News & Insights

2025 School Update: Section 147g MPSERS 3% Health Care Premium Subsidy

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Section 147g allocations have been based on prior year data and were included in districts’ February 2025 State School Aid payments.  Districts should begin reimbursing eligible employees with their actual, […]

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2025 School Update: GASB 101 Inflow and Outflow

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GASB Statement No. 101, Compensated Absences, requires that liabilities for compensated absences be recognized for (1) leave that has not been used, and (2) leave that has been used but […]

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FAQs About Reporting Subsequent Events

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Subsequent events are in the spotlight these days. The Public Company Accounting Oversight Board (PCAOB) recently initiated a project to modernize outdated auditing standards related to these events. The PCAOB […]

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Best Practices for Managing Capital Assets in Local Government

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By 2003, local governments began reporting capital assets on their financial statements after implementing the Government Accounting Standards Board (GASB) Statement 34. This requirement was intended to help users of […]

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Fraud Risk Assessment: What Auditors Watch For

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Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here are some answers […]

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