Recent News & Blog / Local Government
Rethinking the budget process
In today's changing financial environment, effective budgeting is key to achieving long-term sustainability. Whether you're managing finances for a government entity, school district, or another organization, rethinking your budget process can help you overcome challenges and optimize resources. Here’s an overview of strategies and best practices for a more robust and forward-thinking approach to budgeting.
Understanding GASB 101: Accounting for Compensated Absences
The Governmental Accounting Standards Board (GASB) issued Statement No. 101 (GASB 101), Compensated Absences, in June 2022. A compensated absence refers to paid leave earned by employees for time off, such as vacation leave, sick leave, holiday leave, or other types of paid time off.
Maryland Department of Labor issues new guidance on Wage Transparency and Paystub Notice obligations
Maryland will have two significant laws go into effect on October 1, 2024. These laws will require employers to provide employees with more upfront information about a job's wage and benefits, as well as, more transparency on paystubs. Read here to ensure your business is compliant.
Government training sites
In today's rapidly changing environment, governmental organizations must stay informed on the latest policies, developments, and best practices. Access to high-quality training resources is essential to help these organizations thrive.
An overview of the updates to 2 Code of Federal Regulations (CFR) Part 200 (Uniform Guidance)
Uniform Guidance is a framework introduced by the Office of Management and Budget (OMB) and used across various government agencies and departments for grant management.
Upcoming changes to federal award regulations
You may have heard changes are coming to the Uniform Guidance, which affects how federal awards are managed. Organizations need to understand how these changes could affect future requirements for a federal single audit.
Governmental entities: How to prepare for an audit
Preparing for an audit is a year-round process with several components, making it a challenging task for some. Understanding the contributing factors and timeline of an audit can help ensure you complete yours on time and accurately.
GASB - Upcoming changes to reporting model and basis of accounting
The Governmental Accounting Standards Board (GASB) is in the process of making significant changes to governmental financial statements and the underlying basis of accounting and has issued several documents for public comment.
Outsourced CFO Services - What are they and how can they benefit your organization?
By: Krista Gardner, CPA Member of the Firm
GASB 96 - What is a SBITA and how will our governmental entity implement this standard?
By: Kevin Stouffer, CPA Member of the Firm