Recently, the Performance Center provided several resources on accounting for capital assets to help local governments with financial reporting. Another group of assets, which fall below a government’s capitalization threshold, should also be considered when establishing and evaluating asset policies and other internal controls. In Washington, we frequently refer to these as “small and attractive assets,” but they these could be described using different terminology. For example, the Government Finance Officers Association refers to them as “controlled capital-type items” in its best practice guidance.… CONTINUE READING →
The Audit Connection Blog
Results for: Local governments
As a part of our continuing commitment to making information about local government operations around the state more transparent and accessible, we have updated the look and feel of our Local Government Financial Reporting System, or LGFRS. Our Office has long provided unaudited financial data filed by local governments on our website via LGFRS. This same tool has a new look and is now even easier to use and understand.… CONTINUE READING →
Are you reporting your activities in the correct fund type? Local governments should analyze the services they are providing and determine if the fund types used are appropriate.
An enterprise fund is a fund that may be used to report any activity for which a fee is charged to external users for goods or services.… CONTINUE READING →
In 2013, the Legislature asked us to review ALE programs by auditing their finances and measuring student outcomes. Since then, we’ve audited the compliance of every ALE program in the state with more than 10 full-time students. We’ve visited ALE programs in person, interviewed educators and surveyed students and parents. The reports released today meet the intent of the Legislature’s request.… CONTINUE READING →
Are you unsure when the formal competitive bidding process is required?
The Performance Center recently released two new resources to help local governments determine when they must use a formal competitive bidding process for purchases or public works projects.… CONTINUE READING →
As local governments in Washington and across the United States deal with increasingly sophisticated attacks aimed at bringing down vital government services residents depend on, the need for careful controls and cyber security measures grows ever more crucial. At the Office of the Washington State Auditor, one of the resources we provide local governments with is helping them increase their cyber security in anticipation of just such events as outlined in the New York Times below. Are you interested in learning more about how we can help? Click here to read cyber security resources.… CONTINUE READING →
May is approaching quickly, and so is the annual report deadline for governments whose fiscal year ends December 31, 2017. These governments’ annual reports are due on
May 30, 2018. State law does not provide for any exceptions, so we are available to help you meet the deadline.
With the condition of infrastructure serving as a point of national discussion, useful life estimates for capital assets make for a timely accounting topic. Governments must maintain support for the useful life estimates they use for assets, and have a process to reassess the estimates periodically.… CONTINUE READING →
At the Office of the Washington State Auditor, one of our primary functions is to evaluate the finances of governments across the state. But did you know that what we do goes beyond the bottom line, and into the very heart of what makes a government function well and connect to its residents? This emotional connection is what is at the heart of our newest video, “For the Love of Kenmore.” It’s about helping local governments in Washington find, as Kenmore City Manager Rob Karlinsey puts it, “value beyond the purely financial.”… CONTINUE READING →
Large state agencies will get more in-depth reviews and smaller agencies will get more frequent accountability audits thanks to a boost in funding included in the supplemental state budget approved Thursday.The Office of the Washington State Auditor requested an additional $700,000 to support accountability audit work, and the Legislature agreed. Accountability audits are a specific type of audit that evaluate whether there is reasonable assurance the state agency adhered to applicable federal or state laws, regulations and its own policies and procedures, in addition to accounting for public resources.… CONTINUE READING →