Cherry Bekaert: Government & Public Sector

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Episode four of the Grants Management Podcast series focuses on indirect costs related to grant projects and the importance of capturing those costs to assist your organization with grant-related personnel and overhead expenses.

This podcast episode is hosted by Kimberly Konczack, an Advisory Manager at Cherry Bekaert, and Kat Kizior, Manager, with special guest Nikky Lettini, Managing Director, Advisory Services.

As part of Cherry Bekaert’s GPS podcast series, this episode covers:

An explanation of indirect costs
Definitions of indirect cost rate and cost allocation
The importance of using indirect costs to recover administrative expenses
The advantages of indirect cost reimbursement when receiving a grant award
Who can receive an indirect cost rate and how long it takes
The types of guidance for indirect costs

Cherry Bekaert’s Grant Lifecycle Management team manages grants end-to-end, bridging the service gap to improve internal controls and staff success so your organization can maximize every opportunity. If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources

Podcast: Budget for Success—How to Build a Successful Grant Budget
Podcast: Justify Your Spending— Grant Expenditures
Podcast: Update—2024 Uniform Guidance
Article: Determining Your True Cost for Full Cost Recovery
Webinar Recording: The True Cost of Grants and How to Maximize Your Cost Recovery – A CPE Webinar Recording

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Podcast host Danny Martinez, Managing Director and Government & Public Sector Accounting Advisory Lead, is joined by Lauren Strope, Partner, and Jack McKee, Advisory Senior Manager to recap and reflect on their time at the 118th Government Finance Officers Association (GFOA) National Conference. Held in Orlando, FL, the conference had over 7,000 attendees, with 50 states represented and chances for continuing professional education (CPE), networking and learning.

Listen to this episode to hear about:

Our team’s favorite parts of GFOA’s 118th Annual Conference
- Lessons learned
Networking opportunities and key takeaways

As mentioned in this episode, the 2024 Cherry Bekaert Government & Public Sector Virtual Conference will take place on Wednesday, August 7 and Thursday, August 8. Click here to register.

Related Content:

Article: GASB 101: Compensated Absences Update
Podcast: Navigating GASB 101: Compensated Absences

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Cherry Bekaert’s Advisory Leader, Srikant Sastry, is joined by journalist Richard Greene and his wife, Catherine Barrett, as they discuss the openness driver of the Organization for Economic Co-operation and Development’s (OCED) Trust in Government Framework.

Richard Greene is a prominent journalist who has spent the better part of the past 30 years covering state and local governments. It is often said that trust and confidence in government is strongest at the local level because that’s where government is closest – and most responsive. However, trust in government has been on the decline for decades. Greene has recently contributed articles to digital publication Route Fifty that explore why trust in state and local government has fallen and clear ways to reverse the trend.

The third in our mini-series covering the five pillars of trust, this episode covers:
Trends in state and local government
What motivated Greene to write articles for Route Fifty
The importance of trust in government
Differences in what causes trust at the state and local government level
How the pandemic influenced perceptions of trust in government
If the government is doing enough to ensure citizens’ confidence in them
What specific practices can reverse a declining trend in trust in government
Who we should be watching to gauge the success of efforts to restore trust in government
Recommendations to public leader aiming to enhance trust in their respective government institutions

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article: Explaining and Exploring the Drivers of Trust in Government

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The Office of Management and Budget (OMB) recently published its final revisions to the federal Uniform Guidance (2 CFR Part 200). This revision outlines compliance and reporting requirements for federal financial assistance, such as grants and loans.

Host Kat Kizior, Senior Associate at Cherry Bekaert, is joined by special guest Robert Shea, CEO of GovNavigators, to discuss2 CFR 200 uniform guidance updates and how these changes will affect state and local governments, non-profits and public entities.

