Analyzing Financials for a Local Human Services Agency
Written by Sue Reschke
Client Overview
Our client has a long history of serving the Greater Rochester community, providing essential human services to those in need for over 104 years. The Agency is a community organization with inclusive programs and available to anyone in need.
The Opportunity
The long-term CFO resigned from the Agency in late 2023. The relatively new CFO wanted to assess the overall needs of the Agency before deciding how to proceed in filling the Finance leadership role.
“The 1RDG team worked closely with the HR Leadership team to bring standardization and efficiency to the Payroll submission process and streamlined the process to summarize, record and distribute each payroll to the Operating Program departments on the Client’s Financial Reports.”
The Solution
1RDG assigned two staff – a Bookkeeper and Controller – to work directly with the Agency on assessing the Finance related needs of the Agency, keeping the day-to-day transactional functions going, and improving the overall efficiency of the Accounting Department functions. Since the organization is heavily funded through Grants and Contracts, the 1RDG staff worked closely with the leadership team to ensure that Grant/Contract applications were submitted to maximize new and on-going funding for the Agency.
The Outcome
As a result of the engagement with 1RDG, the client was able to maximize their performance with the new oncoming CFO. The 1RDG team was able to complete Workflow documentation for daily, weekly, and monthly responsibilities for the Bookkeeper/Accounting Staff role. While this work was being completed, there were many efficiency improvements that were made to the daily workflow that improved the functionality of the tasks and reduced the number of hours spent on manual intensive tasks.
The 1RDG team worked closely with the HR Leadership team to bring standardization and efficiency to the Payroll submission process and streamlined the process to summarize, record and distribute each payroll to the Operating Program departments on the Client’s Financial Reports.
The 1RDG Controller worked closely with the CEO and the Senior Management team to produce monthly Financial Statements for the Finance Committee. These Financial Reports included a Daily Cash Flow activity report and a Monthly Cash Flow forecast report to inform the Finance Committee on the Agency’s cash flow and to identify possible cash shortfalls in the coming months.