulting fiscal strain is hampering nearly every community’s effort to increase resiliency. Without systemically assessing the financial responses to natural disasters at the local government level, we are perpetuating the paradox of government disaster policy making and decreasing our community’s resiliency. This study bridges the gap between the financial management and disaster recovery literatures by applying resource dependency theory to an exploratory case study of local emergency managers and city managers in Central Florida following hurricanes Matthew, Irma, and Michael. Collectively, the respondents describe the reactive and dependent nature of the current federalist approach to natural disaster financial management practices; which ultimately threatens fiscal viability for many American communities.

Examining Financial Controls Practices Among Religious Non-Profit Organisations: A Case Study of Malaysia

2021 ◽  
Vol 8 (2) ◽  
Author(s):  
Rozaidy Mahadi ◽  
Noor Kaziemah Sariman ◽  
Andy Lee Chen Hiung
Keyword(s):  
Financial Management ◽  
Management Practices ◽  
Financial Control ◽  
Non Profit ◽  
Control Framework ◽  
Financial Governance ◽  
Financial Scandals ◽  
Government Organisation ◽  
Financial Misconduct

There have been many financial scandals associated with religious-based non-profit organisations (RNPOs), their involvement in unethical and wrongdoing has pressured non-profit organisations, especially religious-based NPOs (RNPOs) to start adopting highly transparent and accountable financial management practices. Despite many efforts to improve the RNPOs’ service quality, their integrity has been tinted with many scandalous incidents of funds embezzlement and corruption. Poor financial accountability and lack of legal requirements are argued to be the underpinning reasons for such financial atrocities occurring. With the absence of sound financial governance and comprehensive financial regulations, it has been impaired the government’s ability to detect, prevent and correct RNPOs’ financial misconduct. To prevent financial misconduct from repeatedly occurring, having cogent financial control practices will ensure the RNPOs upholding their accountability duties to the clients they have served. Therefore, the objective of this paper is to examine Malaysian RNPOs financial controls practices. In doing so, various religious-based NGOs’ (i.e. Islam, Buddha, and Christian) representatives were interviewed, analysed, and appraised with Simon’s (1994) control framework. The findings indicate that the RNPOs financial control practices are mediated by the virtue of the religions that they have adopted, the RNPOs’ affiliation (i.e. local-based, foreign-based, and/or semi-government organisation), and the level of sponsorships and grants they have received.

scholarly journals THE FINANCIAL MANAGEMENT PRACTICE OF MOSQUE: STUDY CASE IN MALAYSIA

2019 ◽  
Vol 16 (1) ◽  
pp. 108-121
Author(s):  
Nining Nining Islamiyah ◽  
Keyword(s):  
Data Collection ◽  
Performance Assessment ◽  
Financial Management ◽  
Management Practices ◽  
Management Practice ◽  
Assessment And Evaluation ◽  
Study Case

This study aims to explain the financial management practices of the mosque. Specifically, the focus of this study is to explore and investigate how financial management practices in the mosque. A case study of one Malaysian mosque is undertaken. To achieve the objective of this study, the researcher used vari­ous techniques of data collection, including interviews, observations, and reviews of the documents. The findings reveal that the SHAS mosque has four mechanisms to manage financial management practices. The tools are performance assessment and evaluation, participation, regulation, and social auditing. This study concludes that financial management practices are a necessary process to support the accounta­bility of the mosque. Especially, secondary accountability relates to the responsibility of mosque managers toward capital providers of the mosque. The results of this study give some implications for the improvement of financial management practices, particularly in the mosque.

scholarly journals EVALUATION OF INLET MANAGEMENT PRACTICES AT NAVIGATION INLETS IN SOUTHWEST FLORIDA, USA

2011 ◽  
Vol 1 (32) ◽  
pp. 89 ◽  
Author(s):  
Mohamed A Dabees ◽  
Brett D Moore
Keyword(s):  
Management Practices ◽  
Spatial Scales ◽  
Natural Conditions ◽  
Central Florida ◽  
Southwest Florida ◽  
Term Evolution ◽  
Morphologic Response ◽  
Temporal And Spatial