As part of Cherry Bekaert’s Government & Public Sector (GPS) podcast series, and the third episode in the grants management mini-series, this episode covers:

Major changes to the uniform guidance that will affect non-federal entities receiving grant funding
When entities are expected to follow the update cost principles guidance
How the federal updates affect grant recipients
Positive aspects of the revisions
Key takeaways from this episode

Cherry Bekaert’s Grant Lifecycle Management team manages grants end-to-end, bridging the service gap to improve internal controls and staff success to help your organization maximize every opportunity. If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Podcast: Budget for Success – How to Build a Successful Grant Budget
Podcast: Justify Your Spending – Grant Expenditures
Article: Determining Your True Cost for Full Cost Recovery
Webinar recording: The True Cost of Grants and How to Maximize Your Cost Recovery – A CPE Webinar Recording

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The Governmental Accounting Standards Board (GASB) recently issued Statement No. 102, which adds new disclosure requirements for governments. Numerous risks loom over state and local governments, which could impair their service delivery or hinder their capacity to fulfill obligations in a timely manner. While certain risks demand disclosure, many others that commonly plague these governments have not been disclosed because they were not explicitly required. To address this gap, Statement No. 102 was issued with the intention to provide stakeholders of government financial statements with indispensable details concerning risks that stem from limitations or concentrations, exposing governments to vulnerabilities.

Podcast host, Danny Martinez, Managing Director and Government & Public Sector Accounting Advisory Lead, is joined by Scott Anderson, Director, to dive into the challenges, changes and key considerations for GASB 102.

As part of our GPS podcast series, and the third in our GASB mini-series for 2024, this episode covers:

The GASB 102 basics
When GASB 102 is effective
Background on why GASB took on the project
Why it took more than three years from agenda to issuance
If the GASB board members able to all get on the same page
Risks that should be considered when adopting this guidance
Impact GASB 102 will have on governments
Key takeaways

Do You Need Assistance with GASB 102?

Cherry Bekaert’s Government and Public Sector Accounting Advisory team provides a comprehensive GASB-as-a-service offering that helps governments overcome staffing and technical challenges. Cherry Bekaert has a dedicated team of professionals who solely provide governmental accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines.

Related Resources:

PODCAST: Navigating GASB 100: Accounting Changes and Error Corrections
ARTICLE: Navigating GASB 100: Accounting Changes and Error Corrections
PODCAST: Navigating GASB 101: Compensated Absences
ARTICLE: Navigating GASB 101: Compensated Absences

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The National Academy of Public Administration’s Agile Government Center Coordinator, G. Edward DeSeve, joined Cherry Bekaert’s Advisory Leader, Srikant Sastry, in a conversation with Nick Hart, the current president and CEO of the Data Foundation. In this episode, Ed and Srikant discuss the Organisation for Economic Co-operation and Development’s (OECD) Trust in Government Framework. According to the OECD, governments with high levels of trust among their citizenry “provide open and accessible information so the public better understands what government is doing.”

Hart gives his view on the state of openness in the U.S. government and what the Data Foundation is doing to promote transparency. He also shares his work in advancing important laws that have led to greater government transparency – the DATA Act, the Foundations for Evidence-Based Policymaking Act, the GREAT Act, the Financial Data Transparency Act – and what kind of reception he gets when arguing for these openness frameworks.

The second in our mini-series covering the five pillars of trust, this episode covers:

The key drivers in restoring trust in the government
Whether transparency builds trust or erodes it
How to measure the extent to which citizens find their government sufficiently open and transparent
Data quality:
- How good is the data government collects, uses and reports
- If the data reported is unreliable and what that means when it comes to trust
The ways that technology has transformed the landscape of government transparency
Advice for policymakers at every level who are hesitant to embrace openness and transparency
Anticipated future trends in the realm of government data and transparency

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article: Explaining and Exploring the Drivers of Trust in Government

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As a grant recipient, it's important to ensure the money is being spent effectively and efficiently when it comes to the costs related to grant expenditures. However, justifying grant expenditures can be a complex and time-consuming process.

