(Repost from MRSC’s blog. Original available here.)
By Toni Nelson, MRSC
Financial policies are an essential component of any local government’s financial health, but financial policy needs vary considerably from jurisdiction to jurisdiction. Different types of entities (cities, towns, counties, and special purpose districts) have different needs depending on size, scope of activities, organizational and staffing structures, contractual and program structures, and the governing body’s values and priorities. A boilerplate, one-size-fits-all approach will not work – but how do you know what policies you need, or what approach is right for your jurisdiction?
Well, MRSC is here to help! Working in partnership with the State Auditor’s Office Local Government Performance Center, we’ve just launched a series of online resources to help local governments in Washington State develop and adopt effective financial policies and procedures, as well as complying with SAO’s policy requirements as currently prescribed by BARS and recommended during audits. Continue reading
We are excited to announce that for the first time in the history of the National State Auditor’s Association (NSAA) IT Conference, Washington is the host state! This year’s conference takes place October 3rd through 6th at the beautiful and modern Hotel Murano in Tacoma.
If you are a state or local government IT auditor (internal or external), this conference is for you. It will provide participants with valuable IT audit training at an affordable price. Plus, there will be ample opportunities to network with other IT auditors from across the country. Don’t worry if you haven’t yet had much experience in IT auditing–the trainings are designed to span the spectrum of experience.
Be sure to check out NSAA’s website for more information, like a draft agenda when it becomes available. You can also check out the event page on Facebook!
Since the original issuance of Governmental Accounting Standards Board (GASB) Statement 34 in 1999, the Office of the Washington State Auditor has found the resulting financial statement presentations to be unnecessarily complex, less timely and more costly for state and local governments to prepare and have audited. These presentations are also more challenging to understand.
Financial statements prepared by state and local government entities in the United States are longer than those prepared by other organizations in the United States and around the world, due to the use of different accounting methods (e.g. modified-accrual and full-accrual) within the presentation.