Resource Sharing. Part 4

Finance and administration is tasked with setting and monitoring a project, program or operations budget.  The procurement officer or contractor requests bids for special projects such as building renovations, equipment acquisitions, service contracts, and building repairs. This finance and administration group also tracks hours, compensation and benefits.

A smaller nonprofit may depend on revenue from a large fundraiser such as an auction, but lack sufficient resources to manage the financial aspects.  A resource sharing agreement might be activated to access extra help handling financial transactions and final accounting to reconcile accounts.  

In the case of small business the team communicates with logistics and planning regarding how much money is allocated, and how much is remaining in the budget. They may need to ask a section to cut expenses to prevent cost overruns. If a business needs but cannot financially sustain a salary for a full time procurement officer, a solution might be for three small businesses to fund one part or full time salary. Conversely, one organization may have the funds to support a full time procurement officer, but may benefit from the added compensation a resource sharing agreement might provide if there are seasonal or cyclical downtimes.