Hosts Kimberly Konczack, an Advisory Manager at Cherry Bekaert, and Shuo Zhang, Manager, are joined by Kat Kizior, Senior Associate, and special guest Anthony Walsh, Senior Manager. As part of Cherry Bekaert’s Government & Public Sector (GPS) podcast series, and the second episode in the grants management mini-series, this episode covers:

• Costs related to grants

• Direct

• Indirect

• The steps taken to ensure a grant recipient has determined direct costs

• How a recipient determines if their direct costs are allowable

• How to avoid the risk of audit findings

• Examples of the typical audit findings related to expenditure justification

• What auditors look for when it comes to allowability of costs

• What can happen if an auditor finds unallowable direct costs allocated to a grant

• Where to go for guidance on direct costs

Related Resources:

Article: Determining Your True Cost for Full Cost Recovery
Webinar recording: The True Cost of Grants and How to Maximize Your Cost Recovery – A CPE Webinar Recording

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Many organizations grapple with new enterprise resource planning (ERP) implementations or upgrades. The process of deciding what is best for your organization can be dizzying. There are several important questions and considerations organizational leaders need to navigate when selecting and implementing a new ERP system.

George DelPrete, Managing Director, hosted Jeffrey Yates, Assistant City Manager of the City of Fayetteville, and Zach Salvato, Chief Information Officer of the Greenville Spartanburg Airport, to discuss ERP selection and implementation. Both Yates and Salvato have performed several ERP selection and implementation projects throughout their careers and thoroughly understand the requirements and risks involved. This podcast explores key factors to consider and pitfalls to avoid when selecting an ERP system.

As part of our GPS podcast series, this episode covers:

The significance of understanding your organization and processes
The importance of understanding goals and expectations for systems
Planning for a new ERP system
Implementing a new ERP system
Challenges organizations face with their ERP systems
Experiences with ERP selection and implementation

Cherry Bekaert Can Guide You ForwardIntegrating an ERP system into your business enhances agility, scalability and competitiveness, empowering organizations to adapt to dynamic market conditions and drive growth effectively. Cherry Bekaert’s Government & Public Sector and Digital Advisory practices can help your organization with digital transformation or ERP-related issues. This includes strategy development, validation, selection and project assurance. To learn more about how we can help with your ERP deployment, please reach out to us today!

Related Resources:

ARTICLE: 5 Key Factors to Consider When Selecting and Implementing an ERP System

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The Governmental Accounting Standards Board (GASB) recently issued Statement No. 101, Compensated Absences, to update the recognition, measurement and disclosure requirements for compensated absences in state and local governments. The statement aims to provide financial statement users with improved and comparable information regarding compensated absences by establishing a unified model for recognizing and measuring compensated absences.

Danny Martinez, Managing Director and Government & Public Sector Accounting Advisory Lead, hosted Scott Anderson, Assurance Director, and Anthony Walsh, Assurance Senior Manager, to dive into the challenges, changes and key considerations for GASB 101.

As part of our GPS podcast series, and the second in our GASB mini-series for 2024, this episode covers:

•When GASB 101 is effective
•What a compensated absence is
•Identifying all compensated absences
•Different accounting treatments within GASB 101
•GASB terms used for probability
•GASB 101 impact on governments
•Key takeaways

Do You Need Assistance with GASB 101?

Related Resources:

PODCAST: Navigating GASB 100: Accounting Changes and Error Corrections
ARTICLE: Navigating GASB 101: Compensated Absences (Link Coming)
ARTICLE: Navigating GASB 100: Accounting Changes and Error Corrections

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Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. 62, is in effect for fiscal years beginning after June 15, 2023. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections, as well as the related disclosures in governmental financial reporting.

Danny Martinez, Managing Director and Government & Public Sector Accounting Advisory Lead, hosted Scott Anderson, Assurance Director, and DeWanna Coleman, Assurance Senior Manager, to dive into the challenges, changes and key considerations for GASB 100.

As part of our GPS podcast series, and the first in our GASB mini-series for 2024, this episode covers:

Changes in accounting principle
Changes in accounting estimate
Changes to or within a financial reporting entity
New error corrections
Key takeaways

Do You Need Assistance with GASB 100?Cherry Bekaert’s Government and Public Sector Accounting Advisory team provides a comprehensive GASB-as-a-Service offering that helps governments overcome staffing and technical challenges. We have a dedicated team of professionals who solely provide governmental accounting advisory services for governments, equipping them with the confidence that their needs will not be placed second to competing audit regulatory deadlines.

