The straight line

The fiscal year ended June 30, 2026 will see the implementation of two new Governmental Accounting Standards Board (GASB) Statements and a revision to the Uniform Guidance. The most significant changes will come with the implementation of GASB Statement No. 103 Financial Reporting Model Improvements. This statement was designed to clarify operating and nonoperating items...

Jim English, CPA, Partner TOUGHER TIMES FOR COOPS! 2025 was down year for most coops. Those coops that managed to be profitable saw decreased earnings, while many coops recorded local or in some cases overall losses. Commodity prices continued trending downward leading to a noticeable drop in overall sales revenue.  Unlike in 2024, earnings seemed...

Greg Cargin, CPA, Partner While the past year proved to be very challenging for many of our clients, there were still some good stories to tell. As we look ahead to 2026, it’s important to reflect on recent trends and consider what will shape the year ahead. Many of the factors that influenced 2025 remain...

Blake Miller, CPA, CFE, Partner Deferred Compensation arrangements are often entered into with executive leadership to enhance their compensation package and keep key individuals at the Company.  These contracts defer compensation today to be paid out sometime in the future and thus also deferring the tax obligation until received by the individual.   Many times, the...

Brian Sullivan, CPA, Partner As we continue to monitor new tax legislation and how it affects your operations, I want to highlight key provisions of the OBBBA that have direct implications for credit unions, especially in the auto-lending space. Specifically, I’ll cover the new deduction for auto-loan interest and the closely related reporting obligation under...

Matt Gardiner, CPA, CFE, Partner Audits of Employee Benefit Plans Many organizations sponsor 401(k) or defined benefits plans that require annual audits under the Employee Retirement Income Security Act (ERISA). These audits are highly specialized but benefit greatly from a deep understanding of the plan sponsor’s operations, people, and financial reporting. Our firm performs both...