Investments are an important part of managing public funds—but they can also be one of the most confusing areas of accounting for local governments. Between pooled cash, fair value adjustments, and detailed disclosures, it’s easy for this area to get overlooked until year-end. The good news? With the right processes in place, investment accounting doesn’t... The post Investments Made Simple: What Every Local Government Should Know About Reconciling, Reporting, and Preparing for Audit ap...| LSL CPAs
Government finance never stands still—just as teams are wrapping up implementations of recent standards like GASB 87 and 96, new updates are here. GASB 102, 103, and 104 bring important changes to risk disclosures, financial reporting models, and capital asset notes. While the technical language can feel overwhelming, these updates are designed to improve transparency,... The post Making Sense of GASB 102, 103, and 104: What’s Changing and How to Prepare appeared first on LSL CPAs.| LSL CPAs
In April 2024, the Office of Management & Budget (OMB) released the most significant revisions to the Uniform Guidance in a decade. While the rules officially took effect for new awards on October 1, 2024, the impact is only beginning to hit local government finance departments in 2025—and will be even more visible in 2026... The post Uniform Guidance Revisions in Effect: Key Impacts for Local Government Finance Departments appeared first on LSL CPAs.| LSL CPAs