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Highlights
Training Opportunities
Looking for a Job?
Last Week to Register Early for Dec. 6
Procurement Card Audio Conference
AGA, in conjunction with NASACT and
ALGA, is sponsoring an audio conference, worth 2 CPE hours, addressing the
"Successes and Challenges" and evolution of government procurement cards.
Speakers include West Virginia State Auditor Glen B. Gainer III;
Thomas J. Sadowski, CGFM, CPA, Director of Accounting, State of
Missouri, and current AGA National Treasurer as well as Past AGA National
President and Past National Treasurer; and Bruce E. Sullivan,
Vice President, Government Services, Visa USA. Join us from 2 - 3:50 p.m. EST,
Dec. 6 for a lively, open discussion. Cost is $249 per site if you register on
or before Dec. 1; $299 thereafter.
Register online.
Visit the AGA website for the audio conference schedule.
Get to Know Your AGA Corporate Partner
Founded in 1981 to provide
auditing and accounting service to government clients, Cotton & Company's team
of 9 partners and more than 100 employees now provides a full range of services
to dozens of key agencies and programs throughout state and federal government.
Our business is the business of government. And our experience allows us to
offer a wide range of specialized services to our government clients: federal
financial statement audits, contract and grant financial and compliance audits,
IT system and security audits and reviews, performance audits, financial
management consulting, litigation support, and training.
We are proud to say
that most of our current clients are repeat clients. Our federal clients include
Legislative and Executive Branch agencies, including Inspectors General, Chief
Financial Officers, and Chief Information Officers.
Matthew H. Johnson, CGFM, CPA, CISA
Executive Managing
Partner
Cotton & Company LLP
635 Slaters Lane, 4th Floor
Alexandria,
Virginia 22314
703.836.6701
mjohnson@cottoncpa.com
www.cottoncpa.com
NLC Registration Brochure Now Available
The Registration Brochure for AGA's 2007 NLC is now available online. The
brochure includes a list of the featured speakers, education sessions and
events. You can also get information about registration, hotel accommodations,
travel discounts and more!
Register online
View the brochure
Print the registration form (PDF)
Leadership Breakfast Set for Tomorrow
It's not too late for government professionals to register for a complimentary
Leadership Breakfast on Tuesday, Nov. 28, sponsored by AGA and its Corporate
Partner Advisory Group. Speakers include: Johnnie Frazier,
Inspector General, U.S. Department of Commerce; Charles Havekost,
Chief Information Officer, U.S. Department of Health and Human Services;
Alexis Stefani, Deputy Assistant Secretary for Finance and Budget,
Office of the Chief Financial Officer, U.S. Department of Transportation.
Learn more. |
November 27, 2006 • News from the Profession
AGA Today is Brought to You by AGA Corporate Partner
Clifton Gunderson
 Clifton
Gunderson's D.C. office is 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
Jennifer.Busse@cliftoncpa.com
AGA's FMSB Examines Elements of Financial
Statements
AGA's Financial Management Standards Board (FMSB) has
commented on a proposed Concepts Statement issued by the Governmental Accounting
Standards Board (GASB), Elements of Financial Statements. In a Nov. 17
letter to GASB, the FMSB wrote, "A serious concern is that GASB and FASAB
(Federal Accounting Standards Advisory Board) are defining different 'elements
of financial statements.' While there is no question that state and local
governments and the federal government have different needs for financial
reporting, having different definitions and elements is confusing to all users,
preparers and auditors alike, and should be avoided, if possible." The FMSB
commented on six issues outlined and made several suggestions. --FMSB
Most Agencies Get Clean Audits, but Big
Problems Persist
Eighteen federal agencies received clean audit
opinions for fiscal 2006, and for the second year in a row all 24 major agencies
met a deadline to close their books within 45 days of the end of the fiscal
year, the Office of Management and Budget announced. The 24 agencies named in
the 1990 Chief Financial Officers Act had a Nov. 15 deadline to submit the
results of their annual financial audits along with annual Performance and
Accountability Reports. Eighteen of those received unqualified opinions,
indicating that auditors were satisfied that the agencies' financial statements
were reliable. Auditors returned disclaimers of opinion, reflecting such major
problems in an agency's accounting that its financial statement could not be
evaluated, to the Defense, Energy, Homeland Security and State departments, and
NASA. --Jenny Mandel, Government Executive.
Read the entire article.
New Subcommittees to Focus on Work Force
Management
In an effort to take a more strategic approach to federal
work force management, an interagency group has reorganized with an eye to how
best to help Uncle Sam recruit and train a new generation of public servants.
The group, the Chief Human Capital Officers Council, was created in 2002 to
advise agencies on how to improve federal personnel systems. Linda M. Springer,
director of the Office of Personnel Management and the council's chair,
announced the creation of six council subcommittees, replacing five panels, and
their priorities for the next year. Projections show that 40 percent of the
federal work force will retire by 2015, casting agencies into a war for talent
with corporations, consulting firms and other employers. If the government
falters in recruiting engineers, scientists, linguists and other specialized
skills, the Government Accountability Office has warned, agencies might not be
able to effectively deliver services to the public. Some of the subcommittees
will study work force planning for the retirement wave, look at how to ramp up
training for a possible "knowledge drain," and study how performance-based pay
can help the government compete for critical skills. --Stephen Barr, The
Washington Post.
