Financial Health Check-Up

Financial Health Check-Up

Financial Health Check-Up is a service by Jacobson Jarvis which is specifically designed to improve the accounting operations and internal controls of not-for-profit organizations.

This service is not an attest function as defined by the American Institute of Certified Public Accountants, but rather a three-step 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. The three steps are:

1. Initially, we meet with the finance/accounting staff of the organization to gain an understanding of the flow of transactions through the systems. This includes cash receipts, cash disbursement, payroll, and reporting. We discuss common areas of concerns such as restricted contribution, pledge receivables, and joint costs.
2. Next, we identify possible areas of weaknesses in the internal control structure, areas where efficiencies can be achieved, and accounting (GAAP) issues.

3. 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 formal written report, a discussion among managers, or a verbal question and answer session with the Board of Directors.

For more information, or to arrange for a Financial Health Check-Up for your organization, contact Erin Welch, CPA, at erin@jjco.com. They can be reached by telephone at 206-628-8990.