Finance Consulting

Our team of financial, accounting, legal and tribal government experts can help you enhance your financial results by developing and implementing hands-on solutions that are individually tailored to meet your desired objectives.

Put our knowledge to work for you in the areas of:

Financial Policies and Procedures

Falmouth Institute can assist your organization in revising your financial policies and procedures to ensure proper and effective financial management. Financial policies are the “what” of financial management, financial procedures are the “how”. Financial procedures are a collection of statements that describe how to handle funds.

Financial procedures outline how to handle financial practices for things like:

  • Cash flow statements
  • Statement of financial position
  • Reports of assets
  • Receiving and endorsing checks
  • Documenting cash and preparing cash receipts
  • Training staff and volunteers on following financial policies
  • Authorizing people to open accounts, sign checks, etc.
  • Borrowing funds and establishing lines of credit
  • Detailing prohibited financial practices

Financial policies outline how to handle financial practices for things like:

  • Delegation of authority for financial decisions and transactions for leadership and staff
  • Procedures for conflicts of interest
  • Procedures for authority to spend funds and write checks
  • Procedures for managing payroll
  • Assignment of authority to enter into contracts

With detailed financial policies and procedures in place, your organization reduces risks associated with financial management. If there’s ever a question about a financial issue, your policies and procedures stand as a guide for how things should be done.

CLICK HERE to find out how our team can help you.

Indirect Cost Proposals

Are you tired of the IDC maze? Do you find it hard to keep on top of every regulatory change? Let Falmouth Institute, the country’s most experienced IDC proposal preparer, work with your tribal organization to ensure that your tribe receives all the indirect costs it is entitled to.

Our services include:

Document Review and Analysis

This includes a review of your recent audit reports, list of awards, budgets illustrating indirect costs recovered and other documents related to your indirect cost proposal. We will review and assess current status and recommend a course of action to help increase indirect cost recovery.

Assessment and Recommendations

Upon completion of the document review, our team will provide a detailed analysis of your current indirect cost situation. We will provide findings and recommendations for getting the tribe into compliance with any identified indirect cost challenges and deficiencies and will road map a strategy for maximizing indirect cost recoveries.

Indirect Cost Proposal Development

Falmouth will prepare IDC rates and related proposals for the specified years in the preferred Interior Business Center format and will aide in submission of all required documentation.

Interior Business Center Negotiations

We can support you in direct negotiation of your proposed indirect cost rates with the Interior Business Center.

CLICK HERE to find out how our team can help you.

Compensation Strategies

Developing a compensation system that allows for fair and consistent salary application for all employees is difficult. Let Falmouth assist in the development and implementation of an overall compensation philosophy that will guide your organization’s salary structure for years to come, including:

  • Job Description Review
  • Job Evaluation and Classification
  • Competitive Market Pricing Analysis
  • Salary Administration and Procedures

CLICK HERE to find out how our team can help you.

Grants Management

Falmouth’s Grant Writing and Management Services include:

• Grant Research and Training
• Program Planning and Design
• Proposal Development
• Program Management and Evaluation

Our team will work with tribal stakeholders to:

• Identify and articulate community-based needs or challenges
• Define measurable and realistic program outcomes
• Identify and articulate methods most likely to achieve those outcomes
• Establish and assure your organization’s credibility and capacity to operate the program
• Plan a realistic project budget

CLICK HERE to find out how our team can help you.

Internal Controls and Accounting Procedures

Falmouth Institute can review, revise, and develop your internal controls to ensure that they:

  • Adequately detect errors and prevent fraud or waste
  • Result in financial information that is timely, reliable and fairly stated
  • Make the appropriate financial information available to program managers and decision-makers.

Our team of Tribal Financial Experts can:

  • Review and supplement documentation of Internal Controls over financial reporting and compliance
  • Review transactions for appropriate supporting documentation for payroll, accounts payable and draw-downs
  • Analyze your finance software, accounting system and transaction tracking process

CLICK HERE to find out how our team can help you.

Pre-Audit Planning and Preparation

Falmouth Institute’s Pre-Audit Planning and Preparation specialists can help you prepare for your upcoming audits. Our team can provide expertise to get you through the audit quickly, economically, and with the least amount of pain. Our pre-audit services include:

• Review and supplement documentation of internal control over financial reporting
• Review transactions for appropriate supporting documentation for payroll, accounts payable and drawdowns
• Reconcile accounts payable, accounts receivable, grants receivable, deferred revenue, inventory and other assets/liabilities
• Prepare the fixed asset schedule
• Prepare final general journal entries and supporting schedules
• Generate financial statements, notes to the financial statements and SEFA
• Prepare audit confirmation letters
• Negotiate audit findings

CLICK HERE to find out how our team can help you.

Abila MIP Fund Accounting Software and Support

Abila MIP Fund Accounting is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your community. We can help you deliver on your mission with solutions that change and grow with you through your most difficult tasks, such as fund accounting, human capital management and payroll decisions.

Abila MIP Fund Accounting can help you: 

  • Stay organized – Transactions, budgets, and reports are delivered in a way that works for you 
  • Be compliant with the new OMB Omni audit requirements 
  • Make informed decisions – Track budget progress throughout the year by creating “what-if” scenarios 
  • Stay connected – Work on the road with a mobile app that allows you to view key information and perform quick tasks 
  • Be prepared – Breeze through your audit process with standard and custom reports 

Abila MIP Fund Accounting Modules

The modular structure of Abila MIP Fund Accounting (formerly Sage Fund Accounting 100) gives you the freedom to tailor the system to fit your specific needs and the flexibility to add modules as your organization evolves. All of the modules are fully integrated with the General Ledger and complement each other for a solid fund accounting solution.

Abila MIP Fund Accounting’s modular structure makes it a precise fit for the budget and programs you have today, with room for expansion and growth in the future. When your accounting and performance needs change, you have the opportunity to add modules to the system when you actually need them.

Our team can provide customized Abila MIP solutions for your organization through software sales, support and training.

CLICK HERE to find out how our team can help you.