- No topic in government finance is more controversial right now than employee pensions. Recognizing this trend, the Governmental Accounting Standards Board (GASB) has issued Statements No. 67 and No. 68 that document upcoming changes in the accounting and financial reporting for pensions by governmental entities.
- With the economy in distress for the past several years, state and local governments remain under tight budgetary pressure. It is no surprise that unforeseen fiscal problems have increased the risk of fraud in municipal securities.
- The Public Service Commission of Wisconsin (PSCW) announced on May 23 the approval of changes to the Uniform System of Accounts (USOA) for municipal electric, water and sewer utilities related to the accounting for debt issuance costs.
- Over the past decade, we have seen the widespread selection and deployment of enterprise resource planning systems (ERP) in government.
- On April 15, 2013, the Internal Revenue Service (IRS) provided guidance, (IRS Notice 2013-29), relative to the "begun construction" requirement for facilities producing electricity from wind, biomass, landfill gas, municipal solid waste and certain other qualified energy sources to qualify for the Production Tax Credit (PTC) and Investment Tax Credit (ITC) under the American Taxpayer Relief Act of 2012
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