The straight line

Category Archives: Municipalities

Impact of Stimulus Funds on Single Audit

About half of the $770 billion of the economic stimulus funds will be received by governmental bodies and not-for-profit organizations as grant funds, requiring these entities to have single audits performed on the Federal programs

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Postemployment Benefit Reporting and GASB No.45

Governmental Accounting Standards Board Statement No.45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, issued in 2004, requires governments to recognize and report the cost of postemployment benefits (OPEB) when they are earned, regardless of when they are paid.

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