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Tag Archives: financial reporting
USFR Account Changes for Equipment Thresholds
The Arizona Auditor General has recently updated the Chart of Accounts in the Uniform System of Financial Records for Arizona School Districts (USFR) to allow for easier federal reporting for capital purchases. This Chart of Accounts change is effective July … read more
Posted in Articles
Tagged Arizona, assets, compliance, equipment, Federal, financial reporting, financial statements, inventory, Kara Curtis, OMB, purchasing, school districts, USFR
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GASB “101” – An Introduction to How the GASB Issues New Statements
As a public accounting firm specializing in governmental accounting and auditing, we often share articles on accounting pronouncements issued by the Governmental Accounting Standards Board (GASB). Whenever a new GASB statement is issued, we often hear comments from our clients … read more
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Tagged ACFR, Arizona, audit, financial reporting, GASB, GASB statement, government, Jennifer Shields, school district
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Using AI for Communication in Government Finance
If you’ve been to an industry conference lately, read articles in professional publications, or been closely watching the news, you’ve undoubtedly heard of the transformative impact that artificial intelligence (AI) is having on how we work. AI can help us … read more
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Tagged accounting, AI, artificial intelligence, board presentation, finance, financial reporting, government, James Shankland
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Foundational Information for the Reporting of Assets by School Districts
Capital asset maintenance is an area often overlooked by school districts. Given the amount of background knowledge and manipulation required to ensure that assets are reported correctly, the task can seem intimidating. To successfully begin the process of maintaining asset … read more
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Tagged account codes, account coding, accounting, Arizona, capital assets, CPA, enterprise resource planning, ERP, financial reporting, Sarah Jacobs, school districts, USFR
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What to Know About the Change in the Classification of Agency Funds (Student Activities Funds)
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
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Tagged agency funds, Arizona, Chris Heinfeld, Christopher Heinfeld, financial reporting, GASB, government, school district, special revenue funds, student activities, USFR
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Recording Developer Contributions
When new development occurs within your community, typically significant infrastructure construction (roads, street lights, sidewalks) is necessary to make the development usable by citizens. However, as much as this infrastructure is a public good, municipal governments typically are not the … read more
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Tagged accounting, assets, construction, contributions, Development, financial reporting, infrastructure, Jared Young, land, municipalities
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Schools and School Districts: Getting Comfortable with E-rate Financial Reporting
A Bird’s-eye View Over the E-rate Process High-speed internet and telecommunications have become necessary to partake in modern society and gain access to information on education, job training, health care, and much more. Yet, if high broadband has become so … read more
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Tagged accounting, e-rate, financial reporting, internet, Mathilde Pioux, school district, technology
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