The document outlines the agenda for a conference on municipal accounting and auditing. The day-long event includes sessions on single audit updates and common findings, preparing for GASB 74 and 75 implementation, municipal accounting threats and opportunities, the GASB update, and a cyber security update for local governments. Breaks are scheduled between sessions for breakfast, lunch, and an afternoon snack. The event runs from 9:00am to 5:00pm with time at the end for open questions and a wrap up.
38. 38
Federal Grantor/Pass Through Grantor/Program
Title
Federal
CFDA
Number
Pass Through Entity
Identifying Number
Federal
Expenditures
Expenditures to
Subrecipients
Department of Education Direct Program – Title I
Grants to Local Educational Agencies
84.010 N/A $1,000,000 $800,000
41. 41
Internal Controls – a process implemented by a non-Federal
entity, designed to provide reasonable assurance regarding the
achievement of objectives in the following (2 CFR Section
200.61):
a) Effectiveness and efficiency of operations
b) Reliability of reporting for internal and external use; and
c) Compliance with applicable law and regulations
91. 91
• Valuation (Actuarial) Date: Date TOL is measured. (Every 2 years AND
no more than 30 months +1 day prior to FYE.) TOL rolled forward to
Measurement Date.
• Measurement Date: Date NOL is measured. Look back no more than 12
months from FYE. MD is typically OPEB plan’s prior year end.
Valuation Date
June 30, 2015
Employer
Fiscal Year End
June 30, 2018
Plan Year End
(Measurement Date)
June 30, 2017June 30, 2016
145. 145
GASB 73 - Accounting and
Reporting for Pension Plans not
within the scope of GASB 68 and
Amendments to Certain Provisions of
GASB 67 and 68
146. 146
GASB 73
• Applies to pension plans not within the scope of GASB 67 and 68,
with certain modifications
• Plans that are not held in trust do not have any assets
accumulated to offset the TPL and there are no separately issued
plan financial statements
• Requires that footnote information similar to GASB 67 and 68 be
included
• Any assets held to pay pension benefits should be reported as
assets of the employer
147. 147
GASB 73
• Discount rate – yield or index rate for 20-year tax-exempt bonds with
average rating of AA/Aa or higher
• Clarifies certain provisions of GASB 67 and 68 to provide that:
• Information about investment-related factors that you can control
• Information about external, economic
factors should not be presented (for
example, changes in market prices)
150. 150
GASB 77
• Tax abatements are widely used by state and local governments to
encourage economic development
• Note disclosures required:
• Distinguish between government’s OWN agreements and agreements
by OTHER GOVERNMENTS that affect the reporting entity
• Can be individually disclosed or aggregated
• Organized by abatement type or program (e.g. income tax vs. property
tax incentive)
• Disclosures required from the date of agreement and should continue
through the abatement expiration date
152. 152
Not a State or Local Government Pension Plan
Provide benefits to both Government and Non Government
employees
No identifiable predominate Government employer
153. 153
GASB 80 - Blending Requirement for Certain
Component Units
Effective Date: June 30, 2017
170. 170
1. Securing the IT environment
2. Managing and retaining data
3. Managing IT risk and compliance
4. Ensuring privacy
6. Managing System Implementations
7. Preventing and responding to computer fraud
10. Managing vendors and service providers
http://www.aicpa.org/InterestAreas/InformationTechnology/Resources/TopTechnologyInitiatives/Pages/2013TTI.aspx
Orange text are all
PCI related
183. 183
the controls are
implemented correctly, operating as intended, and producing the
desired outcome
Categorize
Select
Implement
Assess
Authorize
Monitor
187. 187
“Ransomware is a type of malware installed on a computer or
server that encrypts the files, making them inaccessible until a
specified ransom is paid. Ransomware is typically installed
when a user clicks on a malicious link, opens a file in an e-mail
that installs the malware, or through drive-by downloads
(which does not require user-initiation) from a compromised
Web site.” Source FBI