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- Do Your Due Diligence!
- What Happens When Cash Isn’t Reconciled
- Adjacent Ways Projects: Capitalize or Expense?
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- Physical Inventory Considerations
- I Submitted a December Budget Revision, Now What?
Tag Archives: school district
Understanding GASB Statement No. 102: A New Standard for Government Risk Disclosures
When most people think about government finances, they picture massive budgets, taxpayer funding, and line-item spending on everything from roads to education. But behind the scenes, there’s another critical piece of the puzzle: risk. That’s where GASB Statement No. 102: … read more
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Tagged Arizona, Cristina Oropeza, financial statements, GASB, GASB 102, risk disclosure, school district
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GASB Statement No. 100 – Part II
In the previous article here, we discussed an overview of GASB Statement No. 100. However, in this article, we will focus on the logistics of a change within the financial reporting entity caused by a change in major funds, and … read more
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Tagged accounting, Christopher Heinfeld, financial statements, GASB, government, major funds, school district
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GASB 103: Turning Numbers into Digestible Narrative in Your MD&A
Given my chosen career, I read a lot of financial statements, and I can tell you firsthand that some are more interesting than others. While the statements alone can paint a picture, it is the story that accompanies the statements … read more
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Tagged ACFR, Arizona, audit report, financial statements, GASB, government, Jennifer Shields, MD&A, public entities, school district
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Managing Grant Balances
Arizona school districts receive various federal and state grants each year. Almost all these grants operate on a cost reimbursement basis, meaning funds are expended by the district on allowable and budgeted costs, and then a reimbursement request is submitted … read more
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Tagged accounting, Arizona, compliance, financial statements, grants, Kristen Conway, school district, USFR, year-end balance
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Why Audits Are Important
Oh no, did the IRS or a governing body send you a letter saying you need an audit and now you don’t know what to do? An audit is stereotypically required because an entity did something wrong and the IRS … read more
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Tagged ADE, Arizona, audit, Bryan Ruprecht, compliance, financial statement, GASB, goverment, school district
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Designing and Maintaining Effective Documented Procedures
Have you had an employee leave their position suddenly? Have you needed to reevaluate a process to adhere to new rules or regulations? Have you received consistent findings for failing to demonstrate compliance with the same requirements in consecutive audits? … read more
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Tagged accounting, best pratices, business office, compliance, documented procedures, goverment, nonprofit, organization procedures, school district
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Indirect Costs – Fast Facts for Arizona School Districts
Indirect Cost Definition Indirect costs are expenditures that are necessary for an organization’s operations but are not easily associated with a specific grant project or program. Indirect Cost examples include: Utilities Liability Insurance Employee salaries and benefits Administrative supplies How … read more
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Tagged accounting, Alex Cooksey, Arizona, financial statements, indirect costs, school district
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