Single Audit Requirements
Revenue Shortfalls Continue to Impact Local Governments Budgets, Decrease Expected in Intergovernmental Funding
CB&H’s Inaugural Government Benchmarking Study highlights concerns with budget shortfalls and intergovernmental dependency Depressed economic conditions and rising federal deficits continue to have a profound impact on local governmental entities, according to a new survey  of government financial and operational leaders throughout the Southeast. Yet despite revenue shortfalls, 59% of respondents state that the position of their board/commission on property tax is to maintain the current tax rate and reduce the cost of services. Only 3% plan to raise taxes in order to balance the budget. The study, sponsored by Cherry, Bekaert & Holland, L.L.P. (CB&H) , identifies a number of significant trends on a wide range of timely. Read More.
CB&H’s Troy Manning to Speak at Florida Audit Forum
Cherry, Bekaert & Holland, L.L.P. (CB&H) is pleased to announce that Troy Manning , a Partner with the Firm’s Government Services Industry Group , will be speaking at the Florida Audit Forum , scheduled for Friday, August 14 at The Rusty Pelican . The Florida Audit Form is an organization of government audit professionals. Troy will present jointly with Melinda Miguel , the Chief Inspector General for the State of Florida on the Federal Single Audit and the American Recovery and Reinvestment Act . Based in CB&H’s Tampa office , Troy has more than 20 years of experience in providing audit, accounting and advisory services to local governments and not-for-profit organizations. As a Certified Public Accountant, Troy is a member of the American Institute of Certified Public Accountants (AICPA) and the Florida Institute of Certified Public Accountants (FICPA) , where she serves on the. Read More.
CB&H Government Seminars Scheduled for Charlotte and Morrisville
Cherry, Bekaert & Holland’s Government Services Group has announced two new all-day seminars to discuss several key issues of concern to state and local government professionals. Topics scheduled to be covered include to following: Stimulus Money & Single Audit Changes GASB Update LGC Update Risk Assessment & Fraud CAFR Issues Reporting Intergovernmental Financial Dependency
OMB A-133 Compliance Supplement for 2009 Provides Additional ARRA Guidance
On May 26, 2009, the White House Office of Management and Budget (OMB) released the 2009 OMB Circular A-133 Compliance Supplement (the Supplement) effective for audits of fiscal years beginning after June 30, 2008, superseding the 2008 OMB Circular A-133 Compliance Supplement . The new annual Supplement contains information updated to reflect new programs, deleted programs and modified program requirements. Some of the highlights of the regular supplement include:
GAO Stresses Accountability Issues in First Required Bimonthly Review of ARRA Funds
As required by the American Recovery and Reinvestment Act of 2009 (ARRA) , the Government Accountability Office (GAO) last week issued the first in a series of bimonthly reports reviewing the use of ARRA funds by state and local governments. In the report, which is focused on 16 states and the District of Columbia, the GAO details how state and local governments plan to use ARRA funds, their various approaches to accountability, and how they will evaluate the impact of ARRA funds received. The GAO estimates that the majority of ARRA funds allocated to state and local governments will be through health, transportation and education programs. Click here to read a summary of the. Read More.
NASACT Rolls Out ARRA Implementation Resources and Preliminary Risk Analysis
The National Association of State Auditors, Comptrollers and Treasurers (NASACT) provides a detailed list of resources on their web site designed to help answer some of the many questions that state financial management officials may have about the American Recovery and Reinvestment Act of 2009 (ARRA) . In addition, NASACT has also identified several key risk factors associated with the implementation of ARRA, including issues related to cost management, accountability, transparency, procurement, financial management, and single audit compliance. Click here to read a summary of these findings.