GASB 68 – Accounting and Financial Reporting for Pensions
This is a big one! Talk to us to learn if it will affect your financial reporting, and if it will, what you need to do to prepare.

AICPA Government Brief

Summary of Statement 68 on the GASB website

Forms 1099
The IRS has made backup withholding and the obtaining of TINs a focus of their reviews. Do you have completed W-9s forms? Do you perform backup withholding when it is required? Do you have exposure for penalties as well as under-withholding or no withholding? You should be reviewing your process around gathering TINs from your vendors to make sure you are complying with IRS regulations and that you are aware of the rules of withholding when you don’t have correct documentation.
Written Accounting Policies
Every county and local unit of government in Michigan, from the smallest to the largest, must establish and maintain the following basic accounting records:

• The Uniform Chart of Accounts

• Controlled numbered official receipts

• Controlled numbered official checks

• A detailed receipt journal

• A detailed disbursement journal

• A general ledger

The State of Michigan recommends that you “Make sure that policies and operating procedures in every department are written down and communicated to employees. Such documentation provides day to day guidance and will make training easier”. As a CPA and an auditor I agree!

Accounting Procedures Manual for Local Units of Government in Michigan


Douglas Wohlberg CPA

2496 84th Street SW, Byron Center, MI 49315

Douglas Wohlberg CPA

Douglas Wohlberg CPA

2496 84th Street SW, Byron Center, MI 49315