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MRSC Insight Blog


Posts for Financial Reporting

New Guidance in Accounting for and Reporting Leases

New Guidance in Accounting for and Reporting Leases

November 4, 2019 by Mike Bailey
Category: Accounting , Revenues , Financial Reporting

This blog post looks at the new standards the Governmental Accounting Standards Board has released regarding accounting for and reporting leases. 

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The Annual Financial Report for 2018 (Part 2)

The Annual Financial Report for 2018 (Part 2)

February 27, 2019 by Toni Nelson
Category: Financial Reporting

This 2-part series highlights changes to the annual update to accounting and reporting requirements (BARS Alerts & Overview of Significant Changes). This post focuses on changes to Notes to Financials and in the Supplemental Schedules.

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​The Annual Financial Report for 2018 (Part 1)

​The Annual Financial Report for 2018 (Part 1)

February 25, 2019 by Toni Nelson
Category: Financial Reporting

In this 2-part series, Financial Consultant Toni Nelson will be highlighting changes to the annual update to accounting and reporting requirements (BARS Alerts & Overview of Significant Changes) from the State Auditor's Office. Part 1 focuses on changes to the Chart of Accounts. 

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Year End is a Busy Time for Finance

Year End is a Busy Time for Finance

January 4, 2019 by Toni Nelson
Category: Financial Reporting

This article reviews some of the most important year-end reporting requirements and deadlines, including the "open period" and federal W-2, W-3, and 1099-MISC reporting requirements.

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The Annual Financial Report for 2017

The Annual Financial Report for 2017

February 12, 2018 by Toni Nelson
Category: Financial Reporting

In this post, Finance Consultant Toni Nelson reviews the changes made by the State Auditor’s Office (SAO) in its annual update to BARS, with a focus on the new annual financial reporting requirements.

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2016 Annual Financial Report: What’s new and what’s changed?

2016 Annual Financial Report: What’s new and what’s changed?

March 22, 2017 by Toni Nelson
Category: Financial Reporting

Changes to the 2016 Annual Financial Report that affect both cash basis- and GAAP-reporting entities.This blog post address changes to common areas that will impact both cash and GAAP reporting as well as addressing new areas that will only impact cash-basis reporting. 

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What’s New for the 2015 Annual Financial Report?

What’s New for the 2015 Annual Financial Report?

March 30, 2016 by Toni Nelson
Category: Financial Reporting

The deadline for filing your 2015 financial report is May 29. Learn what's new in the requirements for this year.

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Beyond the Annual Financial Report: Communicating Your Agency

Beyond the Annual Financial Report: Communicating Your Agency's Financial Data

May 12, 2015 by Toni Nelson
Category: Financial Reporting

As financial reporting to the State Auditor's Office wraps up, Toni Nelson explains some other types of financial reports you should be providing to management and elected officials.

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Info and Checklists to Get Your Annual Financial Report Done Accurately and On Time

Info and Checklists to Get Your Annual Financial Report Done Accurately and On Time

March 23, 2015 by Toni Nelson
Category: Financial Reporting

Yearend issues are behind us and it’s time to focus on the preparation and submittal of the annual financial report to the Washington State Auditor’s Office (SAO).  RCW 43.09.230 requires all local government entities to submit a report to the SAO within 150 days from the end of the fiscal period which makes t...

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Award Program for Small Entities

April 1, 2013 by Mike Bailey
Category: Finance Advisor , Financial Reporting

In this column I wanted to pass along news that I'm hoping will be an opportunity for many of our smaller governments here in Washington State to get outside recognition for their financial reporting work. The Government Finance Officers Association has had a financial reporting recognition program in place for decades and many of our larger governments have been able to benefit from it. While I...

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