When you begin the process of refinancing your property, many banks will clamor for your mortgage – and claim to give you the best deal. Keep in mind that there are many options out there, and each bank will meet your business’s needs differently.
Having consistent internal controls set in place is a fundamental practice in stewarding church funds for the mission. Internal controls also provide protection to the employees. Although employees might push back against unsupported accusations of fraud that could arise, small consistent policies and procedures can help protect employees and the church.
As a result of having a HUD-insured mortgage loan, there are rules and regulations that need to be followed to remain in compliance. When certain requirements are violated, the result can be a finding in the annual audit to be filed with Real Estate Assessment Center (REAC) within the Financial Subsystem Assessment (FASSUB).
Gifts or donations given to your organization are synonymously referred to as contributions or in-kind contributions. In this blog we will offer procedures that will help you set your financials up well and strengthen your relationships with donors and the community you serve.
Though employee fraud and dishonesty is rarely foreseeable, it is always possible. In order to protect your United State Department of Agriculture (USDA) – Rural Development (RD) property, you will want to understand what fidelity bonds are and how you should be calculating yours.
For-profit HUD projects are given the opportunity two times a year to distribute surplus cash to the owners involved in the property. These biannual distributions always depend on calculating the property’s surplus cash and must be in correspondence to the guidelines established in the HUD regulatory agreement.
2020 has finally ended! We made it. We can breathe a sigh of relief. We all hopefully anticipate a healthier 2021! However, if you are a small business owner, 2020 cannot be fully be forgotten until all business and individual tax returns have been filed, and if applicable, the audit or review engagement is complete. …
If you’re like many affordable housing property owners or managers, you’re likely swimming in paperwork and files, desperate for decluttering. While there are many documents you can dispose of, there are many that are critical to your property’s compliance and legal obligations.
Many times, entrepreneurs get so wrapped up in the day-to-day operation of their business they forget to take a step back and protect what they have built. Here are 5 things you can do to protect your growing business. Financial Planning – Sound financial planning has many aspects. It ranges from having a trusted…
Donovan Named One of 15 Partners We are excited to announce a new partnership with the Old National Bank Center for Closely Held Business within Butler University’s Andre B. Lacy School of Business. Donovan CPAs was announced as one of its accredited partners to help companies working with the Center to achieve their goals. The…