Government

Tuesday, 09 July 2013

Subrecipient Monitoring

Written by Stephen W. Blann, CPA, CGFM, CGMA

Governments and not-for-profit organizations frequently receive federal & state grants and may pass a portion of those grants through to other organizations. When that happens, certain compliance requirements attach to these organizations, which then are identified as "pass-through entities." While this article focuses specifically on federal pass-through grants, the concepts apply to non-federal grants, as well. When dealing with federally-funded grant programs (whether received directly from a federal agency or passed through another entity), grantees are subject to up to 14 separate compliance requirements as detailed in the OMB Circular A-133 Compliance Supplement...

Published in Government
Tuesday, 09 July 2013

Subrecipient or Vendor?

Written by Stephen W. Blann, CPA, CGFM, CGMA

An entity may receive federal funds as a recipient, a subrecipient and/or a vendor. Federal awards expended as a recipient or a subrecipient are generally subject to the single audit act, while payments received for goods or services provided as a vendor are generally not considered Federal awards. Unfortunately, the distinction between subrecipients and vendors isn't always clear. Ultimately, the decision comes down to the substance of the relationship rather than the form of the agreement, as evidenced by one or more of the following characteristics...

Published in Government
Friday, 29 March 2013

GASB's New Pension Standards

Written by Stephen W. Blann, CPA, CGFM, CGMA

BWD Magazine, Spring 2013 Sweeping changes may have dramatic effect In a move aimed at increasing financial transparency for state and local governments, the Government Accounting Standards board (GASB) recently made sweeping changes to the way public sector pension plans are accounted for by issuing Statements No. 67 and 68. The GASB uses such statements to set generally accepted accounting principles for state and local governments. GASB's approach Pension benefits are essentially a form of compensation earned by employees during their working lifetimes, and paid out after retirement...

Published in Government
Friday, 29 March 2013

GASB's New Pension Standards - Bonus Content

Written by Stephen W. Blann, CPA, CGFM, CGMA

BWD Magazine, Spring 2013 Sweeping changes may have a dramatic effect In a move aimed at increasing financial transparency for state and local governments, the Government Accounting Standards board (GASB) recently made sweeping changes to the way public sector pension plans are accounted for by issuing Statements No. 67 and 68. The GASB uses such statements to set generally accepted accounting principles for state and local governments. GASB's approach Pension benefits are essentially a form of compensation earned by employees during their working lifetimes, and paid out after retirement...

Published in Government
Friday, 29 October 2010

Understanding Public Accountability and Transparency

Written by Stephen W. Blann, CPA, CGFM, CGMA

BWD Magazine, Fall 2010 When it comes to demonstrating their stewardship of public resources, state and local governments face an interesting challenge. Even the smallest governments are subject to numerous funding sources and spending constraints. Additionally, they are accountable to a wide array of stakeholders - from citizens, to legislators, to creditors, to federal and state grantor agencies. In order to meet these disparate obligations, governments use fund accounting and produce "general purpose financial reports" to present information to all of these various constituents at once...

Published in Government
Monday, 31 May 2010

Governmental Budgeting in a Recession

Written by Stephen W. Blann, CPA, CGFM, CGMA

BWD Magazine, Spring 2010 As our state and national economies continue to suffer, organizations of every size and type are faced with the necessity to "do more with less." This is particularly true for governmental entities. Operating on revenue streams that are dependent on the prime economic indicators of personal/business income and property values, governments are often in the unenviable position of needing to provide increasing levels of critical public services on an ever diminishing budget. What’s more, the public often doesn't understand the complexities of the governmental budgeting process, which causes frustration for citizens and elected officials alike...

Published in Government
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