Regional Center Audits SB 74 & Section 4652.5

If you’re a for-profit or a non-profit service provider receiving annual disbursements from one of the 21 California Regional Centers, you may now be required to contract with an independent accounting firm to conduct an annual audit of your finances.

For service providers with revenue between $500,000 and $2,000,000, a review is required.  For providers with revenue over $2,000,000, an audit is required.

The audit reports must certify that 85% of all government funds are used for actual programs and that no more than 15% is funneled toward administrative costs.  This new statute was passed after widespread reports of nepotism and other abusive practices among service provider management.

Look to Breard & Associates, Inc. to get it done.

Breard & Associates, Inc.’s years of experience in non-profit audits and reviews, and other regulations, as well as our reasonable fees, make us the perfect choice for completing this audit thoroughly and on time.