ISEN-ASTC-L is a service of the Association of Science-Technology Centers
Incorporated, a worldwide network of science museums and related institutions.
*****************************************************************************

Catherine,

I was Treasurer for the Board of Trustees of the
Andrew Carnegie Free Library and Music Hall in
Carnegie, Pennsylvania back in the mid-1990s. Our
Library complex also includes a small Civil War
Museum.

We always paid for our annual audit, which was
required to receive state and local funding. Every
three years we would gather bids from local CPAs and
choose the lowest bid. Of course, being a public
library that is free-of-charge at all times, there was
no opportunity to barter for this service.

Since I have been off of the Board for several years
now, I have no idea if there are new professional
standards that may require a higher price. However, I
will see the current Library Treasurer [who IS a CPA,
but, of course, does NOT do our annual audit] on
Monday, at a Library special event; so, I will ask him
at that time,

gaw

--- Catherine Olmer <[log in to unmask]> wrote:

> Date:         Thu, 6 Sep 2007 16:49:56 -0400
> From:         Catherine Olmer <[log in to unmask]>
> Subject: Financial Audits
> To:           [log in to unmask]
> 
> ISEN-ASTC-L is a service of the Association of
> Science-Technology Centers
> Incorporated, a worldwide network of science museums
> and related institutions.
>
*****************************************************************************
> 
> Like most non-profits, we  have an annual financial
> audit. This is done by a
> local CPA firm, and they charge us for the service,
> with a reduction for
> being a non-profit agency.
> 
> We have just been informed by the firm that they are
> raising their rates in
> 2008, to do the audit of year 2007.  This will
> include a $2,000 one-time fee
> "related to new audit standards implementation" as
> well as a 42% increase
> ($2,900) in the financial statement audit.
> 
> They say that this is necessitated because of many
> new changes in
> professional standards for audits, which are
> applicable starting in 2007.
> They say that these changes will result in
> significantly more time needed
> for the audit and therefore they need to charge
> higher rates. They also say
> that this will impact every audit they do, and every
> audit firm.
> 
> Could you please let me know:
> 
> 1. Do you pay for your annual audit, or is this
> service provided as an
> in-kind donation? If the latter, do they also do
> your federal and state tax
> forms?
> 
> 2. Has your auditor mentioned anything about audit
> rates for next year? If
> so, what type of effect are you seeing -- increase,
> decrease or staying the
> same?  And if an increase, by how much, please?
> 
> Many thanks!!
> 
> Catherine Olmer
> 
> Executive Director, WonderLab Museum of Science
> Health and Technology
> 308 West 4th Street, Bloomington, IN  47404
> (812) 337-1337, extension 16
> (812) 330-1337 fax 
> [log in to unmask]
> www.wonderlab.org
> 
> Professor of Physics, Indiana University
> Swain West 117
> Indiana University, Bloomington, IN 47405
> (812) 855-0173
> (812) 855-5533 Fax

gaw

Glenn A. Walsh
Electronic Mail - < [log in to unmask] >
SPACE & SCIENCE NEWS, ASTRONOMICAL CALENDAR:
  < http://buhlplanetarium.tripod.com/#news >
Author of History Web Sites on the Internet --
* Buhl Planetarium, Pittsburgh: 
  < http://buhlplanetarium.tripod.com >
* Adler Planetarium, Chicago:
  < http://adlerplanetarium.tripod.com >
* Astronomer, Educator, Optician John A. Brashear:
  < http://johnbrashear.tripod.com >
* Andrew Carnegie & Carnegie Libraries: 
  < http://andrewcarnegie.tripod.com > 
* Duquesne Incline cable-car railway, Pittsburgh: 
  < http://incline.pghfree.net >
* Public Transit:
  < http://andrewcarnegie2.tripod.com/transit >


       
____________________________________________________________________________________
Boardwalk for $500? In 2007? Ha! Play Monopoly Here and Now (it's updated for today's economy) at Yahoo! Games.
http://get.games.yahoo.com/proddesc?gamekey=monopolyherenow  

***********************************************************************
For information about the Association of Science-Technology Centers and the Informal Science Education Network please visit www.astc.org.

Check out the latest case studies and reviews on ExhibitFiles at www.exhibitfiles.org.

The ISEN-ASTC-L email list is powered by LISTSERVR software from L-Soft. To learn more, visit
http://www.lsoft.com/LISTSERV-powered.html.

To remove your e-mail address from the ISEN-ASTC-L list, send the
message  SIGNOFF ISEN-ASTC-L in the BODY of a message to
[log in to unmask]