Thought Leadership Articles |
Our Thought Leadership articles offer you monthly insight on various industry topics, updates and trends.
10/19/2012
So The District Has Received Its Audit…..Now What?
By now, the External Auditor will have met with the Audit Committee and/or the Board of Education to go over the district’s audited financial statements and related letters and documents. Most likely, your auditor shared with you…
09/18/2012
Financial Literacy – Part II
As noted last month in Dermody, Burke & Brown’s “Financial Literacy – Part I” thought leadership email, financial literacy and knowledge of not-for-profit organizations’ management stakeholders are essential in regard to the…
08/28/2012
How much is too much General Fund Unassigned Fund Balance?
As summer starts to wind down, it has become audit season. Soon, the external auditors will be presenting to the Audit Committee and Board of Education the district’s financial statements. Typically, as part of their presentation, the…
08/21/2012
Financial Literacy – Part I
Wikipedia says that “financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding…
05/15/2012
School's Out for Summer
Remember the old classic rock song “School’s Out for Summer, School’s Out Forever”? Well, unlike the song, school is not out forever for the Board of Education. As a board member, the summer months offer an opportunity to prepare for…
02/27/2012
Information Technology Risk Considerations
The February 2012 issue of Tone at the Top, a newsletter produced by the Institute of Internal Auditors, had an excellent article regarding Audit Committees entitled "Rest Assured." In that article, a survey of 250 audit committee members…
02/22/2012
Retirement Plan Fees Disclosure Article
New Retirement Plan Disclosure Rules: What Employers Need to Know By: Madelyn H. Hornstein, CPAChief Executive Offer
01/12/2012
Evaluating Internal and External Audit Proposals
So, the district's board of education/audit committee has sent out a request for proposal for Internal Audit or External Audit services and has a stack of anywhere from 3 to 5+ proposals to sort through and evaluate. Now what?
09/22/2011
Now is the Time to Take a Look at You School District's Extraclassroom Activity Funds
The summer months have quickly passed and another school year has started. This means your district's extraclassroom clubs are resuming their activities. New central treasurers, student officers and faculty advisors may have already been…
07/13/2011
Financial Projections: A Critical Component of a District's Long Term Plan
When considering 3 to 5 year financial projections, some districts take the approach of Norman Vincent Peale: "If you want to get somewhere you have to know where you want to go and how to get there.
04/06/2011
Considerations to be Made After the Budget Cut
Due to cuts in state aid, many school districts are in the position where they have to budget for significant cuts to their staff. Whether by attrition or additional cuts in existing staff, school districts will have to conduct business…