Retiring CFO



The CFO Advisory Team of Grassi & Co. was called by a $20 million non-profit school whose long-time CFO was retiring at the end of the school year. 


1. The school had previous experience with Grassi from an engagement several years earlier. Due to the success of this special-purpose engagement, the school contacted Grassi to provide outsourced CFO services until a permanent replacement could be hired.

2. Our professional took over the CFO's responsibilities and met with the rest of theaccounting department to learn what each person did, determine how any summervacation schedules might impact daily responsibilities, and discuss the overall plan tooperate in the absence of the retired CFO.

3. Worked with accounting department to identify more cost and time efficient processes.

4. Due to an imminent, recurring annual cash flow slow down, receivables were reviewedwith the Executive Director. School districts were identified to be contacted, strategy wasdeveloped for collecting old balances, and the draw down on the line of credit was minimized.

5. The team attended several board meetings and assisted the Executive Director in presenting financial information. Questions were addressed concerning the school's accounting department and work flow.

IMPACT: How We Brought Value:

The accounting department was able to continue performing in a business-as-usual environment, financial operations were maintained over the course of a three month period. Within two weeks of hiring a controller, a smooth and full transition was made from our acting CFO to the new contorller with no disruption to business. 

For more information about how we can help your organization, contact Bruce Latman, Consulting Manager, at