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Posts for Financial Reporting

Updates for the 2025 Annual Financial Report

January 14, 2026  by  Eric Lowell
Category:  Financial Reporting

Good news for local government finance staff—there are no new GASB reporting standards for reporting year 2025. That said, there are other updates to the BARS manual that should be noted. 

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A checklist for 2024 with a pencil

What’s on Your Agency’s Year-End Financial Checklist?

September 23, 2024  by  Eric Lowell
Category:  Budgets and Budgeting ,  Financial Reporting

With the end of the year on the horizon, many local government finance departments are considering what needs to be done to successfully close out the year, including deadlines met, reports filed, and budgets finalized. 

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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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Donations and Local Governments: The Basics of Giving and Receiving

June 2, 2022  by  Eric Lowell
Category:  Financial Reporting ,  Gift of Public Funds

What is the process for local governments to receive donations? Can local governments make donations without violating the state's gift of public funds provisions?

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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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Choosing the Right Annual Financial Report for Your Entity

May 11, 2020  by  Mike Bailey
Category:  Financial Reporting

In the final installment of this four-part series, this blog post compares cash-basis and GAAP-reporting options for filing the required annual financial report.

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Annual Financial Reporting Options: Cash-Basis

April 30, 2020  by  Toni Nelson
Category:  Financial Reporting

This blog post describes the cash-basis reporting option available to local governments for filing an annual financial report.

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Annual Financial Reporting Options: GAAP-Basis

March 12, 2020  by  Mike Bailey
Category:  Financial Reporting

This blog post describes the GAAP-reporting option for annual financial reporting for local governments.

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Annual Financial Reporting Options for Washington Local Governments

February 27, 2020  by  Mike Bailey
Category:  Financial Reporting

This blog article describes the annual financial reporting options available to local governments in Washington State. 

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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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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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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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