For Business Owners

The goal for your business is making sure that accounting is accurate and timely, and that capital is effectively deployed. This can be achieved with:

Monthly Financial Reports

  • Review of real-time results allows for adjustments, when they can be effective, and not when it’s too late to impact a difference

Cash Flow Forecasting

  • Looking out 6 to 12 months to avoid surprises. If additional funds will be needed, forecasting allows time to work with the bank to increase lending availability

Annual Budgeting

  • Plan for the resources that will be needed – especially if additional cash will be needed to support growth

  • Budgeting often is the first level of strategic planning. The budgeting process requires asking, and answering, a number of questions about what the business does and why

Accounting vs. Finance

  • Accounting is recording the transactions of the organization – timeliness and accuracy are important. Accounting is focused on history.

  • Finance is the raising, deployment, and distribution of capital. Since cash is expensive (whether equity or debt), the goal is to get the most from the least amount of cash – consistent with the business’s goals.

  • While the focus of accounting and finance is different – they must work together – EntrepidCFO provides both.

For Municipalities

The goal for the municipalities is accurate financial reporting, on-time regulatory compliance (audits and grants) – at a lower cost and with long-term stability.

Regulatory Compliance

  • This is the top priority for any municipality

  • Annual audits completed – on time with passing grades

  • Accurate and timely grant accounting and reporting

  • Other state & federal reporting when required

Accurate Accounting

  • The foundation is making sure the accounting is accurate and timely

  • Regular financial reporting to Executive (City Manager/Mayor) and City Council

  • Monitor spending to budget and identifying risk areas – in advance

Annual Budgeting Process

  • Engagement with all stakeholders

  • An early start gives time to spot difficulties and plan for solutions

Advantages for Municipality

  • Recruitment, retention and managing turnover are removed from the city, long-term stability

  • Lower costs