Financial Statement Preparation

 

State and local government, tribal government, and non-profit organizations that receive Federal grant awards are typically required to have a financial statement and single audit performed. This requirement necessitates the preparation of a series of documents, including the financial statements, Schedule of Expenditures of Federal Awards (SEFA), footnote disclosures, and other supplementary information in accordance with generally accepted governmental accounting standards (GAGAS).  

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Government finance and accounting leadership must understand and stay current on Governmental Accounting Standards Board (GASB) pronouncements in order to be compliant with reporting standards.  This includes determination of applicability and timing, and interpretation and implementation of any required changes.   Due to static and even shrinking budgets, many governments do not have the necessary resources to stay current with new pronouncements and implement changes while keeping pace with demands of daily operations.   

   

​Our team has significant experience in preparing financial statements, SEFA’s, footnote disclosures, and other supplementary information in accordance with GAGAS.  We have assisted clients with assessing and implementing new GASB pronouncements in order to stay compliant.  We understand the importance of submitting timely financial statement reports in order to maintain funding levels and keep programs operating.  Our team can help your organization prepare compliant financial statements, so your team can continue their mission of serving the people of their jurisdiction.