The Audit Connection Blog - Page 5 of 45 - Office of the Washington State Auditor

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Stay on top of piggybacking requirements with SAO’s updated guide

May 11, 2022

Piggybacking is the ability to use another government’s bid award without going through your own competitive process. It can be complicated, which is why we have updated our guide—Piggybacking under Washington State Law—to address your most common questions and alert you to changes in our guidance. Don’t worry: It still includes a step-by-step approach to piggybacking, as well as an optional checklist for you to use!

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SAO assistant director DeViney takes leadership role on national board, becomes member of GASB advisory committee

May 9, 2022

A longtime employee of the Office of the Washington State Auditor (SAO) has been appointed chair of a national board that advocates for the improvement of government accounting and financial reporting standards.

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Getting ready to file by May 30? Keep your annual report preparation on track with a checklist

May 4, 2022

Some of our audit findings are the result of someone forgetting an important step when preparing the financial statements. Using our checklists is a great way to ensure that you don’t miss a step when preparing your annual financial reports.

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What you need to know about audits and HB 1660, which affects how districts use ASB funds

May 3, 2022

Since the state Legislature approved House Bill 1660 in June 2020, school districts across Washington have been examining the law to understand what is required of them and how to manage their Associated Student Body (ASB) funds. Here’s a quick refresher about the law, who’s responsible for setting the criteria, and how SAO plans to audit this area.

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New rules for accounting and reporting on leases and SBITAs

May 3, 2022

Accounting and reporting guidance for leases and subscription-based information technology arrangements (SBITAs) are changing for school districts and charter schools. Before this change, districts and charters used a somewhat subjective test to determine if a lease should be classified as “operating” or “capital.” Under the new guidance, all leases (with a few stated exceptions) are just leases, eliminating “operating” leases. The primary goal of the new accounting method is to increase comparability across governments; it also gives financial statement users better, more complete information by establishing a single model for lease accounting.

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How charter and tribal schools fare under public audit

May 3, 2022

Just like established public schools, charter and tribal schools are subject to public audit. In the 2020-21 school year, Washington’s charter and tribal schools served more than 5,600 students. SAO audits the public funding that each type of school receives. This article outlines how each type of school fares under public audit.

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Concerned about possible errors on your SEFA? SAO is here to help

May 3, 2022

Washington’s governments encountered special audit circumstances this year when it came to preparing the Schedule of Expenditures of Federal Awards (SEFA). School districts were no different—and many of you found yourselves facing a federal audit for the first time because the funding you received related to the COVID-19 pandemic met or exceeded the federal government’s threshold to require an audit.

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#Gov101 series returns with a look at public utility districts

April 28, 2022

We’re firing up our #Gov101 series again! This time, we’re featuring public utility districts, also known as PUDs. For the next few weeks, we’ll tell you all about these special purpose districts: how they’re governed, how they get and spend public dollars, and how you can participate at your local PUD.

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SAO’s latest and greatest resources for schools

April 27, 2022

We’re excited to see you in person at this year’s annual WASBO conference. Since we last saw you—virtually in 2021—we’ve updated some of your favorite resources, like the school’s financial statement review and preparation checklist, and made some changes to our piggybacking best practices guide. We’ve also launched new guides and checklists for payroll and accounts payable that you won’t want to miss. And with the influx of federal money to school districts, we’ve created a new tool to help with your federal grant programs. Stop by our booth to learn more about these resources!

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