True or False: Program managers have little need for financial statements.

The assertion that program managers have little need for financial statements is false. In fact, program managers often require access to financial statements to effectively oversee their programs. Financial statements provide critical information regarding the financial health of the program, including budgetary allocations, expenditures, and overall fiscal management. This information is vital for making informed decisions, assessing performance against budgetary constraints, ensuring compliance with funding requirements, and facilitating the successful achievement of program goals.

Program managers need to monitor financial indicators to manage resources efficiently, anticipate budget shortfalls, and justify additional funding when necessary. By understanding the financial aspects of their programs, managers can also communicate effectively with stakeholders about financial performance and resource needs. Thus, comprehensive knowledge of financial statements is essential for program managers to fulfill their responsibilities successfully.