Family League Current Systems and Audit/Tax Reporting Procedures
I. Systems Overview
· Abila MIP (http://www.abila.com) – General Ledger and Related Financial Modules. Abila MIP is Family League’s main financial tracking system. In addition to the primary General Ledger package, we utilize the following modules:
- Accounts Payable
- Accounts Receivable
- Budget Preparation
· Paylocity Payroll and HR Online - Family League uses Paylocity to process payroll and administer benefits. Tax payments and year-end tax reporting and processing are also outsourced to Paylocity.
· EFT Payments via PNC Bank - Family League utilizes PNC online banking and processes most its cash disbursements via EFT processing.
II. Statistical Overview
· Projected 2017 Annual Revenues/Operating Expenses are $30M.
· Substantially all receipts annually are in restricted grants, with >90% from government sources.
· There were 14 federal programs with expenditures of $10.4M in fiscal 2016.
· The Organization employs 50 Individuals.
· Employee benefits include:
- A Retirement and Supplemental Retirement 401K plan
- Health & Childcare Flexible Spending
- Long-term Disability
- Group Life & Accidental Death
· Approximate number of A/P checks processed annually is 1,000.
*A copy of Family League’s 2016 Statements of: Financial Position, Activities and Changes in Net Assets, and Functional Expenses accompany this document.
III. Tax Reporting
The prospective firm will be responsible for the timely and accurate filing of federal tax reporting. This includes, but is not be limited to:
· Federal Form 990 Return of Organization Exempt from Income Tax
· Any required 5500’s related to various fringe benefit plans
IV. Annual Cycle
Family League is on a July 1st – June 30th fiscal year. We close our books on June 30th of each year. We expect to utilize the subsequent 8-10 weeks to fulfill client responsibility requirements. Beginning in September, we are prepared to commence field work with completion by or around September 23rd.
We are required to report in December to the Board and to the Governor’s Office for Children. We look for drafts to be available by November 15th. Final statements should be available by the last week in November.