We know a strong internal control system is important for accurate financial reporting. Not sure where to start? Don't worry ― we have a tool for cash basis reporters that can help.
This presentation tells the story of Washington's Unemployment Insurance program during the COVID-19 pandemic in 2020, from the first American coronavirus patient diagnosed January 21 through the end of the year.
We curated this latest issue of our regular newsletter to make it easy to find key information from this blog, all in one place! Please download or share with colleagues who might find it valuable. Click on the image below to see articles regarding updates to reporting deadlines, information on annual report filing and more.
The most common OPEB benefit provided by some local governments is through the Public Employees Benefits Board (PEBB) plan. This plan provides OPEB benefits through implicit and explicit rate subsidies for retirees. Even though retirees pay 100 percent of their premiums, that payment is not the full cost of the benefits. Retirees pay less because participating employers like you pay a little extra. That little extra is OPEB.
We do not participate in the state's pension plans. Can our retirees get this benefit when they retire?
Sales Tax – Oh the stories FIT data can tell!
Sales tax represents about a quarter of all city and town revenues, but did you know that three Washington cities or towns derive more than 50 percent of their total revenues from sales tax? Can you guess which ones and why? Unlock the answers to these questions and a world of other sales tax data stories by opening our interactive infographic based on data from the Financial Intelligence Tool (FIT).
The Financial Intelligence Tool (FIT) refreshes quarterly with data submitted by local governments.
This most recent refresh added 23 more filers and brings the total local government data presented in FIT to 95 percent for fiscal year 2019.
A list of governments that have or have not filed can be found via a link at the bottom of any FIT page.
Fiscal year 2020 data is set to publish on June 30, 2021, which is 30 days after the last filing due date.
Today, the Office of the Washington State Auditor issued reports declaring three small local governments unauditable, bringing the total of such reports to seven for 2020. The State Auditor's Office (SAO) also notified local counties of these unauditable governments, a step toward halting their use of tax money, restricting payments for expenditures, and their possible dissolution under a new state law.
Updated: March 26, 2021, most recently updated: August 4, 2021
Over time, there have been a number of changes to the guidance for single audit due dates and information to be reported on the Schedule of Expenditures of Federal Awards (SEFA).
The GAAP and Cash Basis BARS Manuals have been updated!