What We Do

As auditors, consultants and advisors to the public sector, Craig, Fitzsimmons & Meyer, LLP has earned a global reputation as a leader in Audit, Accounting, Tax, and Management Advisory Services for the public sector. Our clientele ranges from small businesses and local governments to religious organizations , Papal entities, educational institutions, social service and welfare organizations.

Our Services

Attestation

Audits

Audits are conducted for the purpose of forming an opinion on basic financial statements taken as a whole.

Audits of Financial Statements
Limited Scope Audits under ERISA
Single Audits under Office of Management and Budget (OMB) Uniform Guidance
Audits of Financial Statements in compliance with Government Auditing Standards

Reviews

Reviews are conducted for the purpose of expressing limited assurance that there are no material modifications that should be made to the financial statements. A review consists principally of inquiries directed toward company personnel and analytical procedures applied to financial data.

Compilations

Compilations are limited to presenting in the form of financial statements information that is the representation of management. This service offers no assurance of the accuracy of data present.

Agreed Upon Procedure and Examination Engagements

One of the most valuable services that CFM can provide is making recommendations to our clients on how they might improve internal controls, enhance administrative performance and offer guidance on how to address specific control deficiencies. Agreed Upon Procedure and Examination engagements can focus efforts on compliance with laws and regulations and provide tailored recommendations related to these services.

ERISA Audits

Audits are conducted to ensure ERISA compliance and financial integrity of employee benefit plans, focusing on thorough examination and opinion formation.

ERISA Compliance Audits
Limited Scope Audits as Permitted by ERISA
Full-Scope ERISA Audits
ERISA Plan Advisory Services

Consulting

Financial Budgeting and Forecasts

We can help management determine an expected financial position, based upon forecasted results of operations, and cash flows for a future period. A forecast is based on assumptions that reflect conditions management expects to exist and the course of action it expects to take.

Fund Raising

By working closely with many publicly supported organizations over the years CFM has developed a comprehensive knowledge of the direct mail industry. Sharing this knowledge with our clients has enabled them to more efficiently and effectively raise money. Our primary goals are to enable our clients to take ownership of their programs and efficiently provide the financial resources needed to fulfill their mission purposes.

Board Governance, Oversight and Board Development

A significant development over the past decade has been the enhanced oversight of governing boards and sub-committees. These groups provide a significant role in oversight of organizations operating in the public sector. CFM has helped our clients enhance governance through board oversight and financial controls.

"SKE" Services

The 2018 Yellow Book set stronger independence standards for independent auditors and local governments. Local governments need to possess the requisite “Skills, Knowledge and Experience” (SKE) to accept responsibility for their financial statements. Many local governments or NPO’s being audited under Uniform Guidance do not possess these credentials internally. CFM can assist by providing these services and helping SLG’s and NPO’s overcome this obstacle.

Investment and Financial Planning

Investment and Financial Planning for the future is essential to the not-for-profit organization and local governments. Our investment and financial plans range from:

Providing retirement and healthcare for aging constituency, including social security participation planning
Building endowment funds for formation and education
Long-term capital planning and needs assessments
Planning for the funding of depreciation and resources required future growth initiatives
Tax and estate planning
Medical and other employee benefit self-insurance plans

Budgeting and monitoring operations are also a vital management skill. In addition to assisting with budgetary planning and implementation of budget systems, we help develop investment advisory committees to monitor performance and communicate with the board of directors or Provincial Council.

Tax and Regulatory Agencies

CFM is knowledgeable of and understands the filing requirements of the Internal Revenue Service regarding Form 990, the IRS’ application for exemption Forms 1023 and 1024, and the filing requirements of state and local agencies. We are familiar with the rules and regulations governing the solicitation of charitable gift annuities and can help you with these filings, including the registration and reporting requirements when a NPO runs a “game of chance”.

Additional Services

CFM also provides a wide range of management advisory services. Our commitment is to help our clients fulfill their missions by taking them from where they are to where they want to be in the future. Take a look at the wide scope of advisory services and specialized studies we offer to see what new things are on the horizon for your organization!

Management Services

Internal Control Studies
Risk Assessments
Outsourced Accounting — “CFO to Go” Services
Staff Training Workshops
Administration Transitions

Organizational Planning

Strategic Planning
Annual Budgeting—Forecasting
Retirement Need Assessments
Community Mergers—Consolidations
Program Performance Assessments

Cash Management & Wealth Preservation

Insulation of Assets
Aiding in creation of Investment Policy Statements
Budget Reporting
Centralized Accounting and Banking Facilities
Design of Appropriate Banking “Caging” Controls

Facilities Planning

Utilization Evaluations
Deferred Maintenance Studies
Market Value Assessments

Professional Services

Attestation Services
Preparation of your NYS Annual Financial Report Update Document (AUD)
Tax Filings for Individuals, Corporations, Trusts and Not-for-Profit Organizations
Treasury Support Services
Financial reporting systems design and integration of systems
Internal Control Evaluations

We Can Help You!

Convert from the Cash to Modified Accrual Basis of Accounting
Prepare for your Annual Independent Audit
Design Your Accounting and Control Systems
Improve Organizational Efficiency
Develop a More Robust Development and Direct-mail Program
Evaluate Your Accounting System Needs; Defining Requirements, Evaluating Solutions, then Assisting in the Design and Implementation of Accounting Software

Document and Develop Accounting Controls, Policies and Procedures
Improve Governance by Providing Guidance on “Best Practices”
Document Accounting Controls, Policies, and Procedures
Prepare for Your Annual Independent Audit
Assist in Preparing Your Form 990
Evaluate Your Internal Control Systems