News & Insights

Lease & Subscription Accounting – GASB 87 & GASB 96

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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)

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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

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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)

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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

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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 […]

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