Highlights
NLC Early Registration Deadline Extended
The early registration deadline for AGA’s Sixth Annual National Leadership Conference (NLC) has been extended to Feb. 1. Don't miss your chance to attend, and save $100 by registering now. After Feb. 1, fees will increase to $600 for AGA members and $775 for nonmembers.
NLC 2008 is packed with dynamic speakers and informative educational sessions. In addition to offering 14 CPE hours and an outstanding technical program, the NLC also provides unparalleled opportunities to network, exchange ideas and meet new friends. Visit the Exhibit Hall to see the latest tools to help your agency perform at top efficiency.
Last Week to Register Early for Feb. 6 Internal Controls Audio Conference
AGA, in conjunction with the National Association of State Auditors,
Comptrollers and Treasurers and the Association of Local Government
Auditors, is pleased to announce a new audio conference, Using
Internal Controls to Improve Operations. The audio conference, worth 2 CPE hours, is set for 2 – 3:50 pm EST, Feb. 6, 2008.
Speakers include Janet Hayes, MBA, CPM, CICA, Director of the Management Services and Nongovernmental Compliance Division, Office of the State
Auditor, State of North Carolina; Michael L. Piazza, MBA, CICA, Principal Associate and lead consultant of Professional Development Associates and Director of Program Development and Training for the Institute for Internal Controls; and Martha J. Smith, Central Site Director, Cleveland Center, U.S. Defense Finance and Accounting Service.
Cost is $249 per site (unlimited attendance) if you register on or before
Feb. 1, and $299 thereafter. Government agencies and CPAG members who
register five or more offices can receive a 20 percent discount (pay
only $200 per site).
Register online, or print the regular registration form, or the special promotion registration form and fax it to 703.684.6933.
View the entire audio conference schedule.
Get to Know Your AGA Corporate Partner
CCH a Wolters Kluwer business—Behind every CCH product is a heritage of expertise that goes back to 1913, when the first tax legislation was introduced. Today, CCH is part of Wolters Kluwer, a global company known for its legacy of helping professionals make their most critical tax, accounting and auditing decisions, while improving their work processes.
CCH maintains a solid reputation of providing quality service, and exceptional value through its accounting and auditing suite of products. Accounting Research Manager (ARM) is the most comprehensive financial reporting online database, providing access to accounting, auditing, governmental, internal controls, and SEC authoritative literature plus interpretive guidance. The CCH Learning Center Accounting and Audit Specialty Library is the professional’s solution to accounting and audit professional development and CPE needs; offering more than 75 self study courses for CPE credit.
CCH is a respected industry leader and an innovator recognized for award-winning, leading edge technology. For more information on CCH’s accounting and auditing offerings, please contact:
Otey Meriwether
Director of Government Sales
CCH a Wolters Kluwer business
888.777.3709
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January 28, 2008 • News from the Profession
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AGA Today is Brought to You by AGA Corporate Partner Clifton Gunderson
 Clifton Gunderson offices in Washington, D.C., Baltimore, MD and Harrisburg, PA are looking for experienced professionals to join our public sector practice. The ideal candidate will have 5+ yrs of Public Accounting or equivalent audit experience along with your BA/BS in Accounting and CPA or CGFM. Duties will include audits of Federal entities, State & Local audits (GASB), A-133 audits, and compliance auditing. To apply please e-mail
michael.armstrong@cliftoncpa.com.
AGA's FMSB Comments on FASAB Proposal
AGA’s Financial Management Standards Board (FMSB) has sent comments to the Federal Accounting Standards Advisory Board (FASAB) on a proposed Statement of Federal Financial Accounting Standards titled, Reporting the Gains and Losses from Changes in Assumptions and Selecting Discount Rates and Valuation Dates. The FMSB, in a Jan. 15 letter, agreed that displaying gains and losses from changes in assumptions as discrete line items on the statement of net cost will enhance the usefulness of the information, increase the readability of the statement and make it easier for users to assess operating performance and stewardship. The issuance of guidance regarding rates to be used for discount rates will reduce the current uncertainty in practice and create more consistency and comparability in reporting.
In Search of Revenue: Local Governments Could Have More Impact Than the Capital This Year
What are the issues and problems that are likely to dominate the debate in the states and localities this year? There is one overriding dilemma that will affect many of the others: declining revenues. Almost half the states are suffering from a decline in real estate value, and some of their budget projections look increasingly dismal. California's projected deficit has doubled, to $14 billion. New York's is $4.3 billion. Florida's is $2.4 billion. The same thing is beginning to happen to local governments. As foreclosures mount and property assessments flatten or fall, municipal and county revenues across the country are trailing off — just at a time when governments are facing increased spending pressure on transportation infrastructure, under-funded pensions and medical benefits for employees, on top of such traditional concerns as education and crime. —Peter Harkness, Congressional Quarterly. Read more.
