Jeffrey V. Cicolini, CPA, CGMA

Partner

Jeff is a leader of AAFCPAs’ Community Impact Human Services Practice. He has extensive expertise serving complex, multi-service health & human services providers, including those offering behavioral health, affordable housing & shelter, family & youth services, special education, workforce development, and more. He is deeply familiar with the financial, operational, and regulatory complexities in this sector.

Jeff helps guide clients through compliance with federal, state, and local government funding, with an eye toward enhancing internal financial controls & maximizing reimbursements. Beyond this, he develops collaborative and consultative relationships that go beyond the traditional scope of audit services. This includes strategic financial guidance, regulatory compliance advice, risk management, and business advisory support, among others, tailored to each client’s specific needs. He helps clients make informed decisions, improve operations, and achieve their strategic goals.

Jeff’s technical expertise encompasses federal (Uniform Guidance), as well as state-specific financial reporting requirements and forms, including the MA Uniform Financial Report (UFR). He is frequently called upon to present training sessions on preparing the UFR, and currently serves on the Operational Services Division’s (OSD) 2023 committee charged with reviewing and suggesting enhancements and efficiencies to the burdensome filing. He advises clients on the impact of changing federal & state regulations, interpreting program results, and the importance of cost allocation methodologies on outcomes. Jeff is Treasurer and a member of the Executive Board of AAFCPAs. Since joining the firm in 1994, he has consistently contributed as a highly valued member of the firm.

Education

Salem State University – Bachelor of Science, Accounting with a minor in Economics, magna cum laude

Awards

Salem State University – Elizabeth Williams Wade Award (2022)
Salem State University – Jacob S. Segal President’s Award (2011)
40 Under Forty Best and Brightest Business Leaders Award (2009) – Worcester Business Journal

Publications

Service

Salem State University Alumni Association and Foundation – Board of Directors, Treasurer, Chair – Audit/Finance Committee & member of Executive Committee
Point of Pines Yacht Club – Treasurer/Officer

Contributed Insights

Review Occupancy, Cost Allocation Plans

The pandemic distancing and response requirements prompted many Human & Social Services provider organizations to reconfigure open space (such as conference & meeting rooms), in many cases resulting in more space being utilized directly in programs in furtherance of the mission. In many cases, these space management strategies have lasted beyond the pandemic, and AAFCPAs […]

Human & Social Services Pod End of Summer Get Together

Team members in AAFCPAs’ Human & Social Services Pod enjoyed an end of summer 2022 get together, hosted by partners Jeffrey Cicolini, Tom Muldoon, and Katie Belanger.

Pay for Success: a funding model with data at its core

There is at long last solid momentum gathering behind the pay-for-success (PFS) model of funding socially oriented projects and services: a shift in approach that emphasizes outcomes rather than activities. Through PFS contracts, the ecosystem of investors, government, and service providers is working together to create new opportunities and meet more impactful social goals. PFS […]