MRSC Insight Blog

Posts for Finance Advisor

Keeping Internal Controls Fresh in Your Organization

March 1, 2012 by Tracey Dunlap
Category: Finance Advisor

Kirkland tries to keep the issue of internal controls before management and staff in a variety of ways, including periodic “internal control moments” at senior management meetings, ad hoc training on specific topics, inviting departments with issues to the exit conference, etc. The city recently completed a large annexation and we decided that this would be a great time to do some organization-wide training.

Year-End is a good time to get a financial "checkup"

March 1, 2012 by Mike Bailey
Category: Finance Advisor , Investments

The end of the year approaches. I know because my budget is in the capable hands of our city council. Another way I know is that we have started our annual year-end "checkup." In this article, we will share some ideas about how you can use the "slower time" around the holidays to review some important financial vital signs.

Who Makes the City and County Accounting Rules We Must Follow?

March 1, 2012 by Mike Bailey
Category: Finance Advisor

RCW 43.09.200 says the Washington State Auditor shall prescribe a uniform system of accounting and reporting for all local governments. This is not totally unique in the country as a few other states have a statewide office establishing the accounting rules. What is completely unique is that the State Auditor then conducts the audits of all these local governments.

Finance 101

March 1, 2012 by Toni Nelson
Category: Finance Advisor

In anticipation of the coming budget season, we thought a discussion on the characteristics that make governmental accounting unique would be helpful.

Property Taxes in Washington

March 1, 2012 by Glenn Olson
Category: Finance Advisor

This article explains the basics of how property assessment and taxes are calculated, and why a large increase in assessment may not mean a large increase in taxes.

Financial Statements - GAAP or Cash Basis? You Decide

March 1, 2012 by Mike Bailey
Category: Finance Advisor

Is GAAP (generally accepted accounting principles) was better for local governments than the non-GAAP cash basis alternative offered by the Washington State Auditor's Office? This blog post explores the issues to consider.