Check fraud is a common financial crime here in Washington and nationwide. According to the American Bankers Association, check fraud accounted for 32 percent of the banking industry’s losses in 2015.
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From our friends at MRSC: Mike Kaser, IS Director for the City of Mercer Island, weighs in on protecting local governments from cyber attack. You can read the original here.
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“Piggybacking” refers to one local government making purchases from contracts awarded by another government or group of governments via an interlocal agreement or contract.
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We’re already halfway through 2017, and 2018 is quickly approaching! GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, is effective for fiscal years ending in 2018.
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The Government Accounting Standards Board (GASB) recently issued a new standard, GASB Statement 83, to provide accounting guidance on asset retirement obligations (AROs).
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Local governments are required to submit an annual financial report within 150 days after their fiscal year end under state law (RCW 43.09.230). Exhibit 1 illustrates that the number of governments meeting this requirement has increased for the fourth consecutive year. Exhibit 2 illustrates that 228 of the 302 governments that missed the filing deadline also missed the deadline in 2015.
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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.
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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!
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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.
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School districts have asked the State Auditor’s Office to let them know in advance the areas they can expect auditors to emphasize in upcoming audits.
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