by John F Heveron, Jr. Principal, Heveron and Company CPAs, Rochester NY Here is a quick overview of audited financial statements and what to look for when reading them. Auditors Cover Letter/Opinion This is addressed to the board and is
What does it mean to have an active board?
The board is the right size to operate effectively. Your bylaws require a minimum number of board members, and sometimes also give a maximum. Have you thought about what number works the best? I have seen minimums as low as
Allowable costs: Fines, penalties, damages, legal defense?
45 CFR §75.435 and 75.441 address the costs of these legal issues. The first is very detailed, so I am only going to touch on highlights. If you are working through this, your attorney will want to review the entire