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SERVICES
General ledger organization and financial statement format:
The way you organize the accounts, departments, fund codes and/or jobs and clients in your general ledger depends on your need for financial information.
· Every exempt organization in the United States which receives over $25,000 per year in revenue has to file a Form 990 within in four and half months of the end of its fiscal year. Recipients of government awards have to report on expenditures and document the allowability of government funds spent.
· Recipients of grants from United Way and other large funders have to report on how grants were spent. Most funding proposals require a budget for future needs as well as a summary of monies received and spent.
· Board members need to know where your money comes from, where it goes, how much is promised to others, and how much is still available to pursue your mission.
· Program managers need to know what resources are available to them, and
· The executive director needs to know all of this.
Crosby & Kaneda will review your financial record keeping needs with you, and help you structure your general ledger to meet as many of those needs as possible.
Cost allocations
Some funders will pay for liability insurance, some won’t – but some programs will incur expenses for insurance, reimbursed or not! Have you ever asked yourself, “How do we divide up our expenses among our programs and cost centers without violating the terms of our grants and contracts, and still manage our agency” – or words to that effect?
Determining how to divide shared costs among your various programs, projects, departments and functions can be daunting. It’s actually not rocket science – rocket science is more straightforward! But seriously, folks, we can help you with cost allocations. Just contact us to set up an initial one-hour meeting, at no charge, so we can determine how best to assist you.
Budgeting
“Preparing the budget” – a phrase that torments the most stalwart executive directors. At Crosby & Kaneda we have a complete system for developing a budget – including a calendar and checklists for involving your management staff, procedures for estimating costs, and information on how to use your budget and budget:actual reporting to tighten internal controls and evaluate staff. You’ll think that your budget can do everything except iron your outfit! Contact us for more information.
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