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UPMIFA: Endowments & Compliance
NYPMIFA replaces and updates key provisions of UMIFA governing the spending of endowment funds.
Fund Balance Policy
In February 2009, the Governmental Accounting Standards Board (GASB) issued Statement Number 54, Fund Balance Reporting and Governmental Fund Type Definitions, to clarify certain terms used in fund type definitions to establish consistency and improve upon the disclosure of fund balances in the financial statements. Learn More...
Scrutiny of NPOs in the Media
According to a recently published report in Newsday on August 4, 2011, reports of high salaries and other compensation at non-profit agencies is prompting investigations by a special task force assembled by New York Governor Andrew M. Cuomo.
Government Auditing Standards
For 2011, the United States Government Accountability Office (GAO) clarified several of its positions on Quality Control and Assurance Reviews, commonly referred to as Peer Reviews, for organizations conducting external audits on government entities.
Craig, Fitzsimmons & Michaels, LLP is a full service Certified Public Accounting firm that has a deep-rooted commitment to serving not-for-profit, religious and local government organizations. We have over twenty- five (25) years experience in providing auditing services to not-for-profit, religious and local government organizations. This is our business, our profession, our passion. CF&M serves as a valuable resource and trusted advisor to all of our clients as our staff is intimately familiar with the unique financial operations, tax and regulatory compliance issues facing today’s not-for-profit, religious and local government entities. For more about CF&M, please review our “About Us” page.
Please contact us at any time if you would like to discuss anything you have found on our website in further detail.
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