Financial Management

Introduction

One of the primary responsibilities CSM recognizes in association management is that of cash management and sound investment practices.

According to recommendations by the IRS, the computerized general ledger and annual tax return for CSM clients are prepared by an outside CPA firm. CSM will use the budget as adopted by the Board of Directors as their guide in generating income and controlling expenditures to ensure that budget guidelines are being met.

Crow-Segal employs a full-time staff member whose expertise and experience is in sponsorship and advertising sales. Her work increases sponsorship income dramatically for our clients who offer such opportunities to their commercial service suppliers.

Services

Crow-Segal Management is prepared to conduct all Client financial management, specifically:

• Maintain all financial records autonomously and in the Client's name;
• Develop and maintain a financial system that identifies cost centers;
• Solicit outside support of Client activities when permitted by the Board of Directors;
• Invest funds as appropriate to maximize interest while maintaining necessary liquidity;
• Assist the Client Treasurer in developing budgets for the Board's approval;
• Review, verify, and pay all bills according to the Treasurer's direction (all invoices from outside vendors are supplied to the Client Treasurer);
• Provide monthly financial statements detailing actual vs. budget for all line items, including general ledger, transaction reports, cash flow analysis, and projections;
• Maintain appropriate records for annual audit and preparation of tax return by the outside CPA firm.