Financial Management for Senior Arts Executives
A series of three half day seminars that cover all the financial skills needed to effectively and efficiently manage your organisation
Session 1: Budgeting
Accurate budgeting is essential to the success of any organisation.
As well as being a financial document it is the financial representation of the companies creative and strategic aspirations. To properly understand the budget process, we need to look at the internal dynamics of the company and what options there are to address the creative and financial challenges we face? Most importantly how do you plan for financial sustainability? Then once established, how do you use the budget as a financial management tool throughout the year? This session will provide you with the practical tools necessary to create and manage your essential budgets.
Session 2: Cashflow
Cashflow is often the neglected companion of budgeting.
It is not really important until it is important and then it is incredibly important. To properly understand and prepare accurate Cashflow documents you need to have a solid understanding of the organisation and its Cashflow patterns. You also need to understand how various accrual accounting adjustments impact on available cash. How is it that the budget is in surplus but the company is running out of cash? And when a Cashflow crunch hits what are the strategies you need to use to work through it and come out the other side still able to operate. This session will equip you with tools and templates that can be used to create your essential Cashflow forecasts.
Session 3:
Balance Sheet
The balance sheet is the record of every transaction the organisation has made over its entire history.
Not only does it show us were are at this point in time it can show us how we got here. Understanding the individual components that make up the Balance Sheet gives insight into the financial strength and weaknesses of the company. It is also important to understand how to re-configure the Balance Sheet so as to show Working Capital and other measures of the company’s financial strengths and weaknesses. The Balance Sheet is also the focus of the Audit so we will be looking at that process in some detail. This session will equip you with the knowledge to properly understand the relationship between the Balance sheet and the Statement of Income and Expenditure and the ability to read any companies Balance Sheet.
Teaching Methodology
The course is limited to twelve participants. All sessions are conducted around the boardroom table and participants are encouraged to engage in a conversation around each topic. Case study examples are used to demonstrate how the teachings apply in a real world context.
Session Times: All seminars run for half a day either a Morning - 9.00am to 12.30pm or Afternoon - 1.00pm to 4.30pm. There is one seminar a week for three weeks.
Venue: Boardroom – Malthouse Theatre 113 Sturt Street SOUTHBANK 3006 Vic
Cost: $990.00 (Inc. GST)
The next series of seminars are being sponsored by Auspicious Arts Projects Inc
Budgeting: Tuesday 16 July 2024
Cashflow: Tuesday 23 July 2024
Balance Sheet: Tuesday 30 July 2024
To Book: Auspicious Arts Projects Inc
Further information: info@paxinos.com.au or Text: 0419 327 915
Testimonials
This is a practical and approachable workshop series perfectly contextualized in arts management. If for no other reason go for the anecdotes, of which there are many, spanning John's rich and storied career in the arts. You wouldn't say this about many financial seminars, but it's a complete joy.
Pippa O’Brien - Auspicious Arts Projects Inc
I attended John Paxinos's Financial Management for Senior Arts Executives seminars a couple of years ago when I first became responsible for the finances of the small theatre company I work for, and it was invaluable. It helped consolidate the things I already knew and filled in a huge number of gaps. John is clearly experienced and passionate about what he does, and created an environment that was supportive, relaxed and friendly. The information was presented in a clear, logical and accessible way, and I felt comfortable asking questions and revealing where my gaps in knowledge were. Most impressive was how the content was specifically tailored to arts organisations and the particular needs of such organisations where balancing creativity and administration in the right way is crucial.
Thomas Caldwell - St Martins Youth Arts Centre
John’s vast knowledge and understanding of the Arts industry makes this course an extremely useful tool for anyone involved in an Arts organisation.
The information provided in this course is based on relatable and practical examples. It is concise, clear and applicable to many different areas and processes of an artistic group.
The course is structured to take you step by step to the financial foundations of any Arts organisation bringing an invaluable understanding of its structure, but most importantly, its capacity to be sustainable.
Alonso Pineda - Circus Oz