Common GASB Reporting Mistakes and How to Avoid Them
For state and local governments, accurate financial reporting plays an important role in maintaining transparency, accountability, and public trust. Yet even experienced finance teams can encounter challenges when navigating Governmental Accounting Standards Board (GASB) requirements. Between evolving standards, complex transactions, and year-end deadlines, rep
Trump Accounts: What Families and Employers Need to Know
A new savings option for children is drawing attention from families and employers alike. Created by federal tax legislation enacted in 2025, Trump Accounts began accepting contributions in July 2026. Along with providing a way to build long-term savings, these accounts give employers a new way to contribute to the financial futures of employees’ children.&nb
A Beginner’s Guide to GASB Standards for New Finance Directors
Stepping into a finance director role for a city, county, school district, or other public entity comes with a long list of responsibilities. Among the most important is understanding how Governmental Accounting Standards Board standards shape financial reporting. GASB establishes accounting and financial reporting standards for U.S. state and local governments
Common Uniform Guidance Audit Issues for Smaller Organizations
Federal funding can create meaningful opportunities for smaller organizations, but it also brings added responsibility. The Uniform Guidance, found in 2 CFR Part 200, sets government-wide rules for federal awards, including administrative requirements, cost principles, and audit requirements. For smaller entities, the challenge is often not a lack of effort. It
Year-End Audit Prep: Reducing Bottlenecks Before the Auditors Arrive
For many government finance teams, year-end audit prep begins long before auditors arrive for fieldwork. The quality of year-end preparation can influence how quickly questions are resolved, how many follow-up requests are needed, and how smoothly the overall process moves. A well-organized audit file does more than support compliance. It helps finance teams
Preparing Early for GASB 105: Subsequent Events and Year-End Disclosure Discipline
GASB Statement No. 105, Subsequent Events, is effective for fiscal years beginning after June 15, 2026, and all reporting periods thereafter. While that date may feel distant, the practical work of preparing begins much earlier. The standard defines subsequent events as transactions or other events that occur after the date of the financial statements but [&hel
Fraud Risks in Public Sector Entities: A Conversation with Matt Laughlin
Public sector organizations are responsible for serving their communities while protecting the resources entrusted to them. With complex funding sources, decentralized operations, and evolving compliance requirements, fraud risk can arise in ways that are not always easy to spot. To better understand where risks commonly appear and how organizations can respo
Internal Controls in the Public Sector: A Practical Approach to Risk Reduction
Government agencies operate under constant scrutiny, with expectations for transparency, accountability, and responsible stewardship of public resources. As regulatory requirements evolve and operational complexity increases, internal controls play a critical role in maintaining trust and reducing risk. Strengthening these controls is not simply a complian
Leveraging Technology for Real-Time Public Financial Reporting
Public sector organizations are under increasing pressure to deliver timely, transparent financial information. Stakeholders expect more than periodic reports. They want clear, up-to-date insight into how funds are being managed and allocated. Advances in technology are making this shift not only possible, but practical. Moving Beyond Period-End Reporting
Building Public Trust Through Transparent Government Financial Statements
Government financial statements have always served as a cornerstone of public accountability. Today, however, expectations have shifted. Citizens, stakeholders, and oversight bodies are no longer satisfied with compliance alone. They want clear, timely, and meaningful financial information that builds confidence in how public resources are managed. Transpare