McKonly & Asbury

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of Central Pennsylvania Youth Ballet (CPYB). We are one of the leading ballet education places in the country, and we're able to train and represent aspiring dancers from over 43 states in seven countries.

We’ve become the only school licensed to perform George Balanchine’s “The Nutcracker”. Since 1995, we’ve always established our organization as one of the leaders in ballet training.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with McKonly & Asbury?

I was looking to address our comprehensive accounting services needs, from accounts payable all the way up to guidance and advice to a CFO level.

SOLUTION

What was the scope of their involvement?

McKonly & Asbury handles our accounts receivable, bookkeeping, and more. Initially, we had an in-house finance manager. We went from having everything on one person’s shoulders to now having a team of finance professionals. 

The team also helps us prepare for our annual audit in addition to cash flow management, monthly reconciliations, and financial planning. Basically, they perform everything under the sun to help us see where we are and help us navigate not only everything during the COVID-19 pandemic but also during our period of growth. 

What is the team composition?

We work with David (Partner & Director of Entrepreneurial Services) and three other team members.  

How did you come to work with McKonly & Asbury?

We were in our period of growth as an organization and we needed to have a better handle of where we stood financially and how we could continue to grow responsibly. At that point, I was introduced to David and I asked him for a meeting. 

Then, I told him everything about CPYB, and from the get-go, he understood all of the different layers and programs that we had and how we could intertwine them. They also allowed us to see where we stood, so we knew that it was going to be a great fit from the beginning. David understood what we were about and our company realized we had parallel values. They were able to offer everything at a high level and understand our business. 

How much have you invested with them?

We’ve spent a little over $50,000. 

What is the status of this engagement?

Our ongoing relationship began in May 2019.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

McKonly & Asbury’s contributions have been immeasurable. They’ve allowed us to save an enormous amount of time. To be specific, as the CEO, I don’t need to build reports and other similar things to the board anymore. I don’t see our partnership going away; It’s going to be a long-term relationship.

How did McKonly & Asbury perform from a project management standpoint?

We communicate with each other by going over Kastle analysis once a week. Then, we also have monthly finance committee meetings and monthly reconciliation meetings. They have an amazing and extremely efficient way of putting monthly projects together.

What did you find most impressive about them?

Their commitment to our values allows them to deliver efficient and detailed work that’s superior to anybody that I’ve ever worked with. 

Are there any areas they could improve?

No, I don’t think they have any areas to improve.

Do you have any advice for potential customers?

Tell them everything about your business, even if you think it’s not pertinent. That way, they can find a way to give you advice and enable you to continue succeeding in your business.