Interim CFO Helps Nonprofit Healthcare Facility With Year-End Close
Requirement: Interim Management Services - CFO
The client is a nonprofit healthcare facility that experienced turnover in its CFO position near their fiscal year-end close. The CEO was performing the tasks of both positions and subsequently needed an interim solution to help maintain productivity of the CFO function until a permanent full-time replacement could be identified, including help with year-end reconciliations and audit documentation preparation.
ProNexus was engaged by the client to provide Interim Management services, assigning a consultant with industry experience at a CFO level. In this role, ProNexus performed all the needed year-end reconciliations and helped provide the documentation needed to complete the audit engagement. Toward the end of the engagement, the client realized that a full-time CFO position was not necessary. Therefore, the ProNexus Interim CFO has continued to act as part-time CFO for the client a few days per week depending on time of month and workload. It is undetermined how long this arrangement will continue, but it is filling the current need and working well for both parties.
The client is extremely happy with ProNexus. Since this initial engagement, the client had an additional need for a cost report specialist in order to file their annual Medicare/Medicaid cost reports. ProNexus was able to accommodate the request and place another interim person to assist with the reports.