Rives & Associates In The News

R&A welcomes Hank Hurd, CPA to the Governmental Advisory Team

September 6, 2010

Letter from Hank Hurd, CPA Head of the Governmental Services Advisory Team

In response to the fiscal crisis facing LEAs across NC, and the requests of many LEAs, I have affiliated with Rives & Associates, LLP, CPAs in an effort to assist school districts with resource management at this critical time. I know firsthand the demands to address the fiscal health and budgetary concerns facing every local school system in North Carolina. Having served both as an Interim Superintendent and Chief Operating Officer of one of the largest school districts in North Carolina, as well as serving as CFO for the NC Department of Public Instruction, I have shared the daunting task you face as the trickle-down affect of our nation's economic crisis threatens the financial strength of your school system.

Budgetary demands have forced you to make difficult decisions, and even more difficult decisions must be made in the near future. What's worse is that your current fiscal coping strategy may only be a short-term solution, with the future likely to be more severe. Do you know for certain that you have weighed all your options? Can you be confident that you have done everything that can be done, and that you have left no stone unturned that might truly help? We have concrete, measurable strategies that can make a profound impact on your financial outlook. I ask you to consider the advantages of having these resources at hand:

1. Synergy from the combined strength and experience of one of North Carolina's leading regional CPA firms, well known, and respected throughout the State for the caliber of accounting, auditing and consulting services provided to public school districts along with the technical knowledge and financial counsel that I will bring to the firm as a CPA/MBA with over 30-years of experience in public schools finance and administration.

2. A team with the sole desire to collaborate, advocate and support the Superintendent and Finance Officer with advisory services to find measurable solutions for your school district.

3. An optimization model that could potentially save school districts thousands of dollars annually, and far exceed the consulting cost to the LEA.

4. Measurable strategies that would address: - Efficiency study of existing State Federal and Local funding streams - Priority will be placed on maximizing state positions through the ABC conversion processes
- Program prioritization and evaluation to formulate expenses reduction strategies
- Understanding variances, cost of doing business and how to spend within your means
- Fund balance analysis and reserve protection and maintenance
- Outsourcing LEAs critical services - evaluation and analysis
- E-Rate studies, school grants,
- Central office staffing analysis
- Lease vs. purchase analysis
- Strategic decision making, program prioritization, and resource allocation
- Valuing goals and results of the LEA, service measurement, and program evaluation

Our State's school districts are caught between the proverbial rock and hard-place facing budget shortfalls on one front and the public concern over quality education on another. In the midst of this squeeze, I would like the opportunity to meet with you to discuss how our governmental advisory services can be utilized to significantly increase revenues and decrease expenses at a fee that is based only upon our success. I look forward to calling upon you soon to arrange a convenient meeting time, and I encourage you to contact me in the interim if I can be of any immediate assistance to you.

Sincerely yours,
Rives & Associates, LLP
H. Hank Hurd, CPA
Senior Consultant – Governmental Advisory Services

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