Marcia ncdc presentation

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Marcia ncdc presentation

  1. 1. Norwich CommunityDevelopment Corporation Marcia L. Marien, Partner O’Connor Davies, LLP
  2. 2. Financial Highlights
  3. 3. Financial Highlights
  4. 4. Internal Control Responsibility– Management is primarily responsible for internal controls– The Board is ultimately responsible for internal controls
  5. 5. Internal Control Responsibility– Established the “Tone at the Top”– Assessed risks– Use Internal Control Tools to reduce risks (i.e. segregation of duties)– Have written policy and procedures
  6. 6. Internal Control ResponsibilityMonitor (continually review and assess) compliance with and adequacy of internal controls.  Compliance deteriorates over time  New risks may surface over time  Management changes over time
  7. 7. Form 990: Annual Tax Return– Overview– Statement of programs/accomplishments– Required schedules– Filing and tax compliance questions– Governance questions– Compensation information– Financial summary
  8. 8. Observations Over Time– Remember this website?
  9. 9. One More Reconciliation is now…..

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