Related Resources:ARTICLE

Navigating GASB 100: Accounting Changes and Error Corrections

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Grant recipients, and hopeful recipients, are often overwhelmed by the management aspect of their funds. On this episode, Cherry Bekaert experts provide insight on key considerations for a comprehensive grant budget.

Kimberly Konczack, an Advisory Manager at Cherry Bekaert, hosted Shuo Zhang, Manager, and Kat Kizior, Senior Associate, to discuss their experience with grants management at state and local organizations, grant budgets and the importance of planning.

As part of Cherry Bekaert’s GPS podcast series, and the first in the grants management mini-series, this episode covers:

An introduction to Cherry Bekaert’s Grants Management team
What a grant budget is and what it includes
Why grant budgets matter
Best practices and lessons learned
A six-step guide to make an accurate and comprehensive budget
How to begin

Related Resources:

Article: Determining Your True Cost for Full Cost Recovery
Webinar recording: The True Cost of Grants and How to Maximize Your Cost Recovery – A CPE Webinar Recording

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The National Academy of Public Administration’s Agile Government Center Coordinator, G. Edward DeSeve, joined Cherry Bekaert’s Advisory Leader, Srikant Sastry, in a conversation with Department of Veterans Affairs (VA) Deputy Chief Veterans Experience Officer Barbara Morton. With trust in government at an all-time low, Ed and Srikant explored what was driving VA’s improved Veteran satisfaction and how it could help restore trust. Human-centered design, data collection and better measurement of the customer experience are all features of the Department’s approach.

Morton shared her perspectives and even offered a taste of best practices from her Customer Experience Cookbook. It seems to be working, as trust in VA among Veterans increased from 55% in 2015 to almost 80% today.

The first in our mini-series covering the five pillars of trust, this episode covers:

Efforts at the Department of Veterans Affairs to improve Veterans’ experiences
Specific ways that VA measures improvement in customer experience, including ease, effectiveness and emotion
How the Organization for Economic Cooperation and Development’s framework for assessing drivers of trust in government institutions relates to customer experience improvement efforts in government
Government-wide efforts to improve customer experience and restore trust in government

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article: Explaining and Exploring the Drivers of Trust in Government
Article: VA is Leading the Way to Restoring Trust in Government
Article: Trust in Government is in a Tailspin
Initiative: The Federal Government’s Customer Experience

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Library systems are constantly evolving. As digital technologies continue to expand, local governments and their libraries have increased access to quality data, providing opportunity for focused improvement with data-driven decisions.

Becky Buczek, a Client Success Manager at Cherry Bekaert, hosted Courtney Brohawn, Project Coordinator at Frederick County Public Libraries (FCPL), to discuss FCPL, the communities they serve, challenges with data and the advantages of data-driven programs.

Part of our GPS podcast series and the second in our library systems mini-series, this episode covers:

An overview of Frederick County Public Libraries and the communities they serve
Challenges FCPL has faced in gathering and utilizing data
Libraries’ internal operations and the ability to improve with data
Using data to assist FCPL communities
Key service and community trends pre- and post-pandemic
Specific reports and data that have a positive impact on FCPL communities
The future of FCPL and other library systems

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Podcast: Data-Driven Opportunities for Library Systems
Case Study: Tableau Case Study for Frederick County Public Libraries: Utilizing Data To Cultivate Community Connection
Case Study: A Unified Data Landscape for Maryland Libraries
Case Study: Prince George’s County Memorial Library System’s Data Tells the Real Story

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With billions of dollars in available federal funding, state and local governments can significantly improve the quality of public broadband connectivity services, especially for unserved and underserved populations. As they work to close the digital divide and utilize these funds, governments also face a great need for program integrity and audit readiness solutions that ensure projects facilitate compliance and deliver results.

Paul Folkers, a Senior Manager on Cherry Bekaert’s Government & Public Sector (GPS) team, and Dr. Robert Loube, Vice President and owner of Rolka Loube, sat down with Denise Lippuner, Cherry Bekaert GPS’s State & Local Advisory Leader, to discuss funding opportunities for state and local governments, digital equity programs, implementation considerations and how to ensure program longevity.

