2015 Audit Services Schedule
January 22, 2015
As in past years, the Neighborhood and Community Relations (NCR) Department is organizing audits, financial reviews, and year-end filings for funded neighborhood organizations. Because several neighborhood organizations have requested audit services this year, we anticipate a heavier schedule than previous years. Each year’s audit schedule will be posted on the NCR website.
We would also like to let you know about two major changes for audit services starting in 2015.
- First, we have added three new CPA firms to help with audit services. In addition to Mike Wilson and Associates, we are now also working with Abdo, Eick & Meyers; BWK Rogers, and CliftonLarsonAllen. This will provide more options and flexibility for neighborhood organizations, and to complete audits more promptly. If your neighborhood organization is listed in the schedule below, we will contact you soon to begin scheduling one of these firms to work with you.
- Second, we are adding a new level of review that we are calling the Financial Operations Review. This is a new, informal, and proactive check-in with funded organizations to review how they are doing, provide feedback and an “accounting grade.” With some groups in transition, it may also include assisting them through the transition to help ensure continuity and stability. A Financial Operations Review may vary considerably from organization to organization.
These CPAs are available to assist neighborhood organizations with preparing the Federal IRS Form 990 and the Minnesota Charitable Organization Report forms, and these services can be included as part of an audit, financial review or Agreed Upon Procedures as well. Several neighborhood organizations simply need to file a 990N Electronic Postcard, which you can find at http://www.irs.gov/Charities-&-Non-Profits/Annual-Electronic-Filing-Requirement-for-Small-Exempt-Organizations-Form-990-N-%28e-Postcard%29.
2015 Audit Schedule
According to the NRP Audit Policy, audit reports consist of at least the following parts: 1) the financial statements, a schedule of NRP funds received and expended, and the auditor's report on the statements and the schedule, and 2) a management and compliance letter assessing the organization's internal control and management structure. The following neighborhood organizations are scheduled for an audit in 2015:
- Lyndale Neighborhood Association
- Seward Neighborhood Group
2015 Financial Review Schedule
Reviews involve specific procedures that are agreed upon in advance by the NCR Director, auditor, and recipient. These procedures include an evaluation of the organization's accounting practices, review of ledgers and source documents, and examination of procedures and records used to demonstrate compliance with NRP contracts. The following organizations are scheduled for a financial review in 2015:
- Elliot Park Neighborhood, Inc.
- Hawthorne Neighborhood Council
- Longfellow Community Council
- Marcy-Holmes Neighborhood Association
- Northside Residents Redevelopment Council
- Powderhorn Park Neighborhood Association
- Standish Ericsson Neighborhood Association
- Whittier Alliance
2015 Agreed Upon Procedures Schedule
Agreed Upon Procedures are a limited set of procedures that will vary from organization to organization, and may include tests, evaluations, or procedures, but does not provide an opinion. The Agreed Upon Procedures provide a snapshot of the organization’s governance, accomplishments, record keeping, internal controls, filings, and compliance with specific contracts. The following organizations will receive Agreed Upon Procedures engagements in 2015:
- Beltrami Neighborhood Council
- Bottineau Neighborhood Association
- Calhoun Area Residents Action Group
- Central Area Neighborhood Development Organization
- Folwell Neighborhood Association
- Harrison Neighborhood Association
- Kingfield Neighborhood Association
- Midtown Phillips Neighborhood Association, Inc.
- Stevens Square Community Organization
2015 Financial Operations Review
A Financial Operations Review is a new, informal, and proactive check-in with funded organizations to review how they are doing, give them feedback and an “accounting grade.” With some groups in transition, it may also include assisting them through the transition to help ensure continuity and stability. A Financial Operations Review may vary considerably from organization to organization.
- Bryn Mawr Neighborhood Association
- Audubon Neighborhood Association
- Columbia Park Neighborhood Association
- Downtown Minneapolis Neighborhood Association
- East Calhoun Community Organization
- East Isles Residents Association
- Heritage Park Neighborhood Association
- Lind-Bohanon Neighborhood Association
- Linden Hills Neighborhood Council
- Lowry Hill East Neighborhood Association
- Lowry Hill Neighborhood Association
- McKinley Community
- Nokomis East Neighborhood Association
NCR covers the cost of providing these financial services to Minneapolis neighborhood groups. Your timely responses to the auditors will ensure that we will be able to continue this support long into the future. To help keep costs down, and to keep filings and audits on schedule for everyone, we encourage you to be prepared for your work with the auditors, and to respond promptly to their requests for documents and information.
If you have any questions, contact Robert Thompson at (612) 673-2523, or by email at [email protected].
Last updated Jan 22, 2015