Two Strategies to Ensure That Community FM Radio Stations’ Finances are Well Managed

One of the areas where community FM radio stations tend to face challenges is that of financial management. There are two strategies you can use to ensue that community FM radio stations’ finances are well managed.

The first strategy you can use to ensure that community FM radio stations’ finances are well managed is that of employing professional accountants to manage the said finances. This should result in the keeping of proper financial records, through which all money that comes into the stations’ coffers is well accounted for.

The second strategy that you can use to ensure that community FM radio stations’ finances are well managed is that of ensuring that their accounts have multiple signatories. This reduces the chances of financial embezzlement taking place. Granted, this may slow things down a bit (in terms of, say, how fast the stations can make payments). But that shouldn’t be too much of a worry in this digital era. A station can, for instance, have a system where, upon the need for a payment to be made arising, the treasurer goes to the Gmail login page and goes ahead to log into Google email and then sends an email to the other account signatories, asking them to go to the stations’ offices to sign checks. In that way, account signatory meetings can be arranged in a matter of hours — if not minutes.

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