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Recent Posts by Michelle Sylvia Spriggs

How to Prepare for a Successful Implementation of the New Not-For-Profit Reporting Standards
Posted by Michelle Sylvia Spriggs on Fri, Jan 25, 2019 @ 08:35 AM

Now is the time for not-for-profit organizations to begin implementing the new changes to their financial statements. Changes issued under the Financial Accounting Standards Board (FASB) Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities is effective for calendar year-end entities in 2018, and fiscal year-end entities in 2019.

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Topics: not-for-profit, Michelle Spriggs, NFP, nonprofit, Not-for-profit financial statement, Financial Statement

Increased Thresholds for Micro-Purchases and Small Purchases Effective Immediately
Posted by Michelle Sylvia Spriggs on Tue, Jul 10, 2018 @ 06:01 PM

On June 20, the Office of Management and Budget (OMB) released a memo on new thresholds for micro-purchases and small purchases under the Uniform Grant Guidance. The OMB memo dramatically increased these thresholds, which should simplify purchase processes for not-for-profit organizations receiving federal funds.

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Topics: not-for-profit, Federal OMB Grant, Michelle Spriggs, OMB, NFP, Uniform Grant Guidance, nonprofit, micro-purchase

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