Every year, we update the cash basis financial statement checklist so that you have the latest guidance as you prepare your government’s annual report filing package. In addition to incorporating the most recent BARS changes, we also monitor audit results and make additional adjustments to help you check for common errors.
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The number of unauditable governments in Washington has dropped dramatically, leaving only eight that have failed to provide basic financial records and cooperate with an audit by the Office of the Washington State Auditor.
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The City of Tenino lost $280,309 in public funds after an employee sent the money out of state using a common electronic payment method, according to a fraud report released today by the Office of the Washington State Auditor (SAO).
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In the spring of 2020, SAO changed the way that cash-basis local governments were to report their cash and investment balances. Gone away were reserved and unreserved classifications and in their place came unassigned, assigned, committed, restricted, and unspendable. This meant a new task was at hand—calculating the amount of total ending cash and investments that fits into these new classifications at the end of each fiscal year. This article helps you understand how a local government’s accounting policies may dictate how to calculate these amounts.
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Over the course of this series, we’ve explored the five core behaviors—as described in the Kouzes and Posner Leadership Challenge (K&P)—that people can use to become better leaders regardless of their management style or personality. These core behaviors are also the foundation for building a Lean culture in your organization.
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With the new year comes new annual report filings. Our second quarterly update of the 2020 fiscal year financial data in the Financial Intelligence Tool (FIT) includes more governments so you can see where public money comes from and where it goes.
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As the COVID-19 pandemic rolled on through 2021, Washington’s public auditors kept up their essential work. The Office of the Washington State Auditor continued working closely—and remotely—with local governments and state agencies to ensure accountability and transparency for public resources.
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The “Overview of Changes” section contains descriptions of the changes and links to the appropriate sections of the manuals. Please refer to the “Alerts and Changes” tab for determining which revisions might affect your 2021 annual reporting.
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As we come to the end of 2021, we at SAO want to thank you for your commitment to accountability and transparency. We know it takes people like you, people who care and put in the effort, to make good government happen.
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Do you remember the scene in the holiday classic “It’s a Wonderful Life,” where George’s Uncle Billy loses an $8,000 deposit and it nearly results in the ruin of the family’s business? Absentminded Uncle Billy had somehow lost or misplaced the money on his way to the bank. In today’s dollars, that deposit would be equivalent to about $96,000.
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