Governments

Governments2018-11-12T15:41:28+00:00

CRI can provide your organization with a roadmap to financial and operational success.

Governmental entities face some of the toughest regulatory challenges of any sector. In addition to complex accounting models (consisting of up to three models of financial statement reporting: full accrual accounting, modified accrual accounting, and cash basis accounting) and federal and state grant requirements, they must also comply with ever-changing mandates from the Government Accounting Standards Board (GASB). These twists and turns impact accounting, administrative procedures, and reporting – and can seem overwhelming. However, a CPA and advisory firm with in-depth experience addressing governmental regulations and the increasing transparency requirements can potentially provide turn-by-turn directions to head you toward financial and operational success.

CRI serves hundreds of governmental clients – such as municipalities, school districts, and state agencies – with revenues ranging from less than $100,000 to more than $1 billion. We deliver a variety of cost-effective, comprehensive solutions, including:

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Plus, CRI recognizes that governing bodies have needs beyond a basic financial statement audit, and we can navigate you throughout this complex arena. For example, we provide accounting and compliance educational classes for governing bodies to address management’s use and interpretation of financial reporting—which allows your entity to operate more efficiently and effectively while making more educated decisions. Meanwhile, we steer our clients in the right direction by staying up-to-date on government standards through our membership with the American Institute of Certified Public Accountants’ (AICPA’s) Governmental Audit Quality Center.

Cleaning Up Single Audits with New Requirements

Complying with GASB Statement No. 77: Tax Abatement Disclosures

Government-Wide Statement of Activities

Gary McDaniel, Finance Director, City of Moultrie, Georgia
“During the 7 years we have worked with Carr, Riggs & Ingram, I have found that their team has tremendous expertise in local government financial operations. They have demonstrated a keen understanding of our risks and worked with our city officials to develop sensible solutions to mitigate those risks. Moreover, they have provided us with a number of suggested “best practices” in day-to-day operations and have helped document the way we do things. I can say without question that Carr, Riggs & Ingram has truly made a measurable difference for the City of Moultrie and its finance department. I would recommend them for any work for which they are under consideration.”

Solutions Simplified

Down-to-earth descriptions of our services.
Accounting & Auditing Services

Services Also Available for Governments

Governmental Uniform Grant Guidance and Single Audit

When a governmental entity receives funding from the federal government, the Office of Management and Budget’s Uniform Grant Guidance (the “Uniform Guidance”) applies, and when such funding exceeds $750,000 a Single Audit under the Uniform Guidance is required. The Uniform Guidance establishes rules and requirements for the expenditure of federal awards. Noncompliance with these rules and requirements may lead to penalties, sanctions, and repayment of grant funds received. CRI’s governmental auditors work with numerous entities subject to the Uniform Guidance across the spectrum of funding agencies and types of funding. We share this knowledge and experience with our clients throughout the Single Audit process, including advice on determining and understanding the compliance requirements that have a direct and material effect on the federal funding and related operations; suggestions for establishing, monitoring, and evaluating effective internal controls over compliance; and determining the potential impact of receiving new funding. Using an experienced and knowledgeable firm for Single Audit engagements is critical to soundly and effectively managing federal grant funding.

Advisory Services

Services Also Available for Governments

Governmental Budget Assistance

The budgeting process at a government entity can be very complicated mainly because of funding issues, departmental conflicts, and budgetary accounting basis differences. Many times, consultation with CRI’s governmental staff provides useful insight on the budgeting process. We are able to use our extensive knowledge of the governmental environment to assist in the creation of a budget and translate projections into accurate amounts for budget purposes. We can also support your assumptions by verifying calculations and budget theory as many times a final review is needed to affirm the budget.

Business Support & Transactions Services

Services Also Available for Governments

Governmental Accounting Assistance

Many governments face budget constraints that put pressure on an accounting staff, and CRI assists by offering economical solutions to support a government’s accounting department. Whether your entity needs one-time help with reconciliations, monthly recurring payroll services, or guidance in applying the latest GASB pronouncements, CRI can assist or bolster your accounting function. We understand the intricacies within a fund accounting environment, and we can deliver appropriate assistance for your entity under accounting methods unique to governments.

Governmental Financial Statement Preparation

CRI’s governmental financial statement preparation service is geared toward assisting governments with the preparation of their financial statements in conformity with GAAP and Governmental Accounting Standards Board (GASB) requirements. Reporting standards for governmental entities require financial statements to be prepared on both the modified-accrual basis for the funds and full-accrual accounting for the government as a whole. Many governments do not have personnel with the time or experience to prepare financial statements in accordance with standards, and in these instances, CRI is available to perform these services economically. After CRI prepares the financial statements, your entity will be able to provide these statements to an auditor or management.

Governance, Risk & Assurance Services

Services Also Available for Governments

FISMA Services

Doing business with the Federal government demands an understanding of the requirements that exist in an ever-changing landscape of IT legislation, regulation, and controls. Traversing the federal regulatory and legislative landscape can be complicated and time-consuming. CRI’s IT audits & assurance team can evaluate your current control posture against the Federal Information Security Management Act’s (FISMA’s) requirements, identify gaps, and provide remediation recommendations.

Governmental Single Audit Compliance Assistance

Local governmental entities rely heavily on federal grants as a supplemental source of funding. Whether funding is needed for capital asset purchases or for personnel costs related to specific programs, federal grant resources are valuable, but the related compliance requirements are often complex.  CRI can assist your organization in complying with grant regulations unique to federal grant awards – specifically requirements related to creating, documenting, and implementing internal controls over the handling of federal funds. CRI provides training and assistance for your staff on Single Audit compliance, documentation, grant reporting, and indirect cost calculations. CRI also furnishes guidance on the creation of your Schedule of Expenditures of Federal Awards, which is crucial for annual grant reporting.

Federal Single Audit requirements frequently change, as with the new Uniform Grant Guidance, and CRI is your resource for navigating the federal rules related to Single Audits. CRI offers assistance to your entity from the initial grant award through the completion of the grant reporting via expertise in grant accounting, internal controls, and regulation compliance.

IT Audits & Assurance Services