Insights

Filter By

Internal Control Tip: Loose Change and the Teachers Retirement System

November 2019 A more formal approach to reviewing your Reporting Employers (RE) Ledger Balances frequently should eliminate surprises when it comes to reporting and reconciling personnel costs.
Read More

Internal Control Tip: Is Your Room Clean?

October 2019 A cluttered balance sheet, like a dirty room, can bury issues in your financial wellbeing by housing erroneous or fraudulent entries similar to, dirty clothes piled on the floor.
Read More
Robert Allen

Fair Value Measurement: The Mandatory Performance Framework

September 2019 The world of valuation has at times been plagued by divergence in practice, which creates a level of confusion among those who are considered the audience for valuation opinions. 
Read More

Internal Control Tip: Shifting Our Controls for HB 3

September 2019 As we rethink our compliance with the advent of the new HB 3 requirements, let’s remember to revisit our controls over different types of expenditures.
Read More

Internal Control Tip: Sole Source Vendors - Are They Truly Your Only Source?

August 2019 Whether you are the director of purchasing or the chief financial officer, I would take an inventory of sole source vendors. If the number of sole source vendors is in the double digits, take a moment and ask what truly makes those vendors a sole source.
Read More
buy-sell agreements

New Inventory Valuation Guidance: No Change or Game Changer?

July 2019 he American Institute of Certified Public Accountants (AICPA) is in the final stages of developing a new Accounting and Valuation Guide on Business Combinations.  Because of diversity of practice, the task force decided to carve out the chapter dealing with fair value measurement for inventory assets.
Read More
Lupe Garcia CWA Headshot

Internal Control Tip: Journal Entries

July 2019 We are all familiar with the saying, “If you want something done right, do it yourself.” Although this saying can be true for many things, it does not apply to the preparing, approving, and posting of journal entries in a general ledger.
Read More

2019 Compliance Supplement Released

July 2019 The Office of Management and Budget (OMB) recently released the final and stand-alone 2019 Compliance Supplement which identifies federal program objectives, suggested procedures, and compliance requirements.
Read More

Internal Control Tip: Using Co-Ops

June 2019 We live in the world of Prime, which means many of us have traded in extreme couponing for convenient one-click shopping from your couch.  Whenever it comes to making purchases from cooperatives (co-ops), they have already done much of the extreme couponing for you.  This is why many of us might think we can go straight to a cooperative to make a purchase whenever we need something.
Read More
Robert Allen

Are Small Companies More Risky Than Large Companies?

June 2019
Read More
Celina Miller CWA Headshot

Internal Control Tip: Managing Your Vendor List

June 2019 The reason districts have internal controls is to address the “What Could Go Wrong?” question.
Read More
Celina Miller CWA Headshot

Internal Control Tip: The Schedule of Expenditures of Federal Awards

June 2019 Federal programs assist school districts and charter schools to carry out supplemental programs for its students. Without some of these federal grants, schools would not be able to speak about student success stories.
Read More

Internal Control Tip: Cybersecurity

May 2019 Cybersecurity and internal controls over information technology is becoming increasingly more important as information is stored digitally, data processing is automated, and more frequently third parties are engaged to access or manage information for your business.
Read More
Celina Miller CWA Headshot

Internal Control Tip: Electronic Payments

May 2019 Do you start adding up your retirement points every time you hear about a school district or other government was duped into wiring a six or seven digit sum to the wrong account and never to be seen again?
Read More

Buy-Sell Agreements: Concluding Thoughts

May 2019
Read More
Celina Miller CWA Headshot

Internal Control Tip: Student Attendance Checklist

May 2019 What goes through your mind when you read this statement from the Texas Education Agency’s Student Attendance Accounting Handbook (SAAH) Section 1.2?
Read More

Internal Control Tip: Controls Over Financial Super Users and User Rights

May 2019 Managing system access controls is a critical activity that will contribute to mitigating the opportunity for fraud.
Read More
Celina Miller CWA Headshot

Internal Control Tip: What's in Your Bank Account?

April 2019 From millions of dollars in state aid, property taxes and grants receipts to millions of dollars in disbursements for payroll and accounts payable, we should invoke our hawk-like behavior, especially if you are responsible for reconciling your bank accounts.
Read More
Dan Hernandez CWA Headshot

Internal Control Tip: Monitoring Summary of Finances

April 2019 To say that the State of Texas School Finance system is complex, is an understatement. Now imagine if your district only monitored the Texas Education Agency’s (TEA) Summary of Finances (SOF) a couple of times a year.
Read More

Internal Control Tip: Reimbursement Requests for Federal Funds

April 2019 Timely reimbursement requests for federal grants are very important to school districts, especially for cash flow purposes. And, even though drawing down funds is only a click away, it’s critical that school districts have written policies and procedures over the draw down process.
Read More
Sorry, there are no Insights that match your search terms.