Read the entire article.
Need CPE Hours?
AGA's
partnership with MicroMash offers you high-quality courses in auditing,
accounting and more.
See the full listing.
Feds Plan to Ensure States Use Same
Medicaid Accounting Rules
State Medicaid officials in Washington, D.C.
have made no progress this week in their standoff with the Bush administration
over the administration's plans to cut more than $12.2 billion over five years
without consulting Congress. A top official from the federal agency that
oversees Medicaid told state Medicaid directors recently that the Bush
administration plans to go ahead with new administrative rules that will crack
down on controversial accounting maneuvers used by many states. Dennis Smith,
director of the federal government's Center for Medicaid and State Operations,
said issuing new regulations would ensure that all states played by the same
rules when trying to secure matching grants from the federal government to run
Medicaid, the joint state-federal health insurance program for the poor. He said
some states take advantage of ambiguously worded laws in order to recover more
than their fair share of federal money. In their efforts to get funding for
running Medicaid services in schools, some states claim that their
administrative expenses are higher than the cost of the actual service, Smith
said. -- Daniel C. Vock, Stateline.org.
Read the entire article.
Federal Accounting Corner: Appropriated
Earmarked Receipts
For most appropriated funds, the Treasury warrant
provides the cash, which is generally recorded with the entry:
A104
Record enactment of appropriations
Debit 1010 Fund Balance with
Treasury
4119 Other Appropriations Realized
Credit 3100 Unexpended
Appropriations
4450 Unapportioned Authority
However, Congress doesn't just
appropriate cash authority. Congress also appropriates borrowing authority,
contract authority, receipts and other types of authority. The Standard General
Ledger Board added new accounts to deal with the peculiarities of appropriated
earmarked receipts in 2000. --Simcha Kuritzky, CGFM, CPA.
Read the entire column.
Congress, States Pledge Minimum Wage
Hikes
In the wake of overwhelming voter approval of minimum wage
initiatives in six states on Election Day, politicians in at least three more
states--Illinois, Iowa and New Mexico--have vowed to raise wages as soon as
their legislative sessions open. But they'll have to act quickly or Congress
could beat them to the punch. The new Democratic congressional leadership also
has announced plans to raise workers' pay in its first 100 days, a move that
could take the wind out of state efforts to boost wages. Traditionally,
Democrats have backed minimum wage increases as a way to help poor families
climb out of poverty, while Republicans have opposed them because they say
government-mandated pay hikes hurt the local economy and jeopardize jobs. But
recent national polls show that a majority of Americans, across both political
parties, favor raising workers' pay. As a result, federal and state politicians
are eager to show their support for raising the minimum. In the past two years,
more states raised their minimum wage rates than in the 68-year history of the
federal minimum wage law. --Christine Vestal, Stateline.org.
Read the entire article.
FSIO Wants Feedback on Accounting
Classification Structure
The Financial Systems Integration Office
(FSIO) is seeking comments on the
Exposure Draft of the Common Government-wide Accounting Classification
(CGAC) Structure. This structure will eventually impact other Lines of
Businesses and common feeder systems that interface with federal financial
systems. The FSIO is particularly interested in responses to the following:
- Are there additional opportunities to standardize the classification
elements?
- Are there unique needs in your agency that cannot be accommodated by this
structure?
- Are there near term opportunities to implement the recommended
standardization in your agency?
Please submit your comments and questions in writing by Jan.
17, 2007 to fsio@gsa.gov, using the comment
template provided. Facilitated sessions are planned throughout February 2007 to
discuss comments and determine the final structure. Once the CGAC structure is
finalized, additional work will commence to address implementation issues and
planning. Contact FSIO at 202.219.0526 with questions. --FSIO.
Don't Miss the CEAR Reviewers' Training
Dec. 4
Interested in reviewing a Performance and Accountability
Report (PAR)? Attend this year's no-cost training, set for 1:30 - 4 p.m. Monday,
Dec. 4 at the US Department of Education auditorium in Washington, DC This
intermediate-level training, worth 2 CPE hours, provides you with the
information and tools with which you can review and identify ways to improve
federal agency PARs.
The deadline to register is tomorrow.
AGA Co-Hosts Fiscal Wake-Up Tour in Denver
Tuesday
AGA and the Concord Coalition are co-hosting a "Fiscal
Wake-up Tour" town hall meeting at 5 p.m. Tuesday at the Tivoli Center in
Denver. A series of public forums have been held around the country to focus
attention on our nation's long-term fiscal challenges. Featured speaker is
Comptroller General of the United States David M. Walker and panelists
from the Concord Coalition, Brookings Institution, Heritage Foundation and
government officials.
Learn more.
AGA Advertising Opportunities!
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AGA's electronic newsletters--TOPICS and AGA Today! Get
maximum exposure and build your brand.
Click here for all the information you need to run your ad! Or, you can
contact AGA's Director of Communications, Marie
Force.
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