- Fiscal IntegrityThe effort towards achieving accountability through transparency
Fiscal Consulting & Fractional CFO Services
Fiscal integrity and administrative capacity have long been an existential call-to-arms by funding agencies. The standards and regulations underlying grants management require more than an empirical understanding. The reality is no organization's human capital possesses entirely the capacity or resources required to consistently and adequately affect high quality in its daily operations.
That's where we come in…
Effective Fiscal technical assistance is a resource needed by the new, as well as the tried-and-true fiscal officer. In addition, the advent of new grantees and expansion initiatives has produced unforeseen challenges for award recipients. As one of the select and vetted consultancy providers in the nation, The BSA Group is an overt resource for “getting it right".
Fractional Fiscal Officer Services
Fractional nonprofit CFO services save your organization time and money by providing access to all of the expertise of our full- and part-time chief financial officer provisions...on an as-needed basis. You also gain additional flexibility and scalability through personalized service based on your agency’s evolving needs and goals.
Experienced Advisory Team
The BSA Group's experienced strategic team of advisors and contractors are second to none. The Team is composed of former fiscal subject-matter experts, fiscal compliance officers, and federal monitors who bring extensive and diverse non-profit experience. Our team is prepared to resolve your organization’s toughest challenges and improve your overall financial management systems.
FINANCIAL EXPERTISE ON DEMAND
A fractional CFO brings a wealth of financial expertise to your company. With experience in handling financial operations for multiple companies, they offer a breadth of knowledge that can help streamline your accounting team’s efforts and enhance your financial processes. Their skills are especially beneficial in strategic planning and implementing systems that improve your company’s financials.
STRATEGIC FINANCIAL PLANNING
Financial planning is a critical component of a startup’s success. A fractional CFO uses their expertise to analyze financial data and provide insights that help shape the company’s financial strategy. By establishing robust financial statements and cash flow management protocols, they ensure that you are well equipped to make informed decisions that drive growth.
CUSTOMIZED FRACTIONAL CFO SERVICES
When hiring a fractional CFO, you can tailor their services to meet your specific needs. Whether you require assistance with financial analysis on a project basis or need ongoing support through a fractional CFO services agreement, these professionals adapt to the role that best serves your startup. Their flexible approach allows you to benefit from experienced CFO services without the overhead of a full-time CFO.
ADVANTAGES FOR PART-TIME NEEDS
For many startups, the financial acumen of a chief financial officer is necessary, but the volume of work may not justify a full-time position. A part-time CFO can address this gap, offering their services to ensure that key financial responsibilities, such as cash flow analysis and oversight of financial statements, are expertly managed.
FINANCIAL MANAGEMENT FOR GROWTH
A fractional CFO is not just about managing the day-to-day financials; they are a key player in setting the stage for future success. They work closely with your finance team to identify areas where financial performance can be enhanced, and they play a crucial role in helping the company achieve growth through effective financial management.
THE IMPACT ON FINANCIAL VISIBILITY
A fractional CFO can significantly improve forward-facing financial visibility. By providing detailed financial statements and engaging in thorough financial analysis, they ensure that both internal stakeholders and potential investors have a clear picture of the financial health and trajectory of the startup.
THE VALUE OF FRACTIONAL CFO SERVICES
In the dynamic world of … startups, the value of fractional CFO services cannot be overstated. With the ability to hire a fractional CFO, you gain access to a level of financial management that can be the difference between staying afloat and scaling new heights. They assist in navigating the complexities of financial management, from routine accounting tasks to the strategic allocation of resources.
There is little doubt that there is a continued need to focus on fiscal integrity and accountability in grants management systems. Requirements for processes and policies for cash management, financial reporting, cost principles, accounting, internal and budget controls, and administrative costs can be elusive; and open to interpretation. Though there has been an incremental decrease in fiscal areas of non-compliance during nominal monitoring review events, there has been a marked increase in the number and frequency of deficiencies and disallowances. In the current environment, a proactive approach by management is as important as the outcome.
Regardless of your agency's effective approach to fiscal compliance, requirements should be viewed as an advent of internal policy and a key indicator of sustainability when accurately measured and analyzed. The key to building integrity into your fiscal management environment is to approach them with the following critical elements: 1. Reporting- learn how to assess accuracy in the reporting of the source, allocation, and application of program funds 2. Procurement & Facilities- stay briefed on the up-to-date requirements for your program's policies and procedures for procurement, and ensure facilities management and federal interest is tracked effectively 3. Compensation- learn how to ensure that all salaries are efcomply with Federal regulations 4. Cost Principles-learn how to assess if cost charged to the grant are allowable. 5. Facilities-learn how to assess compliance with requirements for purchase, construction or major renovation of facilities or equipment.