FY16 November Executive Director Report
National bookings and national publicity
Accounting support
FY15 Audit
FY15 fieldwork is in progress. We hope to have the audit for approval at our January meeting.
LOC
Line of credit has been extended through December because of issues with up to date financials. We are scheduled to renew the LOC on December 24.
HR
Singer 360s are complete. Unanimous comments that the process is helpful and productive.
Foundation/Government grants
- Two additional bookings have come in for FY16. We are pushing hard for additional summer bookings. We are now at $331,900 on a goal of $350,000.
- Bookings are starting to come in for FY17.
- AAM and RDPR staff was at both of our NY concerts…very impressed and good energy.
- A booking at WQXR’s Greene Space has been confirmed for February 8. From RDPR: New York is the #1 market in the country for music with the most prestigious presenting organizations in the world. Likewise, WQXR is very selective about events they present at the Greene Space so an appearance there is a stamp of approval recognized by the entire classical community in the city (and beyond). Benefits are threefold: we get valuable airtime on NYC's classical music station, we have an exclusive and beautifully produced event to which we can invite press and presenters and we'll have the resulting program that can be shared as a valuable part of the Cantus press kit.
Accounting support
- We are ending our contract with Mobius (accounting services) this month for cause. An agreement is about to be signed with CliftonLarson (CLA) accounting.
- Cantus office will continue to monitor cash flow, file payroll and manage accounts payable and credit card.
- CLA’s accountant will:
- Reconcile monthly credit card transactions
- Record cash deposits weekly or as needed
- Enter daily transactions from various sources including Cantus’ varied revenue streams and prepare monthly bank reconciliation
- Reconcile CD inventory and prepare monthly journal entry to adjust for COGS
- Prepare monthly depreciation and deferred revenue reconciliation as well as prepare journal entries
- Reconcile all other balance sheet accounts and prepare journal entries as needed
- CLA’s controller will:
- Review and approve monthly reconciliations and journal entries prepared by senior accountant
- Prepare, review and present monthly financial statements to Management
- Present quarterly financials and financial forecasts to Management and Board of Directors
- Oversight of various revenue streams and grant reporting
- Facilitate with annual budget process
- File and review sales taxes in applicable states
- Evaluate internal controls, processes and policies, and recommend improvements
- Gather and prepare all work papers to facilitate the annual audit
FY15 Audit
FY15 fieldwork is in progress. We hope to have the audit for approval at our January meeting.
LOC
Line of credit has been extended through December because of issues with up to date financials. We are scheduled to renew the LOC on December 24.
HR
Singer 360s are complete. Unanimous comments that the process is helpful and productive.
Foundation/Government grants
- Our MSAB Tour grant for FY16 was declined ($59,830). ML attended the panel review and talked with program director and has notes for future applications.
- McKnight indicated that they would consider an increase in our annual support…from $30K to $40k/year.
- Driscoll Foundation (new) has committed verbally to a $10,000 grant in support of our HSR program.
