Nonprofit

Fiscal Policies and Procedures Update Service

Make updating fiscal policies and procedures simple and worry free.

Teams customize the review process based on client need, working either in person at client locations or remotely through phone calls and emails.  

METHOD 1:  Phone Conference and Emails 
(Note: This is the suggested method when your organization's fiscal policies and procedures are up to date.)

  1. Review your organization’s current fiscal policies and procedures manual using Wipfli’s Model Accounting and Financial Policies and Procedures as a template and guide.
  2. Conduct two to three phone conferences with you to discuss whether your organization needs each policy and procedure and, if so, how it is (or should be) carried out. 
  3. Discuss required and optional changes in the Uniform Guidance 2 CFR Part 200. Required changes will be incorporated into your manual. A list of optional changes will be provided to management for their consideration.
  4. Discuss recommendations for streamlining processes or strengthening internal controls.
  5. Draft an initial update of your organization’s fiscal policies and procedures manual that incorporates results of our conversations and review.
  6. Provide a final updated manual for your implementation within two weeks of receiving your final comments.  

METHOD 2:  On-site Visit
(Note: Suggested method when fiscal policies and procedures haven’t been updated for a few years. Our approach is detailed below.)

  • Review your organization’s current fiscal policies and procedures manual using Wipfli’s Model Accounting and Financial Policies and Procedures as a template and guide.
  • Visit your organization for three to four days to go through each item in the manual with you to discuss whether you need the policy and how your current procedures work and are documented. We will also discuss internal controls and compliance with grant regulations.
  • Discuss current procedures and options with other fiscal staff, the executive director, and program and other managers to learn their roles and procedures in the accounting process to determine what will work best for the organization.
  • Agree on and document best practices for your organization.
  • Before we leave, deliver a draft of the new policies and procedures manual in Word format and a list of open items to be resolved.

Email gfpbd@wipfli.com to get more information.

Featured Expertise

George Persekian

George has over 10 years of experience in the industry as both an auditor and a consultant. He is always eager to help clients identify areas they can streamline for improvement to maximize their success. George is solution oriented and listens to clients to understand their whole organization, not just the financial side.

Policies & Procedures

2018 Wipfli National Training Conference