Tag Archives: Arizona

Auditor Prepared Financial Statements – What Your School District Needs to Know

Posted on December 8, 2020 by Diane Bradley

A few years ago, I recorded a video blog on The Do’s and Dont’s of Reviewing Your School District Audited Financial Statements. This blog reviewed key information that your school district should know in order to perform a thorough and … read more >

Posted in Articles | Tagged AFR, Arizona, auditor, CAFR, CPA, financial statements, independent, non-attest service, review, Sara Kirk, school district | Comments Off

Are You Ready for PPP 2.0?

Posted on December 30, 2020 by Diane Bradley

On December 27, 2020 a new COVID-19 relief bill was signed into law. This relief bill contains a new version of the Paycheck Protection Program (PPP) and some updates to the old PPP that are important as well. New funding … read more >

Posted in Articles | Tagged Arizona, COVID-19, CPA, loan, Michael Lauzon, nonprofit, not-for-profit, NPO, paycheck protection program, Payroll Protection Program, PPP | Comments Off

Is This Contribution Conditional?

Posted on December 16, 2020 by Diane Bradley

Under the revenue recognition Accounting Standards Update No. 2018-08 – Clarifying the Scope and the Accounting Guidance for Contributions, a conditional contribution cannot be recognized until barriers are overcome. But what are the characteristics of a conditional contribution under the … read more >

Posted in Articles | Tagged accounting, Arizona, barriers, conditional, contributions, CPA, donors, FASB, Kara Curtis, nonprofit, NPO | Comments Off

How to Protect Your District from the Three Most Common IT Audit Findings

Posted on October 22, 2020 by Diane Bradley

We have entered 2020, a new decade which seems to revolve around information technology (IT). As with the rest of the working world, audit requirements and test work over IT are growing at a rapid pace. The IT portion of … read more >

Posted in Articles | Tagged Arizona, Emily Powell, information technology, internal controls, IT audit, school district, USFR | Comments Off

Arizona Election Law and How School Districts are Impacted

Posted on September 23, 2020 by Diane Bradley

Election season is upon us once more and with it, endless campaign advertisements, televised rallies and speeches, and those lawn signs that end up on every intersection in town. For most people, discussing politics in the workplace is, at the … read more >

Posted in Articles | Tagged Arizona, election law, guidance, guidelines, public school, rules, school district | Comments Off

Managing Operating Reserves

Posted on September 1, 2020 by Diane Bradley

When the Financial Accounting Standards Board recently released Accounting Standards Update No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, most of the attention was given to the changes made in net asset classifications. Many organizations devoted minimal time to … read more >

Posted in Articles | Tagged accounting, Arizona, FASB, Jim Rebenar, nonprofit, NPO, operating reserves, savings | Comments Off

What to Know About the Change in the Classification of Agency Funds (Student Activities Funds)

Posted on July 29, 2020 by Diane Bradley

A few years ago, the Governmental Accounting Standards Board (GASB) issued Statement No. 84, Fiduciary Activities. The statement established criteria for identifying fiduciary activities, with a focus on control of the assets and beneficiaries of the activities; additionally, the statement … read more >

Posted in Articles | Tagged agency funds, Arizona, Chris Heinfeld, Christopher Heinfeld, financial reporting, GASB, government, school district, special revenue funds, student activities, USFR | Comments Off

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