The Financial Health Check-Up is an exclusive service provided by Jacobson Jarvis that is designed to improve the accounting operations and internal controls of not-for-profit organizations.

The most common areas of focus during a Financial Health Check-Up are accounting transactions, chart of accounts review, effective monthly financial reporting, and internal controls.

While this is a completely custom solution that varies for every organization, the Financial Health Check-Up process typically involves:

1. Initial meeting with Management and/or Board Member(s) of your organization to determine the goals and specific areas of focus for your Financial Health check-Up, timeline, and outcomes.

2. Meeting(s) with the finance/accounting staff of your organization to gain an understanding of your operations and the flow of transactions through the systems. This may include review of internal financial statements, budget, chart of accounts, and most recently completed IRS Form 990. We walk through major processes, including cash receipts, cash disbursements, payroll, and reporting. We discuss common areas of concerns such as restricted contributions, pledges receivable, and cost allocations.

3. We identify possible areas of weaknesses in the internal control structure, areas where efficiencies can be achieved, and accounting (GAAP) issues.

4. We provide a range of possible solutions to these issues and work with management to determine the best solution for the organization. At the request of the client, this advice can be presented in a variety of formats, such as a discussion among managers, a verbal question and answer session with the Board of Directors, or a formal written report.

This service is not an attest function as defined by the American Institute of Certified Public Accountants, but rather a consulting or advisory service. Because there is no predefined outcome or assurance associated with the process, the engagement can be tailored to meet the specific needs of the organization.

Please contact Erin Welch, Consulting Partner, for more information, or to schedule an appointment.