Author: Chad Welty

GASB 84 Implementation: Where does your entity stand?

Whether you prepare your financial statements using the cash basis or GAAP (generally accepted account principals) basis, the Government Accounting Standards Board (GASB) Statement No. 84 Fiduciary Activities will likely impact you.

House Bill 49 makes changes to Ohio's Current Agriculture Use Value, which will have ripple effects among public entities, among others. Read on to learn more.

Now is the time to dust off your tax abatement agreements and take steps to comply with the GASB's current tax abatement disclosures reporting standard.

Before you file your entity’s “unaudited” year-end financial statements, you are going to want to read up on important policy changes that were recently handed down by the Auditor of State (AOS). Read on for an overview.

In today’s world, fraud is everywhere. In business. At the bank. On the playing field. And unfortunately, it’s even in the schools. You’d like to believe it’s not happening in your school district (and hopefully it’s not), and you want to feel like you can trust your team. But the fact of the matter is … Continued

Surprise! Some surprises can be fun and exciting. Others, not so much. How excited would you be to see a representative of the Internal Revenue Service (IRS) or the Department of Labor (DOL) at your door? That’s not something anyone wants to deal with! Over the past few years, the IRS and DOL have been … Continued

For most local governments, the annual financial statement audit is as much a part of the yearly round of public finance as the approval of the operating budget. Despite its routine nature, however, the financial statement audit remains something of a mystery to most outside the auditing profession. Anyone entrusted with the responsibility for managing … Continued

Most charitable organizations in Ohio have already been required to register with the Ohio Attorney General’s (OAG) office under the Ohio Revised Code Section 1093.23-.33. Under an amended rule, qualifying booster clubs and parent-teacher associations (PTAs) will now be subject to register effective September 1, 2012. Qualifying organizations that have $25,000 or more in gross … Continued

Individual Development Accounts (IDAs) are matched savings accounts that enable low-income American families to save, build assets and enter the financial mainstream. IDAs reward the monthly savings of the working poor who are building toward purchasing an asset such as a first home, paying for post-secondary education or starting a small business. Accounts held in … Continued