Part of our GPS podcast series, this episode covers:

Funding opportunities for state and local governments
Cost concerns including, revenue, detailed cost analysis and funding sources
Post-award monitoring considerations
Acceptance and usage monitoring to ensure program success and longevity
Risk factors and mitigation
Key takeaways for listeners considering funding for broadband implementation

Cherry Bekaert recognize that state and local government organizations may not have the capacity or requisite skills to meet grant administration and compliance requirements. Our state and local team can enhance your grant administration capabilities by providing resources to help strengthen your performance in process and internal control design, grant administration and project management, subaward administration, and monitoring and reporting.

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

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GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA), is in effect for fiscal years beginning after June 15, 2022. This podcast episode will focus on GASB 96 implementation and its implications in airports.

Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector (GPS) team who has recently returned from his GASB fellowship, and Jim Holman, Digital Advisory Services Strategy & Operations Leader, sat down with Danny Martinez, Government & Public Sector Accounting Advisory Lead, to discuss GASB 96, airports and the implementation process.

Part of our GPS podcast series, this episode covers:

GASB 96 overview and initial considerations for airports
Key software and other technologies used by airports
Determining which technologies are SBITAs
Challenges when identifying the completeness of the SBITA population
Challenges that may affect airports and who will need to address them
Additional changes or GASB standards that airports should look out and prepare for

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Alert: Three Things to Know About GASB 96, Subscription-based Information Technology Arrangements
Podcast: GASB Hot Topics and Accounting Standards Update
Webinar: GASB 96, Subscription-Based IT Arrangements: A New Challenge the Year after Leases

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With SFFAS 54, Leases, effective for fiscal years beginning on or after October 1, 2023, federal agencies should consider their implementation process. Once agencies have identified key stakeholders, and completed lease populations and systems, Cherry Bekaert’s fourth suggested step in the process is to create the entries and disclosures necessary to account for leases.

Danny Martinez, Government & Public Sector (GPS) Accounting Advisory Lead, connected with Jason Parker, Senior Alliance Manager at LeaseQuery, to discuss the fourth and final step that federal agencies should follow.

Part of our GPS podcast series, and the fourth in our mini-series on SFFAS 54, Leases, this episode covers the:

Importance of using a reporting tool
Challenges a reporting tool solves
Considerations for federal nuances of this leasing standard
Useful reports and information to supplement standard journal entries and disclosures
Best practices for phase four of SFFAS 54 implementation

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Podcast: Initial SFFAS 54 Implementation Considerations for Federal Agencies
Podcast: Identifying Complete Leasing Populations for SFFAS 54 Implementation
Podcast: Policy and Procedure Considerations for SFFAS 54 Implementation
Article: SFFAS 54, Leases Is Coming: What Should Your Federal Agency Do About It Today?
Webinar: Introduction to the Federal Leasing Standard SFFAS 54

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With SFFAS 54, Leases, effective for fiscal years beginning on or after October 1, 2023, federal agencies should be considering their implementation process. Once agencies have identified key stakeholders and their complete lease populations, Cherry Bekaert’s third suggested step in the process is to develop policies and procedures and identify systems.

Danny Martinez, Government & Public Sector (GPS) Accounting Advisory Lead, sat down with Jack McKee, Manager in GPS, to discuss these third of four steps that federal agencies should follow.

Part of our GPS podcast series, and the third in our mini-series on SFFAS 54, Leases, this episode covers the:

Importance of assessing current state of policies and procedures
Identification of what needs to be updated in policies and procedures
Impact on chart of accounts and lease capture
New policy and procedures considerations due to SFFAS 54
Best practices for phase three of SFFAS 54 implementation

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Podcast: Initial SFFAS 54 Implementation Considerations for Federal Agencies
Podcast: Identifying Complete Leasing Populations for SFFAS 54 Implementation
Article: SFFAS 54, Leases Is Coming: What Should Your Federal Agency Do About It Today?
Webinar: Introduction to the Federal Leasing Standard SFFAS 54

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With SFFAS 54, Leases, effective for fiscal years beginning on or after October 1, 2023, federal agencies should start to identify their leasing populations and consider how their leasing transactions must be accounted for on the balance sheet.

