Final answer:
The topic discusses financial management, emphasizing the importance of regularly monitoring and managing cash flow and overseeing financial transactions to avoid overdraft fees and maintain a healthy financial status for a facility.
Step-by-step explanation:
The system of monitoring the financial status of a facility and the financial results of its activities refers to the practice of financial management. This encompasses various tasks, like balancing your checkbook, which if done regularly, simplifies overseeing your cash flow, managing your money, and avoiding overdraft fees due to insufficient funds.
The goal is to ensure that all financial transactions are properly recorded and analyzed to make informed financial decisions. By maintaining a thorough understanding of incoming and outgoing funds, one can better anticipate future financial needs and prevent fiscal problems.