Stay up-to-date with Central Source. Receive professional updates, resources, tips, and more.
How successful are your annual audits? Are your systems designed to avoid instances of fraud? When was the last time you reviewed your Policies and Procedures? Do you have the information you need when you need it? Are you worried about your cash balances? Have you forecasted your annual budget out three to five years? Do you have a capital budget?
Fiscal Policies and Procedures
Provides standards and directives for all finance related functions and promotes consistent, prudent financial and administrative practices. Designed to avoid instances of fraud by providing proper segregation of duties and good internal controls. Incorporate guidance in the application of various Federal and State laws and regulations and for the administration of grants and contracts awarded by the U.S. Government and other funding sources.
Strategic Budgeting and Forecasting
Driven by reliable revenue and expense projections, fiscal accountability, and mission priorities. Engaging all stakeholders and demonstrating the organizations commitment to fulfilling its mission. Including multi-year operational and capital budgets.
Timely, accurate, and informative; allowing management to make appropriate responses to changes due to variances in revenue and expenses. Informative reports that meet external reporting requirements and allow for proper grants management. Reports that ensure accounting accuracy, adherence to fiscal policies and procedures, and audits free of deficiencies and material weaknesses.
An understanding of government regulations and requirements. Good accounting controls, record retention policy, and procurement system. Auditing policies and procedures that meet standards in A-133.
Accounting System Design & Implementation
Aligns your Financial Reports and Budgets with your Accounting Structure. Providing consistency with the financial reporting format, budget line items and the chart of accounts for efficient and effective communications with both internal and external stakeholders. Including skilled personnel with adequate training in nonprofit finance and accounting software.