Danny Martinez, Government & Public Sector Accounting Advisory Lead, sat down with Richard Hart, Senior Audit Manager, to discuss this second of four steps that federal agencies should follow in their SFFAS 54 implementation process.

Part of our GPS podcast series, and the second in our mini-series on SFFAS 54, Leases, this episode covers the:

Importance of completeness in finding leases
Power of data analytics
Challenges and examples of embedded leases
Best practices for phase two of SFFAS 54 implementation

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Podcast: Initial SFFAS 54 Implementation Considerations for Federal Agencies
Article: SFFAS 54, Leases Is Coming: What Should Your Federal Agency Do About It Today?
Webinar: Introduction to the Federal Leasing Standard SFFAS 54

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GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITA), is in effect for fiscal years beginning after June 15, 2022. This episode will focus on GASB 96, its implementation and next steps for governments to take.

Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector (GPS) team who has recently returned from his GASB fellowship, sat down with Danny Martinez, Government & Public Sector Accounting Advisory Lead, to discuss GASB 96 and the implementation process.

Part of our GPS podcast series, this episode covers:

Important considerations for beginning the SFASS 54 implementation process
Definition of SBITA
Similarities to and differences from GASB 87, Leases
Connection to the recent exposure draft
Early challenges
Implementation process

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article/Alert: GASB 96 (in progress)
Podcast: GASB Hot Topics and Accounting Standards Update
Webinar: GASB Updates for the Government & Public Sector

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SFFAS 54, Leases, is effective for fiscal years beginning on or after October 1, 2023. Federal agencies should start considering how their leasing transactions must be accounted for on the balance sheet as we move forward.

Danny Martinez, Government & Public Sector Accounting Advisory Lead, sat down with Ward Melhuish, Federal Government Sector Advisory Leader, to discuss the first of four steps federal agencies should follow in their SFFAS 54 implementation process.

Part of our GPS podcast series, and the first in our SFFAS 54, Leases, mini-series, this episode covers:

Considerations when beginning the SFFAS 54 implementation process
Training to help understand SFFAS 54
Criteria for an SFFAS 54 implementation team
Takeaways from large federal project implementation teams
Template development and creation
Transition period and process

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article: SFFAS 54, Leases Is Coming: What Should Your Federal Agency Do About It Today?
Webinar: Introduction to the Federal Leasing Standard SFFAS 54

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Paul Folkers, a Senior Manager on Cherry Bekaert’s Government & Public Sector (GPS) team, and Velencia Posso, an Associate in our Digital Advisory practice, hosted Denise Lippuner, Managing Director of our Risk & Accounting Advisory practice, to discuss library systems, their place within local governments and opportunities to implement data strategy.

Part of our GPS podcast series and the first in our library systems mini-series, this episode covers:

Local governments’ data collection and utilization
Relationships between libraries and government organizations
Trends and impacts on library systems pre- and post-pandemic
Resources to collect and analyze data to improve operations
Data challenges libraries face
Opportunities for libraries to better utilize data

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Case Study: A Unified Data Landscape for Maryland Libraries[AP1]
Case Study: Tableau Case Study for Frederick County Public Libraries: Utilizing Data To Cultivate Community Connection
Cast Study: Prince George’s County Memorial Library System’s Data Tells the Real Story

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The Governmental Accounting Standards Board (GASB) Statement no. 87, Leases[MD1], aims “to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments.”

Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector (GPS) team, who has recently returned from his GASB fellowship, sat down with Lauren Strope, Assurance Partner on our GPS team, to address frequently asked questions that have surfaced throughout the first-year implementation of GASB 87. Part of our GPS podcast series, this episode discusses:

Right-of-use assets and where they belong
Capital assets and calculation of net position
Short and long-term liability reporting
Leases in proprietary fund statement reporting
Leases in governmental fund reporting during the year of implementation
Restatement of prior balances in the Management’s Discussion and Analysis

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Article: Most Frequently Asked Questions (“FAQs”) about GASB 87 and What You Need to Know to Comply
Podcast: GASB Hot Topics and Accounting Standards Update
Webinar: GASB Updates for the Government & Public Sector

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The Governmental Accounting Standards Board (GASB) develops and issues accounting standards for state and local governments. Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector team who has recently returned from his fellowship with GASB, sat down with Danny Martinez, Cherry Bekaert’s Government & Public Sector Accounting Advisory Lead to discuss GASB hot topics, insights, and key takeaways.

