Functional Expense Reporting: Why It’s Necessary & How to Do It Accurately

About this event

Jennifer Dale, CPA, Audit Manager
McDonald Jacobs, PC

Jessica Clark, CPA, Finance Director
New Avenues for Youth

Presentation & Continental Breakfast at 7:30
Networking at 9:00

Accurate cost reporting continues to be a challenge for many organizations, causing a range of problems for nonprofit managers, watchdogs, donors, governments, foundations, and auditors. Spending and allocations depend on grant and contract restrictions, strategic goals and your life cycle as an organization, and community perception. The media, donors, and lawmakers are also pressuring nonprofits to limit any non-program costs.

This session will help chief financial officers, Board officers, independent auditors, and others understand the importance of accurate cost reporting and what tools are available to achieve that end.

You’ll discover:

• What best practices are used to allocate overhead costs to programs and what costs are legitimately program, administration, or fundraising
• What documents you need to help track and allocate costs
• Who is supposed to help code these costs in your organization
• When costs should be allocated (throughout the year or at the end)

About the Presenters

Jennifer Dale is a hands-on Audit Manager at McDonald Jacobs, who works closely with and is passionate about the organizations, people, and business of the nonprofits she serves. She has extensive experience in auditing and preparing financial statements within the nonprofit sector, and serves as Board Treasurer of the Broadway Rose Theatre Company and Finance Committee member of Camp Fire Columbia. Jennifer is a licensed CPA in the state of Oregon and a member of the American Institute of Certified Public Accountants.

Jessica Clark “knows the rules” but understands the nuances of nonprofits. She is the Finance Director for New Avenues for Youth and a part-time instructor for CPA exam review courses. Previously, she managed the nonprofit assurance section at AKT, LLC and was an audit manager at KPMG, LLP, where she oversaw a broad spectrum of private and public clients. Jessica has extensive experience in auditing and preparing financial statements within the nonprofit sector, and serves on several nonprofit boards. She is a licensed CPA in the state of Oregon and a member of the American Institute of Certified Public Accountants.

About the Network

Nonprofit Fiscal Managers Association provides regular learning opportunities so you can stay up to date on nonprofit financial management practices and related legal and compliance issues. You will gain the knowledge, strategies, and systems you need to keep your organization on track.