Services For Non-Profit
KPC Accounting has also provided many services to the non for profit sector. Given the nature and the importance of being in the non for profit sector fulfilling your mission, vision and values, KPC will work with your organization to ensure you are maximizing your resources to ensure that your funds are going where they are needed most; to your individuals you are supporting and to the services you are providing to your community(ies) as a whole.
Our role is to come in as a consultant but acting as an internal controller that will review your ongoing practices and provide suggestions that we believe will improve the existing structure and reporting processes. Our focus is to improve systems and the flow of information generated from those systems in order to provide management quicker and more timely information that is more accurate and is more defined to the end user (Senior Management or Ownership). Our role is to ensure that the company is sticking to its budget but where it varies significantly, identify where and why the costs are varying from budget. Our goal is to help management identify these areas and to help them implement controls to ensure that future deviations are explained as they occur and to implement reporting tools to help the organization become more proactive than reactive in nature. This is so that costs are controlled and to ensure that the organization stays within its budget and more importantly within its defined cash flows that it relies on each fiscal year. Our goal is to ensure organizations do not create unnecessary deficits that affect future year’s operational plans and resources.
Services that we provide range from basic data entry functions to strategic planning and reporting roles with senior management of an organization, inclusive of interactions with your Board of Directors if deemed needed. Below are a list of services we currently provide and are as follows:
Finance and Controllership Services
• Internal Controller role – functions/duties of a full time internal controller performed on a part time basis for your organization based on your business requirements while being an economically feasible option.
• Budgeting – development of budgetary templates to full implementation and presentation phases of your budgets with senior staffing and management. We can develop your budgets to meet your staff’s current levels of MS Excel levels of experience. We can develop the budgets for data input by your staff or we can develop the budgets from scratch and update them ongoing as part of the internal controller function above.
• Financial reporting – internal monthly financial statement reporting and development thereof based on your needs as an owner and based on the needs of the company. We will look to report on your financial results using comparisons to budget and previous results based on discussions with senior management and desired outcomes.
• Development of internal reports in MS Excel that can be tied into reporting items that the organization files with its primary funding body. Our goal is to have as much reporting created and linked so that efficiencies of time are created so that time savings and other resources can be used elsewhere within the organization.
• Financial forecasting – management’s input & hypothesis presented for internal management use. Here we can help develop financial cash flows and projections to determine courses of action related to spending, cost savings and other financial decisions that are required to ensure the organization is meeting its goals operationally and to the satisfaction of its ownership.
• Business Plan development – financial forecasts 3-5 year summaries plus monthly breakdowns plus additional areas if required. We are able to create business plans from start to finish based on input of key personnel. We are able to do the whole plan if desired or strictly focus on the financial reporting/plans that are vital to any business plan based on in depth discussions with key personnel.
• Financial restructuring – work with local financial organizations to help refinance/restructure existing debt arrangements if feasible. We can help arrange debt facilities to fund new initiatives, new projects of a capital nature or other initiatives as approved by the Board of Directors.
• Monthly accounting – Revenue, Receipts & Receivable cycle; Purchases, Payables & Payment cycle; Inventory; etc.
• Policy development – related to internal controls/board governance/financial controls and some basic HR policy. We will work with your company to set up policies and protocols to help guide your operations based on industry norms or based on desired outcomes establish internally by key personnel.
• Analytical review of current and past operations – assess cost efficiencies and make recommendations if and where possible – provide alternatives to existing expenditures in an effort to help reduce costs and maximize profitability – key areas targeted – insurance, group benefits, pensions, labour analysis, etc.
• Project management.
• Internal audits/reviews for managerial purposes to review areas of concern or potential risk.
• Within the Developmental Services Sector we currently provide services that review client financial records to meet industry requirements. We do provide services here that will review the records of individual’s in care to ensure that spending of individual’s funds are within normal policy standards as set by the organization. This review is not to detect theft or fraud. If your organization thinks this is occurring we may assist you in investigating these areas and giving you a report outlining areas of risk and concerns for future follow up on, etc. Please enquire and we can discuss this in depth at a later date and time.
• We also offer other services related to acting as back up for your existing staff and also in helping plan or being part of your succession planning for your finance department. Again, please contact us to discuss this in further details.
• Any other areas related to financial reporting and structure. Please enquire and we would be more than happy to meet and provide a synopsis of what we are able to do for you.
Overall KPC has over 30 plus years of accounting experience in various roles acting as Controllers, Directors or other Senior Management positions; including previous business owner/operators.
Our experience in the Non Profit Sector ranged as Director of Finance Community Living/Acting Finance Manager (mat leave coverage) – experience with Ministry of Community and Social Services and Ministry of Childrens and Youth Services – areas of concentration – budgeting, cost containment strategies, internal audit of individual banking records, financial reporting to Board of Directors and E.D. plus department heads, Board Governance, etc. Again, many other functions are available so please enquire and we can discuss your needs accordingly.