Newsletters
#AllCashDiet
April 14, 2015A new year presents the opportunity to chase goals or restart the pursuit of old goals that weren’t met. The University of Scranton reported that 34% of Americans made a New Year’s resolution in 2015 that dealt with improving their financial well-being. I am not fond of resolutions; they tend to come and go. Instead,…
Read More
April is Financial Literacy Month
April 14, 2015Everyone knows that sex, religion and politics are out of bounds for discussion in polite company, right? Now is a good time to recognize another taboo topic that should be talked about – money. In 2003, the National Endowment for Financial Education introduced Youth Financial Literacy Day, and, in 2004, the U.S. Senate passed Resolution…
Read More
Highlights of the FFIEC BSA/AML Manual Update
April 2, 2015The Federal Financial Institutions Examination Council (FFIEC) recently made significant changes throughout more than a dozen sections of the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) Manual, the first update in four years. All banks and third parties with relationships with issuing banks should take note of the update, which emphasizes the importance for such…
Read More
Why and How a Nonprofit Should Establish an Operating Reserve
March 26, 2015Congratulations! The nonprofit organization you manage, or represent as a member of the Board of Governance, has made the strategic decision to establish an operating reserve. Making this decision is the easy part, now the hard work begins. Decisions need to be made about the appropriate amount of reserve to be established and the best…
Read More
The Affordable Care Act and Employers
March 26, 2015The Affordable Care Act (ACA) contains several tax provisions that affect employers. Under the ACA, an employer’s workforce size is significant because this information determines which provisions apply.An employer’s size is determined by the number of its employees. An employer with 50 or more full-time employees or full-time equivalents is considered an “applicable large employer,”…
Read More
Performance Auditing – A Step Towards Improving Your Business
February 24, 2015Although most everyone is familiar with the term audit, a lesser-recognized type of service provided through examination of records is known as a performance audit. These can be described as audits that provide findings or results based on an evaluation or sufficient evidence against stated criteria. While performance auditing is historically thought of in relation…
Read More
Learn How Impending New Regulatory Reforms Will Affect Your Entity
February 24, 2015On December 26, 2013, the Office of Management and Budget (OMB) issued its final grant reform rules to the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, effective for fiscal years beginning after December 26, 2014. The reform streamlines the language from eight existing OMB Circulars into one consolidated set of guidance…
Read More
Budget Less, Forecast In Real Time A Winning Strategy For Some
February 18, 2015Budgeting seems to be going out of vogue in some company circles as financial markets, and the economy at large, is becoming increasingly volatile and more difficult to predict. In the place of budgets, companies have started to introduce rolling forecasts, flexible budgets and event-driven planning. These forecasting tools afford companies the opportunity to continue…
Read More
Ensure the Viability of Your Nonprofit Through Better Donor Retention
February 18, 2015Given the current economic conditions, including an overall decrease in government funding, donor acquisition and retention strategies are more essential than ever for managing a nonprofit organization. Over the last 10 years, donor retention has dropped significantly, which poses the question, “What are you doing to ensure the long-term viability of your organization?” One of…
Read More
Tips for a Stress-Free New Year
January 22, 2015Are you ready for tax time? There are a couple of steps you can take now, as information begins to arrive in the mail, to alleviate some of the stress of filing your tax return. Begin by putting together a folder with W-2s from your employer, 1099s for other income you may have earned, bank…
Read More