GASB Issues Omnibus Statement
The Governmental Accounting Standards Board has issued an omnibus statement addressing a wide range of practice issues.
Best Practices: Assess Investment Portfolio Risk and Return Using Benchmarks
In this article, we’ll discuss recommendations from the Government Finance Officers Association (GFOA) about best practices for measuring portfolio risk and return against market indexes and benchmarks.
Best Practices: Internal Controls for Grants
As our government clients work to safeguard grants and comply with Office of Management and Budget (OMB) requirements, strategic planning for internal controls is critical.
Indirect Cost Allocation Best Practices: 6 Simple Questions
As our government clients strategically manage finances to meet the increasingly complex needs of the public, compliance with Office of Management and Budget (OMB) requirements is critical.
SEFA Preparation Best Practices
As our government clients strive to optimize the way they manage finances, compliance with Office of Management and Budget (OMB) requirements is critical. When it comes to the Schedule of Expenditures of Federal Awards (SEFA), it’s important to implement procedures that ensure an accurate and complete SEFA.
GASB Issues Guidance for Developing Note Disclosures
The GASB has issued guidance on the development of note disclosures as part of its framework for establishing consistent accounting and financial report standards.
Grants Administration Best Practices: Maximize Benefits and Minimize Risk
Failure to comply with grants administration requirements is common but often unintentional. The source of the problem is typically a lack of communication or misunderstanding of compliance requirements. We’ve summarized the list of GFOA best practices for grants administration below.
OMB Issues 2022 Compliance Supplement
The OMB has released the 2022 Compliance Supplement, which is effective for audits of fiscal years beginning after June 30, 2021.
Smart Cities: Digital Transformation and Municipalities
As technology evolves, more and more public sector entities are seeking to leverage it to solve some of their most vexing challenges.
Single Audit Deadline Delayed by Six Months
On March 19, 2021, the Office of Management and Budget issued a memo directing federal agencies to delay, by six months, the deadline for recipient organizations to submit Single Audits. The new deadlines are September 30, 2021 and March 31, 2022.