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MRSC Insight Blog

Posts for Finance Advisor

Property Taxes in Washington

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.

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Finance 101

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

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Financial Statements - GAAP or Cash Basis? You Decide

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.

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

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.

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

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.

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Keeping Internal Controls Fresh in Your Organization

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.

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