News & Insights
Lease & Subscription Accounting – GASB 87 & GASB 96
February 24th, 2022
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By Jeff Straus |
Audit
Most organizations today leases equipment and subscribe to cloud and IT solutions. When the payments for lease or subscription services are expensed, there is little visibility into your schools’ obligations […]
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Accounting for the Fall 2021 Child Care Relief Funds (aka Child Care Sustainability Grant)
February 24th, 2022
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Audit |
COVID-19 Relief Services
Beginning the week of January 10, 2022, districts that applied and were approved for Fall 2021 Child Care Relief Funds began receiving these grant payments. Additional grant award amounts will […]
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Accounting for the Receipt and Expenditures of Emergency Connectivity Fund (ECF) Funding
February 24th, 2022
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Audit |
COVID-19 Relief Services
Congress authorized the Emergency Connectivity Fund (ECF) as part of the American Rescue Plan Act of 2021 (CFDA/ALN 32.009). The ECF Program will cover reasonable costs of laptop and tablet […]
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Accounting for Food Service-related Revenues and Expenditures (Updated)
February 24th, 2022
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Audit |
COVID-19 Relief Services
NEW (January 2022): Accounting for Pandemic EBT (P-EBT) Local Costs Grant The P-EBT Local Level Administrative Cost Grant is a federal award (CFDA#10.649). Accounting guidance for these funds is as […]
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Accounting for Emergency Relief Funds Under the American Rescue Plan Act
February 24th, 2022
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Audit
Revenue and Expenditure Recognition Considerations Elementary and Secondary School Emergency Relief (ESSER III) Formula Funds received under the American Rescue Plan (ARP) Act through MDE should be recorded as federal […]