Outsourced CFO Services

C-FACTS has demonstrated its expertise in providing outsourced CFO services, conducting financial performance assessments, and assisting with cost allocation and indirect cost rates. Here are key achievements and projects in these areas:

Outsourced CFO Services:

C-FACTS provided CFO services to a nonprofit organization focused on affordable housing with numerous real estate entities and total assets exceeding $40 million.
Achievements included implementing timely and accurate financial reporting, enhancing internal controls through policy and procedure changes, and conducting financial performance analysis by real estate entity.
C-FACTS successfully led the organization through a consolidated audit process with no audit findings and developed cash flow projections for clear financial performance presentation.

Financial Performance Assessment:

C-FACTS conducted a comprehensive financial performance assessment for a nonprofit client, evaluating their financial condition and comparing their performance against industry standards.
The assessment provided management and the Board with a clear view of the organization's financial health and vulnerabilities.
C-FACTS developed a financial dashboard with key metrics to assist in decision-making and provided recommendations for financial stability.

Cost Allocation and Indirect Cost Rates:

C-FACTS worked with federal government agencies and grantees to improve financial management systems, strengthen internal controls, and develop cost allocation plans and indirect cost rates.
In the case of the City of Detroit, C-FACTS identified over 1,000 idle projects and $25 million in unspent CDBG funds, leading to fund reprogramming and meeting CDBG timeliness test requirements.
C-FACTS also assisted the City in revamping indirect cost rate methodologies to better align with industry norms, resulting in reduced rates.
The firm conducted Indirect Cost Rate training sessions for the local HUD field office in Detroit, benefiting all Michigan HUD grantees.

C-FACTS' expertise in financial management and its track record of improving financial processes and performance for organizations underscores its commitment to assisting clients in achieving financial stability and compliance with federal regulations.