Center for Urban Families
ACS provided expert guidance to rebuild financial systems, secure critical financing, and establish a foundation for long-term growth.
12 months of transactions
restored with 100% accuracy
Two qualified team members
onboarded for lasting stability
funding approved for
new building
Overview
When the Center for Urban Families (CFUF) faced a critical financial challenge after their accountant unexpectedly departed, they turned to ACS Business and Accounting Solutions for expertise and guidance. With no transaction records in their accounting system and an urgent need for financial statements to secure financing for a new building, we became their trusted partner to navigate their financial complexities.
The Challenge:
CFUF’s accounting system was missing an entire year’s worth of transaction records, leaving them without accurate financial data. To secure financing for their new building project, they needed properly categorized financial statements to meet lender requirements. Without an in-house accounting team, they faced ongoing struggles with maintaining financial clarity and operational efficiency.
Our Solution:
The ACS team meticulously reconstructed a full year of transactions, ensuring accuracy by sourcing supporting documentation and categorizing each entry appropriately. We developed and implemented new accounting processes to streamline future financial management and prevent similar issues from recurring. To strengthen their internal financial team, we assisted in hiring two qualified in-house accounting professionals, conducting interviews with over ten candidates and recommending top talent. Even after these improvements, we continued to provide strategic financial oversight, serving as their outsourced Controller to ensure long-term financial stability and operational success.
The Results:
- The client successfully obtained their financing for the new building, thanks to the accurate financial statements prepared by ACS.
- With a well-organized accounting system in place, they now have full financial transparency and operational efficiency.
- The newly hired in-house accounting professionals, vetted and recommended by ACS, enhanced their financial team’s capabilities.
- ACS continues to support their financial health and long-term growth as a trusted outsourced Controller.