Financial Management
In close coordination with the client’s leadership, we manage association finances, oversee bookkeeping services, deposits, bill payments, investments, other financial services as requested, and provide financial reports on a quarterly basis or as requested.
We take a comprehensive and detailed approach to budgeting, taking all factors into account to ensure the development of the most accurate budgets possible for both the overall budget as well as specific meetings and programs. Leadership is made aware of anticipated costs upfront, and every effort is made to stay within or below budget. We provide a complete breakdown of costs in all final reports.
Services we provide:
- Monthly financial statements
- Accounts payable and receivable
- Creating and monitoring yearly budgets
- Program/event financial activities and accounting
- Cash investments monitoring
- Credit card management and review of and process of travel reimbursements
- Refunds and receipts
- Facilitating external financials audits & tax returns
In the best interest of the client, CAM assists in securing and maintaining appropriate levels of insurance to safeguard its financials, operations, and Board of Directors.
The following insurance policies are recommended to be in place:
- General Liability
- Directors & Officers Insurance
- Professional Liability
- Cyber Policy
Security and Trust with CAM: Independent Financial Services
CAM strongly believes in segregation of financial duties to ensure oversight and accountability and prevent fraudulent activity. To best serve this process, CAM has an accountant on staff who is responsible for accounts receivable and accounts payable, as well as an outsourced independent CPA firm responsible for monthly bank account reconciliation and preparation of financial statements.
