Audits are necessary

Audits are necessary

1:1 Volunteer organizations help make Rappahannock County a special place to live and work. We would hate to imagine this county without the volunteer fire departments and rescue squads, the churches, and all the other groups that Weave a tapistry of service throughout the county.

All of these organizations have one thing in common: they rely on the voluntary contributions of Other Peoples’ money. When organizations solicit and accept these contributions they also accept the responsibility to account for every last dime. When the accounting is not meticulous, constant and unrelenting, tensions can rise. Sooner or later someone will say the wrong thing or ask the wrong question about money and the resulting wounds take years to heal. Zi There is an easy solution. Every organization that accepts Other Peoples’ money should have its books reviewed by an outside auditor every year. The requirement should be Written into the bylaws. The auditor’s report reassures donors that the organization is being properly managed; it encourages regular contributions. Treasurers should not be insulted by the requirement and when a new treasurer is selected the changeover is relatively painless.

The Virginia Society of Certified Public Accountants and the Virginia Department of Volunteerism are sponsoring a half-day seminar on May 15. The program is specifically designed to help non-profit organizations understand and manage their finances. Sr The seminar will be held at the Insbrook Corporate Cjenter office building near Short Pump west of Richmond and Will cover such things as avoiding embezzlement and fraud, ihd meeting IRS requirements, which continue to grow more onerous on non-profit organizations every year. Z- If your organization could not continue without Other Peoples’ money, and it does not require an annual audit, call tJie CPA’s at 800-733-8272 and reserve a seat. Your treasurer will be glad you did. ■^51 w- ■■ ■ ..