Sabrina Walker Hernandez, MPA’s Post

🐳Transparency and integrity are one of the pillars of our organization. We publish our financial and narrative reports every year and have finally grown to the point where we can have an independent financial audit of the organization! 🗂️ Why only now? Actually, we have been wanting to do it for a long time, but financial audit is a rather expensive process, and the field itself has few experts who would like to take on such a large amount of work in a fairly short time. But thanks to a grant for the development of organizational capacity from ISAR Ednannia, we did it! We admit that the path was a bit long and resource-consuming. But now we have an official document that certifies that our accounting is done properly and transparently 🙂. 🧑💼 And this is not only another evidence that we are faithful to our principles, but also an opportunity to apply for grant programs from powerful international foundations! We are already looking forward to cool projects! ___ ℹ️ The financial audit for the NGO "Horizon of Changes" was conducted with the support of ISAR Ednannia within the framework of the USAID-funded Civil Society Sectoral Support Initiative project.

Grant billing mistake I see a lot? Dividing the total grant amount by 12 and billing that each month for the grant. But if its a reimbursable grant, you must go on actual costs not just 1/12 amount. Foundations may allow you to do that, but most grantors want actual costs (not just a flat rate). At MBS Accountancy, we offer grant budget development and management that ensures you have accurate estimates that account for the ebb and flow of your actual grant expenses. This kind of grant billing and budget development demonstrates greater financial transparency to donors and, as a result, builds more credibility for your organization.

Is your council on top of its grant funding records? We know from talking to councils (before they use SurePact) that they rely on poorly maintained Excel spreadsheets and emails to figure out what they've applied for and received, and to monitor projects on the go. Here's what an NSW Finance Manager told us: “We were rejected for critical funding. When we looked into why, we found out three different teams had all applied for the same grant citing three different objectives for the funding." Wow 🤯 This is the year to focus on compliance and accountability. And it starts with having a grant management process.

The holy grail of financial reporting is harmonised grant reporting. Its here, in International Non Profit Reporting Guidance, Practice Guide 1. Crowe UK has deep experience in auditing Non Profit Organisations so its great to hear from Naziar Hashemi about the advantages. Check out the proposals here: https://lnkd.in/dYy9UBJT See which donors have so far committed to provide their feedback here: https://lnkd.in/dDBmU7r5 #INPAGED3

As someone who regularly reviews financial documents in the NGO space, I witness firsthand the critical role of strong documentation and record-keeping. The activity is not just a box-ticking exercise but also ensures..... 📍Financial Controls - Clear documentation acts as the foundation for good financial control. It ensures transactions are authorized, recorded, and tracked – keeping your finances squeaky clean. 📍 Transparency - Detailed records promote transparency, allowing stakeholders (donors, beneficiaries, regulators) to see exactly how funds are used. This builds trust and confidence in your organization. 📍 Audit Ready - Comprehensive documentation makes the audit process a breeze. Auditors rely on these records to verify the accuracy of financial statements and internal controls. 📍 Accountability - Donors, beneficiaries, and the public deserve to know their contributions are making a difference. Strong documentation helps demonstrate how funds are allocated and spent in line with your mission. 📍 Data-Driven Decisions - Informed decision-making is key! Access to accurate financial records allows you to analyze your organization's financial health, identify areas for improvement, and strategically allocate resources. 📍Staying Legal - Following regulations is crucial. Proper documentation ensures compliance with financial laws, minimizing the risk of penalties and legal issues. #NGO #FinancialManagement #Transparency #Accountability

highly recommended session!

#RFP Alert: The CITY OF GALVESTON is soliciting proposals from qualified and experienced public accounting firms whose principals are independent certified public accountants to perform the City’s annual audit of its financial statements for the three fiscal years ending September 30, 2023, thru 2025. Learn more: https://lnkd.in/dvhDAddj Joe Jack, Jon Osterburg - Would you or someone you know be interested in this RFP? #audit #financialaudit #nonprofitconsultant #nonprofitaccounting #nonprofitconsulting

Some people are not going to like this. There is no such thing as easy grant money. Grants come with caveats 👇 → Strict eligibility criteria – grants have specific requirements that must be met → Restricted use of funds – grants must be used for specific purposes laid out in the grant funding agreement → Detailed reporting - recipients are required to provide detailed reports on how the grant money is spent → Defrayal – grant money can usually only be claimed back once it has been spent with sufficient evidence So remember……. When applying for grants, plan how to manage compliance and reporting. What else would you like to know? Drop it in the comments. 

Nonprofit finance professionals, have you heard of a SEFA? This article breaks down what it is and why it's important for your organization's financial reporting. #NonprofitFinance #SEFA #FinancialReporting #CLAInsights

Has your nonprofit’s finance department ever undergone an independent assessment of its operations? Schedule a complimentary consultation https://bit.ly/3UoIMzn to discuss how I can provide your organization with an impartial evaluation of its finance department. The guidance and tools I provide are based on my 15 years working in senior financial management positions at major nonprofit organizations where I successfully implemented processes and systems to strengthen the infrastructure of their finance departments.