We’ll have guests in the office next Monday when our annual audit begins. Actually, it began months ago, but as of the last few minutes our financial staff is finally finished preparing the first round of reports, lists, schedules for our visitors. I frankly look forward to having a fresh set of eyes on our work.
Annual audits are required by National Standards for US Community Foundations for all but the smallest of foundations. Audits are included in virtually every set of nonprofit standards and best practices I’ve seen. As a public charity, I believe we have a responsibility to validate the trust we as of our donors, grantees and community. Transparency is critical, and like any good nonprofit, we do our best to display our practices and decisions for our stakeholders. But there is nothing quite like a clean audit as a demonstration of good accounting and illuminate financial sustainability.
Yea I am kind of looking forward to our annual checkup. Of course it makes it a lot easier being part of a well oiled machine like the Community Foundation and having such a strong and capable staff.
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