This podcast discusses:

Relationships, similarities, and differences between GASB Statements 87, 94, and 96
Importance of constituent feedback during GASB’s standard setting process
Takeaways from being the Zone 3 (GASB) Chair on the AICPA Technical Issues Committee and a GASB Practice Fellow
Impact of GASB 100, Accounting Changes and Error Corrections to improve consistency
Impact of GASB 101, Compensated Absences, adapting to new types of government leave
Call to action for user feedback on proposed statement, Certain Risk Disclosures

If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.

Related Resources:

Webinar: https://www.cbh.com/guide/webinar-recordings/gasb-accounting-standards-update-overview/
Article: https://www.cbh.com/guide/articles/gasb-87-lease-accounting-standard-faqs/
Podcast: https://www.cbh.com/guide/podcasts/gasb-87-guidance-for-airports/

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New TSA security directives are focusing attention on the cybersecurity preparedness of airport and airline operators. This podcast explains how to build, improve and maintain a cybersecurity plan that fits the needs and budget of your aviation organization. Greg Miller, Cherry Bekaert’s Government Services Transportation Team leader, is joined by Dan Sembler, a Director with the Firm’s Information Assurance and Cybersecurity Group, to discuss how aviation organizations can create a well-defined playbook for responding to cybersecurity incidents, breaches and ransomware attacks while maintaining operations and keeping customer data safe.

Topics covered include:

Best practices for developing cybersecurity and Incident Response Plans
The five core objectives to include in your plan
Deadlines for New TSA Security Directives
How to implement and maintain your Incident Response Plan
Monitoring controls to assess risks
What to know about Vulnerability Assessments
Resources to learn more about cybersecurity

More Resources:

Article: Understand Which TSA Security Directives Must be Submitted by Airports before April 2022
Podcast: How Airports Reach Growth Goals with Digital Transformation
Brochure: Digital Advisory Services for the Aviation Industry
Podcast: The Impact of GASB Pronouncements on Airports
Brochure: GASB 87 New Lease Standard Compliance Services

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GASB 87 procurements impact airports as both lessees and lessors. This podcast examines the specific parts of GASB 87 that airports need to address. Cherry Bekaert’s Greg Miller, leader of Cherry Bekaert’s Government Services Transportation Team, sits down with Alex Wiley, Senior Manager with the Firm’s Risk and Accounting Advisory Services, to discuss the GASB 87 lease requirements. Topics covered include:

What are aeronautical leases and how to report them
How airports report non-regulated leases
Guidelines for tracking leases
When to consider software tracking technology

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As airports seek to diversify revenue streams away from passenger traffic, many are facing roadblocks due to insufficient processes and outdated systems. This podcast explores ways that airports can optimize existing processes and improve financial performance by upgrading their technology platforms through digital transformation. Greg Miller, Leader of Cherry Bekaert’s Government Services’ Transportation Team, is joined by his colleague, Jim Holman, Leader of the Firm’s Digital Advisory Strategy and Operations Group, to discuss the emerging technologies that airports should be investigating, best practices to achieve their optimal technology goals, and key considerations regarding outsourcing services.

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This podcast examines the impact on airports of pronouncements created by the Government Accounting Standards Board (GASB). Cherry Bekaert is honored to have one of the Firm’s Directors, Scott Anderson, currently serving as one of two Practice Fellows with GASB. This discussion features Scott’s review of key GASB accounting standards that can help improve financial reporting for airports. Greg Miller, Leader of Cherry Bekaert’s Government Transportation Group, and Lauren Strope, Director with the Firm’s Government Services Group, lead the conversation that offers listeners a rare opportunity to hear an insider’s view of current and future GASB pronouncements.

Disclaimer: Scott's views expressed in this presentation are his own. Official positions of the GASB are reached only after extensive due process and deliberations. We are not providing accounting, financial report or tax advice on this podcast. Please consult with your accounting and tax advisors or Cherry Bekaert for more guidance.

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