Local governments are beginning to implement GASB Statement No. 83 on asset retirement obligations, or ARO’s, which is effective for reporting periods beginning after June 15, 2018. To help local governments begin, the Center for Government Innovation has published a new resource to help you identify asset retirement obligations in Washington.… CONTINUE READING →
The Audit Connection Blog
Results for: reporting
Are you reporting property, sales and other taxes in the correct period? Our Office recently found that some local governments were reporting these taxes when the cash was received, causing errors on the financial statements.… CONTINUE READING →
Spring will be here before you know it, and so will the annual report deadline for local governments whose fiscal year ends December 31, 2018. For those governments, annual reports are due May 30, 2019. State law does not provide for any exceptions, so we recommend starting the filing process early, and we are available to help.… CONTINUE READING →
Last fall, we posted an article strongly encouraging governments to start evaluating activities that might be classified as fiduciary activities under the Governmental Accounting Standards Board’s (GASB) recently issued Statement No. 84. The changes to fiduciary activity reporting are right around the corner – effective for reporting periods beginning after December 15, 2018 – and affect not only governments that report under generally accepted accounting principles, but those that report using the cash-basis accounting model as well.… 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.