 AGA Today is Brought to You by New York City Municipal Water Finance Authority (NYW) Assistant Comptroller
Salary range $110,000 to $135,000 DOQ/E, per annum. CPA preferred. NYW seeking experienced professional to manage accounting functions of financing entities which issue bonds to benefit NYC. AC will be responsible for critical day-to-day operations. Brochure at www.mercergroupinc.com. EOE
Broad Failings Found in Audit of New Orleans Finances
A long-awaited audit of New Orleans' 2006 finances reveals an overburdened, disorganized system of fiscal oversight at City Hall that is prone to bookkeeping delays and lacks a variety of internal controls, including barriers to prevent corruption of the public bidding process, according to the accounting firm that conducted the audit. The report is striking in the breadth of its concerns. Beyond offering general criticism of how New Orleans manages its accounts, auditors identified sloppy procedures for handling cash transactions, gaping holes in the protection of electronically stored information and deficiencies in the collection and recording of property, sales and franchise taxes. Referring generally to the ability of Mayor Ray Nagin's administration to oversee municipal finances, the auditors with the firm KPMG state: “The city does not have adequate policies, procedures and related internal controls to prepare accurate and complete financial statements.” In response to nearly every problem uncovered, city officials attribute their shortcomings to a lack of capacity owing to significant layoffs that followed Hurricane Katrina. Officials say they are working to rehire accounting staff and consultants to rectify the problems. —Michelle Krupa, The Times-Picayune. Read more.
AGA Member Offers Commentary on DOT’s Success as a Shared Service Provider for Financial Systems
The U.S. Department of Transportation four years ago completed the conversion of all of its component agencies to a single state-of-the-art financial system using commercial off-the-shelf software. We now provide proven financial system and expert accounting services to other agencies as a federal shared service provider, as designated by the Office of Management and Budget. —Larry Neff, Deputy Chief Financial Officer, U.S. Department of Transportation, The Federal Times. Read more.
Report: Health, Pension Costs Will Drain Philadelphia's Resources to Tackle Other Problems
Philadelphia's ballooning pension and health-care costs threaten the city's ability to provide services and continue to reduce taxes, according to a report by the Pew Charitable Trusts and the Economy League of Greater Philadelphia. The study found that benefit costs will consume 28 percent of Philadelphia's budget by 2012, up from 16 percent in 1998. That rise will drain "the resources needed to tackle other city problems," according to Donald Kimelman, managing director of Pew's Information and Civic Initiatives. The study, which compared 10 major cities, also found that Philadelphia:
• Paid more in health-care costs per retiree ($9,150) than any city surveyed.
• Paid more in health-care costs per employee ($9,841) than any city surveyed but Detroit. That figure is about triple the cost per employee for private industry in the Mid-Atlantic region. —Marcia Gelbart, The Philadelphia Inquirer. Read more.
Increasing Security Breaches Worry Energy IG
Inspector General Gregory Friedman hopes to lock down security on the U.S. Department of Energy's interconnected computer networks, after auditors called 132 security breaches serious enough to report to law enforcement in fiscal 2006—22 percent more than in the prior year. The department's 69 organizations support as many as eight separate intrusion and analysis groups, which do not use a common incident-reporting format and do not always retain crucial information about cyberattacks, the IG said in a Jan. 22 report. Some sites opt out of monitoring their networks or even disable the sensor equipment. Energy has found such cyber weaknesses before but "does not specifically require that incidents be reported to law enforcement or counterintelligence officials," the report said. —Susan M. Menke, Federal Computer Week. Read more.
Environmental Fraud Subject of Upcoming Audio Conference
AGA, in conjunction with the National Association of State Auditors, Comptrollers and Treasurers and the Association of Local Government Auditors, is pleased to announce a new audio conference, How Fraud Can Undermine the Integrity of Environmental Programs and Create Environmental Risks. The audio conference, worth 2 CPE hours, is set for 2 – 3:50 p.m. EST, March 5, 2008.
Criminal Investigators at the U.S. Environmental Protection Agency (EPA), working with auditors and investigators across the federal, state and local accountability community, have an impressive record addressing fraudulent activities that can affect human health and the environment. Prosecuting these bad actors is just the first step. To prevent future fraud, it is critical to address the systemic weaknesses that allow fraud to occur and prevent the individuals and organizations that commit fraud from continuing to do business with the government.
Speakers include Michael Daggett, Director, EPA OIG Program Integrity Directorate; Larry Valett, Director, EPA OIG Financial Fraud Directorate; and Frank Lane, Director of EPA’s Suspension and Debarment Division.
Cost is $249 per site (unlimited attendance) if you register on or before Feb. 29, and $299 thereafter. Government agencies and CPAG members who register five or more offices can receive a 20 percent discount (pay only $200 per site).
Register online, or print the regular registration form, or the special promotion registration form and fax it to 703.684.6933.
View the entire audio conference schedule.
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