It is important to have accountability and financial transparency in the non-profit sector. Suitable accounting for the use of funds received from grantors, major donors and small contributors has become exceedingly crucial. While it can be daunting for an organization to change a system as critical as accounting, once the transition is complete it can alleviate many organizational pains.
S&A has established the process of analyzing, recording, summarizing, evaluating and interpreting the financial management activity and status of any nonprofit organization. Our consultants understand how important it is to demonstrate financial transparency to the non-profit boards, grantors and major donors with ease and, ultimately, keep the organization more focused on its mission. We also oversee budget and cost allocation requirements to help organizations maximize funds in the delivery of programs and services that support their mission.
While Sarbanes-Oxley primarily impacts publicly traded companies, it does include requirements for non-profit companies to develop written policies related to the handling of employees and the destruction of documents. S&A is equipped with up-to-date knowledge and expertise to keep non-profit organizations’ financial record-keeping on par with the commercial sector.
We have been instrumental in helping non-profit organizations understand three attributes of funding:
1. The segregation of funds by purpose or restriction
2. The incorporation of budgetary controls into accounts to ensure that expenditure limits
are not exceeded
3. The tracking of outstanding commitments as well as expenditures.
We create an understanding of the difference between “general funds” and “special purpose” funds. The general fund normally provides the resources required to operate the unit or agency on a day-by-day basis. The wages of employees, building maintenance, and general office expenses are items that are chargeable to a general purpose fund. By contrast, special purpose funds are established to yield accountability for separately identifiable activities which make individual control procedures necessary or desirable.
S&A has established the process of analyzing, recording, summarizing, evaluating and interpreting the financial management activity and status of any nonprofit organization. Our consultants understand how important it is to demonstrate financial transparency to the non-profit boards, grantors and major donors with ease and, ultimately, keep the organization more focused on its mission. We also oversee budget and cost allocation requirements to help organizations maximize funds in the delivery of programs and services that support their mission.
While Sarbanes-Oxley primarily impacts publicly traded companies, it does include requirements for non-profit companies to develop written policies related to the handling of employees and the destruction of documents. S&A is equipped with up-to-date knowledge and expertise to keep non-profit organizations’ financial record-keeping on par with the commercial sector.
We have been instrumental in helping non-profit organizations understand three attributes of funding:
1. The segregation of funds by purpose or restriction
2. The incorporation of budgetary controls into accounts to ensure that expenditure limits
are not exceeded
3. The tracking of outstanding commitments as well as expenditures.
We create an understanding of the difference between “general funds” and “special purpose” funds. The general fund normally provides the resources required to operate the unit or agency on a day-by-day basis. The wages of employees, building maintenance, and general office expenses are items that are chargeable to a general purpose fund. By contrast, special purpose funds are established to yield accountability for separately identifiable activities which make individual control procedures necessary or desirable.
Fund Accounting
Our professionals understand your business needs, and specialize in the areas of Accounting, Taxes and Financial Management Consulting.
Financial Management
Consulting
Accounting Services
Tax Planning
Services
Home | Contact Us | Site Map | Terms of Use | Privacy Policy
© 2005 S&A Consulting Group LLP • Cleveland Ohio