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MRSC Insight Blog


Posts for Accounting

No More Pennies for Your Thoughts

April 6, 2026  by  Eric Lowell
Category:  Accounting ,  New Legislation and Regulations

After the U.S. Department of the Treasury stopped printing pennies in November 2025, many had questions about how this would impact cash transactions. New guidance and recent state-based legislation addresses how cash transactions can be properly rounded up or down. 

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What Employers Should Know About the “No Tax on Overtime” Provisions

November 19, 2025  by  Julie Nicoll
Category:  Accounting ,  Fair Labor Standards Act

The “no tax on overtime” provisions of the One Big Beautiful Bill Act include an employee tax deduction, but employers must provide additional information for tax reporting purposes. Learn how to plan for these changes impacting the tax years 2025 through 2028.

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Interfund Loans: Can We Really Borrow Money from Ourselves?

November 12, 2025  by  Cheryl Grant
Category:  Accounting

Used for cash flow gaps, pre-grant expenses, or equipment buys, interfund loans let one fund within an entity lend to another. What should local governments know about these tools to make the best use of them?

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Financial Protections for Small Jurisdictions: What Local Government Leaders Need to Know About Fraud

February 3, 2025  by  Cheryl Grant
Category:  Accounting ,  Financial Management

Fraud is damaging for any public agency but especially for small jurisdictions that already lack crucial resources. What safeguards can local leaders put in place to protect their agencies against fraud, and by extension, provide clear guidelines for agency staff?

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A close up of a person reviewing financial data

Need a Crash Course in Government Finance? Our Finance Bootcamp Is What You've Been Waiting For

August 28, 2024  by  Cheryl Grant
Category:  MRSC News and Updates ,  Accounting ,  Budgets and Budgeting ,  Finance Policies ,  Financial Reporting

MRSC’s new Municipal Finance Bootcamp is a five-day crash course for professionals new to government finance. It covers topics like BARS, payroll, budgeting, and much more.

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Close up of hand of one person giving money to another person

Handling Payroll Overpayments

September 27, 2023  by  Eric Lowell
Category:  Accounting

What happens when an employee is accidentally paid a higher salary for several months or even several years? It could raise concerns about gift of public funds. Local governments must be careful to follow the processes outlined in the statutes when handling payroll overpayments.

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What’s New with Form 1099?

January 7, 2021  by  Eric Lowell
Category:  Accounting ,  Financial Reporting

This blog discusses new changes to Form 1099 and Form 1096.

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New Guidance in Accounting for and Reporting Leases

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

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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Financial Policies: Travel, Expense Reimbursement, Credit Cards, and More

July 8, 2019  by  Mike Bailey
Category:  Accounting ,  Financial Management

MRSC has partnered with the State Auditor’s Office (SAO) Center for Government Innovation to expand the Financial Policies Tool Kit we first launched two years ago. This blog post covers some of the highlights.

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Past Due Payments and Use of Collection Agencies

March 4, 2019  by  Oskar Rey
Category:  Accounting ,  Utilities - Billing and Collection

This blog post provides an overview of the requirements for use of a collection agency and will address some frequently asked questions that arise when doing so. 

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