Creating an Error-Free Budget

Alright, I’ll admit the title of this article is rather deceiving. Unless you’re just a naturally lucky accountant or a psychic, chances are you will have errors in your budget causing you to go over or under the projected budgeted amounts from the beginning of the year. I wish I had better news for you; …

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FY2016 School District Budget Changes

Each year the Auditor General (AG) makes changes to the School District Annual Budget. We know that it can be hard to keep up with all of the budget changes; therefore, we have summarized the list of those changes made to the FY2016 School District Budget below: Cover – Additional Information Added lines for the …

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Who is the GFOA, and What Do They Do?

The Government Finance Officers Association (GFOA) as identified in their mission statement is an organization that was established to assist in the professional management of governments by developing and identifying financial policies and best practices through education, training, facilitation of member leadership and networking. The objectives of the GFOA are to offer expert knowledge, education, …

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How to Make Your Auditor Smile (Or Getting Organized for Your Audit)

Most financial staff members do not look forward to their annual financial audit.  I have met an exception to this, however, and here was her method for going into the audit feeling comfortable and confident.  Let’s refer to this individual as Sally. Sally began her audit preparation by using her normal monthly closing procedures which …

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A Look into the Importance of Budgets for Governments and Not-for-Profits

Government and not-for-profit budgets are far more important than those for businesses because they are expressions of public policy and often carry the authority of law, preventing public officials from spending outside their budgetary authority.  The increased importance of budgets is reflected in government financial reports by a required report comparing budgeted and actual amounts. …

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