Most projects, programs, and departments housed under larger parent organizations do not receive their own audit or review. If your entity did not receive an audit or review distinct from your parent organization, when you are creating your Cultural Data Profile (CDP) you should select “No” when you are asked if you receive an annual audit. This will tailor the CDP for your organization, department, or entity and suppress the Balance Sheet section.
If you do not have your own financial statements, you should work with your parent organization, business office, or other appropriate party to obtain information about the actual amounts your entity received and spent within the fiscal year. In most cases this will vary from your budget, which is a projection into the future and usually contains estimates.
If you did not receive any earned or contributed revenue outside of what was given to your program by your parent organization, you should enter the entire revenue amount you used from your budget on the Parent Organization Support question in Revenue.
As you enter your expenses, include all of the direct expenses incurred, as well as the expenses covered on your behalf by your parent organization. To enter staff expenses in the CDP, work with your parent organization to determine the appropriate portion of payroll taxes, health insurance, and any other benefit expenses your parent paid on your behalf.
In the Contributed Revenue s section, your parent organization should not be counted as a contributor to your organization.
For more information about entities under a parent, please see:
How do I know if I have a parent organization? What is an entity under a parent?How do I track the salaries or wages for my employees if we are an entity under a parent?