This paper describes numerical modeling of long-term evolution of inlet systems in southwest and central Florida. The paper discusses a general methodology developed following four case studies and application to the case study of Gordon Pass in southwest Florida. The case study of Gordon Pass demonstrates the importance of considering large temporal and spatial scales in evaluating morphologic response to inlet management practices. The results describe the evolution of Gordon Pass from 1930 to present. The analysis begins with natural conditions that existed before dredging or inlet modifications and investigates how inlet evolution can be influenced by navigation improvements and provide tools to evaluate alternatives.

Issue of Financial Management Practices among SMMEs: A Case Study of Former Transkei Homelands in Eastern Cape Province South Africa

10.31355/70 ◽  
2020 ◽  
Vol 4 ◽  
pp. 001-007
Keyword(s):  
South Africa ◽  
Financial Management ◽  
Financial Stability ◽  
Management Practices ◽  
Future Research ◽  
First Year ◽  
Eastern Cape Province ◽  
Eastern Cape ◽  
Management Skills

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose...................................................................................................................................................................................................... The goal of this study was to investigate the financial management practices of SMMEs operating in under developed regions as a challenge facing SMMEs operating in underdeveloped regions using former Transkei Homelands in Eastern Cape Province as a case study. Background......................................................................................................................................................................................................... In South Africa, the works of Cameron and Miller (2008) highlights that South Africa is ranked among top countries in the world with high failure rates of SMMEs during the first year of establishment. This calls for continues research works to identify factors that could be impeding the progress of SMMEs in South Africa. According to Jayansankaran, (1999) proper financial management practices are among the key deciding factors when it comes to the survival of SMMEs. Mostly SMMEs in underdeveloped regions are owned and managed by one person, the lack of financial management competence on the side of the SMMEs owners or managers in turn could bring serious consequences to the financial stability and grow of the SMMEs. It is against this background that this study focuses on financial management practices among SMMEs entrepreneurs operating their businesses in former Transkei Homelands where survival of SMMEs are critical for economic development of the region. Methodology....................................................................................................................................................................................................... The researcher in this study uses both quantitative and purposive sampling approaches to design an exploratory study to sample 68 SMMEs owners/managers based in the various towns of the selected region. Contribution........................................................................................................................................................................................................ This research will add to the growing knowledge about identifying factors that may be impeding survival of SMMEs. Findings .............................................................................................................................................................................................................. The major findings of the study revealed that 95.59% of the owners/managers have no financial management/accounting skills as well as 58.82% of the internal system of recording financial transactions are not audited. Recommendations for Practitioners................................................................................................................................................................. In view of the findings it is recommended that agencies charged with looking after SMMEs provide training in the area of financial management skills for the SMMEs owners/managers. Recommendation for Researchers.................................................................................................................................................................... Future studies can include the other four principles of financial management principles highlighted by Armstrong (2001). Impact on Society............................................................................................................................................................................................... The research will assist to highlight to funders of SMMEs, policy makers and business support agencies the need for educating SMMEs entrepreneurs especially those operating their businesses in underdeveloped regions in proper financial management practices in order to curve the problem of cash flow faced by SMMEs which leads to SMMEs failure. Future Research................................................................................................................................................................................................. Exploring the skills of the SMMEs entrepreneurs’ to prepare, understand and interpretation of financial statements are critical in this context.

