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Your UHY nonprofit audit team realizes that the current COVID-19 situation is already having a negative impact on many of our clients. Organizations are in the position of having to analyze cash reserves as they are faced with the decision on if or how long they can maintain payroll or other pertinent operating expenses. Lost revenues from fundraising events and earned program revenue are already impacting a great number of organizations.
Although it is not possible to reliably estimate the length or severity of the situation, we are advising our clients to evaluate the need for some proactive steps that may help ease cash flow issues. Below are some potential cash/revenue infusions to consider as you begin to assess if your cash reserves will outlast the return to normalcy.
We are here for you and we will get through this together.