Updated Annual Financial Report (AFR) for Arizona School Districts

With the Annual Financial Report due next week, make sure to have the most up to date form by visiting http://www.auditorgen.state.az.us/forms_schooldistrict.htm.  The Arizona Auditor General recently released Memo 256 with a few updates to the form. In the memo, it explains the major changes that have occurred from last year’s form including the removal of …

Keep Reading

Determining if July Debt Payments should be Accrued in Governmental Funds

Is your government about to obtain new debt in their governmental funds? If there is a payment in July following fiscal year end; should the payment be recorded in the current year or next fiscal year? Under cash basis, there should not be an expenditure recorded until amounts are due and payable; however there is …

Keep Reading

What Fees are being Charged for your 401(k) Investment Offerings?

If you have hired an investment consultant to assist your plan participants in choosing the funds offered in your 401(k) plan, you probably feel comfortable with your investment options, even more so if you periodically replace poor performing funds with funds that have more potential. These are good practices; however, the responsibility of the plan …

Keep Reading