Natural Disasters and Financial Implications for Subnational Governments: Evidence from China

2019 ◽  
Vol 48 (1) ◽  
pp. 72-101 ◽  
Author(s):  
Qing Miao ◽  
Can Chen ◽  
Yi Lu ◽  
Michael Abrigo
Keyword(s):  
Natural Disasters ◽  
Financial Management ◽  
Financial Risk ◽  
Central Government ◽  
Provincial Government ◽  
Intergovernmental Transfers ◽  
Fiscal Impact ◽  
Vector Autoregression Model ◽  
Autoregression Model ◽  
Panel Vector Autoregression

Because of their uncertain and destructive nature, natural disasters can pose severe shocks to societies and jurisdictions across all levels of government. Disaster-related financial risk is a critical problem in developing countries where people are highly vulnerable to the losses of natural hazards and climate change. This study empirically examines the fiscal impact of natural disasters at the provincial government level in China. Using a panel vector autoregression model, we find that natural disasters increase a province’s total governmental spending and intergovernmental revenues received from the central government while having little effect on its tax revenues. In particular, earthquakes and tropical storms cause larger impacts on spending and intergovernmental transfers. We also show that governments in higher-income Chinese provinces experience larger increases in spending and intergovernmental transfer following natural disasters than lower-income provincial governments. Our results provide important implications for the financial management of disaster risks in the developing context.

Financial Management of Tires Retail and Restaurant Business in Greater Jakarta

2019 ◽  
Vol 2 (4) ◽  
pp. 267-275
Author(s):  
Sung Suk Kim ◽  
Jacob Donald Tan ◽  
Rita Juliana ◽  
John Tampil Purba
Keyword(s):  
Financial Management ◽  
Management Practices ◽  
Working Capital ◽  
Structured Interviews ◽  
Short Term ◽  
Direct Observations ◽  
Medium Enterprises ◽  
Cash Reserves ◽  
Retained Earnings ◽  
Computerized System

This study aims to explore the financial management practices ofsmall-and-medium-enterprises (SMEs) in the Greater Jakarta (Jabodetabek). We investigate into 3 SME cases by conducting the semi-structured interviews with the owner-managers and using direct observations to know the practices of financial management of SMEs. Through the research, we have found six propositions related to the practice of short-term financial management. They apply bootstraps to ensure availability of working capital. They set aside cash reserves from retained earnings and minimize loans from financial institutions. They have the computerized system to track receivables facilitating working capital needs. They keep theirinventory control efficient to manage working capital. They screen customers using transactional records and reputations to minimize the risk of bad debts.

An Empirical Study of the Financial Mismanagement of Internally Generated Revenue in Ife South Local Government of Osun State, Nigeria

Think India ◽  
2016 ◽  
Vol 19 (2) ◽  
pp. 29-38
Author(s):  
Adeola Ajayi
Keyword(s):  
Local Government ◽  
Financial Management ◽  
Town Planning ◽  
Primary Data ◽  
Revenue Generation ◽  
Secondary Sources ◽  
The Poor ◽  
Local Government Level ◽  
Government Level ◽  
Descriptive Statistical Analysis

This study focused on financial mismanagement of Internally Generated Revenue (IGR) in Ife South Local Government. It also identified viable sources of revenue in the local government and examined problems militating against effective collection of revenue. This study was necessitated by the need to ensure increased revenue generation in Ife South local government of Osun State, Nigeria. Primary and secondary sources of data were utilized for the study. The primary data were collected through structured questionnaires. Respondents were selected from career officers in GL. 03-16 in departments and units of finance and supplies, administration, primary healthcare, agriculture, town planning and estate valuation of the local government, thus 180 respondents were sampled representing 29.31% of 614 staff strength of these departments and units of the local government. The questionnaires were administered using descriptive statistical analysis such as frequency and percentage value. The study revealed that there are many viable and non-viable sources of revenue in Ife South local government, the myriad of problems militating against effective collection of the revenue and the poor financial management of internally generated revenue which aptly explains why the local government could not be developed. The study concluded that the share of local government from the statutory allocation be increased, routine auditing and post-auditing from the supervising ministry should be encouraged at the local government level and that the local government should also intensify her effort on increase revenue generation in order to withstand the challenges posed by the current global economic crisis.

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