CMFO Roundtable Discussion Recording – June 14, 2022

On Tuesday, June 14, Bud Jones, Managing Partner of Nisivoccia and Jon Rheinhardt, CFO for Bergen County hosted a CMFO Roundtable discussion. Topics for discussion included How Ratings Agencies Review Entities, How to Prepare for a Bond Issue and a Rating Agency Visit, and a Mock Rating Agency Visit. We were pleased to welcome our…

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New ACFE Study: Knowledge Is Power in the Fight Against Fraud

Every two years, the Association of Certified Fraud Examiners (ACFE) publishes a study detailing the costs, schemes, perpetrators and victims of occupational fraud. “Occupational Fraud 2022: A Report to the Nations” was recently released. It covers more than 2,100 cases of white-collar crime, occurring in 133 countries. Consistent with the previous study, the 2022 report estimates…

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SBA Roundtable – Project Planning & Key Financing Considerations of a Referendum, March 21, 2022

On Monday, March 21st, our Government Audit Partners, Kathi Mantell, Valerie Dolan, Heidi Wohlleb, and Man Lee hosted a School Business Administrator (SBA) Roundtable to discuss Project Planning & Key Financing Considerations of Bond Referendums. We welcomed a panel of professionals with various experiences in referendums: Sherry Tracey with Phoenix Advisors, Andrea Kahn with McManimon…

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No Audit Required? Do It Anyway

Your not-for-profit may not be required to undergo regular audits. But an audit can reassure donors and other stakeholders that you take seriously your responsibility. An audit can also help you identify risks before they become intractable problems. Here’s how to initiate and prepare for an audit. Find and meet with an auditor Start by…

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Handle Your Nonprofit’s Restricted Gifts With Care

Most not-for-profits encourage donors to make unrestricted contributions that will give the organization flexibility to use the money where it’s needed most. But there will always be some donors who place restrictions on their gifts — and these require a higher level of responsibility. If your nonprofit fails to use a restricted donation as intended,…

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Budgeting Ideas for Uncertain Times

Budgeting, like many other things, was generally easier before COVID-19. Even though the pandemic isn’t over and much remains uncertain, not-for-profits need to plan their financial needs and project financial resources. But you might be able to make the budgeting process more effective by trying a new approach — for example, a rolling budget —…

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3 Steps to a More Financially Resilient Future

It’s a new year with new opportunities for your not-for-profit to boost its financial resilience. Although COVID-19 continues to make forecasting difficult, your staff and your board’s finance committee can take steps to negotiate obstacles. Here are three. 1. Managing reserves and cash flow Financial reserves have taken a hit across all types of nonprofits,…

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