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Charter Schools Not Exempt from MA Paid Family and Medical Leave Law

AAFCPAs would like to make charter school clients aware that the Massachusetts Department of Family and Medical Leave recently issued a policy clarification related to certain excluded employers of the new Paid Family and Medical Leave (PFML) law. Municipalities, districts, political subdivisions, and other agencies are excluded from PFML law unless they choose to opt-in. Charter schools are not considered a part of a municipality and are not excluded from... continue reading

To Stay Secure, Think Like a Fraudster

To Stay Secure, Think Like a Fraudster

Take the case of one private secondary school, where the business officer was accused of cutting checks worth more than $50,000 to pay for personal travel expenditures. He entered the transactions into the school record as payments for school travel. Because the hotels and airlines were the same companies the school used for professional development, fundraising visits and its annual gala, the misappropriation was difficult to detect. No one thought... continue reading

Update Debt Disclosures in Compliance with GASB-88

AAFCPAs would like to remind clients and friends that, in April 2018 the Government Accounting Standards Board (GASB) issued Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. This standard is applicable for entities following governmental accounting standards, including AAFCPAs’ Charter School clients in Massachusetts and New Jersey, as well as other quasi-governmental organizations. The standard is applicable for reporting periods beginning after June 15,... continue reading

AAFCPAs to Present Workshop on Anticipating Fraud at NBOA Conference, San Diego, CA

AAFCPAs has been selected to present an educational workshop: Rogue Waves Sink the Unwary Vessel: Think Like a Fraudster at the National Business Officers Association (NBOA) Conference in San Diego, CA, March 3-6. This is a must-attend conference for CFOs, heads of school and other business and operational leaders in nonprofit K-12 education, providing exceptional learning opportunities that touch on independent school leadership, finance, enrollment, risk management, facilities, governance, fundraising, technology, and... continue reading

AAFCPAs to Present Workshop on Internal Controls & IT Countermeasures to Mitigate Risks

AAFCPAs’ Vassilis Kontoglis and David Kelleher will present an educational workshop on Best Practices in Internal Controls and IT Security to assist in mitigating risk at The Massachusetts Association of Early Education & Care (MADCA) Administration and Management Conference, in Worcester, MA on November 28th. Risk Management requires continuous improvement, and organizations must stay vigilant, and learn & adapt over time. In this interactive session, AAFCPAs will highlight critical risk... continue reading

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

Listen to Podcast Click here to listen to podcast or use the above media player. AAFCPAs, in collaboration with The Boston Chapter of Financial Executives International (FEI-Boston), conducted a survey of over 250 Chief Financial Officers in an effort to capture what issues are currently ‘top of mind’ for senior financial executives in the Northeast region of the United States. We asked CFOs to provide their thoughts, opinions, and experiences... continue reading

Educational Podcast: How to Right-Size Your Finance Function

Educational Podcast: How to Right-Size Your Finance Function

Listen to Podcast Click here to listen to podcast or use the above media player. Over one third of CFOs surveyed report human resource limitations and team bandwidth as the PRIMARY challenge in meeting the expectations of their CEO. Nonprofit finance departments are often juggling the day-to-day accounting and bookkeeping responsibilities alongside more complex and time consuming tasks, such as: HR-related activities; optimizing revenue; mergers & collaborations; data & cyber... continue reading

Educational Podcast: Cybersecurity in 2018

Educational Podcast: Cybersecurity in 2018

Listen to Podcast Click here to listen to podcast or use the above media player. Techniques of cyber-criminals continue to evolve. A recent study shared by InfoSecurity Magazine reports “Cyber-criminals have adopted an organizational shift in how they carry out their work, implementing corporate best practices and establishing professional businesses to increase the efficiency of their attacks against enterprises and consumers.” This means advanced persistent threats specifically targeted at your organization and... continue reading

Educational Podcast: Unraveling the Mysteries of Employee Benefit Plan Costs

Listen to Podcast Click here to listen to podcast or use the above media player. Clients often ask “How much does my employee benefit plan cost, and how do costs relate to compliance and risks?” Plan costs are often buried and difficult for plan sponsors to truly figure out. In order to meet their fiduciary responsibilities, plan sponsors must ensure they “pay only reasonable plan expenses…” among other things.  Plan... continue reading