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15 Examples of Fiscal Management

 , January 20, 2019
Fiscal management is the process of planning, directing and controlling financial resources. The term is associated with management responsibilities for expenditures working together with an accounting team that is under the Chief Financial Officer of an organization. As such, fiscal management doesn't necessarily require in-depth accounting knowledge where you can rely on the services of an accounting team. The following are illustrative examples of fiscal management.

Estimates & Forecasts

Developing reasonable estimates and forecasts for future expenses based on due diligence such as reference class forecasting.

Business Cases

Creating formal proposals for spending including a return on investment or cost/benefit analysis.

Budget Planning

Developing capex and opex budgets.

Budget Approvals

Communicating proposed budgets and business cases to seek formal approval of spending.

Financial Controls

Implementing financial controls such as segregation of duties for submitting, approving, dispersing, reconciling and auditing expenditures.


Implementing controls such that expenditures can't occur without authorization.


Ensuring that people are accountable for their expenditures and adherence to financial controls.

Policy, Process & Procedure

Developing formal policy, process and procedure for financial controls. This may consideration productivity using techniques such as automation that streamline such processes.


Adhering to an organization's procurement policies to select and manage suppliers and partners based on formal and transparent processes that prevent fraud.


Compliance to laws, regulations, standards and internal policy.

Audit Trail

Retaining all information related to financial activities and transactions to support future audits.


Supporting financial audits.

Monitoring & Escalation

Monitoring finances to immediately escalating issues, risks and irregularities. For example, escalating to executive management when you realize a project will go overbudget.

Budget Admin

The process of continually updating a budget to reflect current realities.

Financial Reporting

Communicating your financial estimates, plans, expenditures and position to stakeholders to create transparency.
Overview: Fiscal Management
The process of planning, directing and controlling financial resources.
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