 |
 |
|---|
Fiscal Management & Accounting Services |
Years of experience of providing a range of technical assistance and hands-on consulting services to a diversity of nonprofits led NESC to conclude that a persistent problem for a significant percentage of its clients is efficient and effective fiscal management. This situation is partially attributable to the typical staffing patterns of nonprofits which, with limited fiscal support, concentrate on allocating resources to fulfill their organizational missions, while inadvertently focusing inadequate attention on the “business side” of their operation. This situation is exacerbated by the inability of nonprofits to compete financially against the private sector in the labor market for skilled accounting and financial professional staff. Too often the results are: inconsistent bookkeeping and accounting practices; lack of timely and proper financial reports and management processes to manage their current operations and plan for the future; failure to maximize legitimate third-party reimbursements and government subsidies to which they are entitled; needless disputes with government and private funders; and difficulty in standing the tests of external auditors and, on occasion, the IRS.
Responding to this critical need, an NESC team provides clients with and assists in the execution of a comprehensive package of bookkeeping/accounting services; detailed financial analyses; appropriate financial management software; financial management oversight systems and processes for current fiscal status monitoring, realistic budgeting, and future fiscal projections; and training of financial office personnel, managers and executive directors.
Each client presents a unique set of fiscal management problems, concerns and resources. The financial systems package, therefore, is tailored to the realities of the client organization. The NESC team members begin their effort at the staff bookkeeping/ accounting level, work closely with the executive director or agency president, and then expand their services to include external auditors, including assistance in preparation of IRS filings. Typically, they also regularly make requested presentations to board finance committees and to full board meetings. Understanding that implementation of effective and sophisticated financial systems presents difficult challenges to in-house staff, the NESC team operates on-site on a regularly agreed-upon basis with participating clients’ fiscal operations staff. Further, the team is always available, “7 by 24,” to each client by phone and/or Internet connection. These financial services are offered on a monthly retainer basis, usually over a 12-month period following an initial consulting assignment.
Among recent Fiscal Management & Accounting Services projects:
|
