State of the States, State Budget Construction, GASB Updates & ARPA Treasury Reporting
September 15th, 2022
8:30 a.m. – 12:25 p.m. E.T.
Register
At the end of the session, you will be able to:
State of the States – Trends Impacting State Government Finances and Internal Controls
- Identify current key issues impacting state financial professionals
- Identify solutions being implemented to address the impacts of key issues
State Budget Construction
- Identify the process by which the Executive Branch develops its proposed State budget
- Describe the role that Federal funding plays in Vermont’s budget
- Recognize the nature of limited or one-time sources of funding, and of changes in revenue forecasts
- Describe the process by which the Legislature reviews the Executive branch’s proposed budget before adopting the state budget
- Identify key areas of current state public investment
GASB Update
- Recognize new accounting standards that need to be applied
- Discuss how to prepare for the new subscription-based information technology arrangements standard
- Identify new accounting standards that have been issued but are not yet effective
Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) Funded by ARPA – Treasury Reporting and General FAQ’s
- Identify applicable sections of the Treasury portal that must be reviewed and completed
- Recognize common concerns and best practices for addressing them
Schedule
8:30 – 8:35 a.m. Welcome, housekeeping, including CPE info on how to obtain GIB credits, Introductions
8:35 – 9:25 a.m.– State of the States – Trends Impacting State Government Finances and Internal Controls
Instructed by Jim Piotrowski
This session will discuss current key issues impacting the management of state finances as well as the actions being implemented by financial professionals in state government to address such issues.
9:25 – 9:35 a.m.– Break
9:35 – 10:25 a.m.– State Budget Construction
Instructed by Adam Greshin & Sarah Clark
This session will address the fundamentals of State budget development. Discussion will include: the sources of funds (State and Federal) for the State budget, the process of budget development by both the Executive and Legislative branches, consideration of permanent and limited time funding sources, key investment areas in the current spending environment, several examples of programs that that expanded during COVID and the future funding and programmatic issues presented by them, and more.
10:25 – 10:35 a.m. – Break
10:35 – 11:25 a.m. GASB Update
Instructed by Heather Plitt
This session will address understanding and implementation of new GASB accounting pronouncements
11:25 – 11:35 a.m.– Break
11:35 – 12:25 p.m. Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) Funded by ARPA – Treasury Reporting and General FAQ’s
Instructed by Hannah York & Shawn McGoldrick
This session will cover the latest guidance available from the U.S. Department of the Treasury on Coronavirus State and Local Fiscal Recovery Funds and how to report in the Treasury portal. We will also discuss frequently asked questions related to general ARPA grants management.
Who should attend this program: Accounting and business professionals interested in obtaining information related to State of the States, State Budget Construction, GASB Updates & ARPA Treasury Reporting State of the States, State Budget Construction, GASB Updates & ARPA
CPE
Prerequisites: None
Program level: Overview
Advance preparation: None
Delivery method: Group Internet Based
Recommended CPE: 4 credits (2 Credits Accounting (Governmental); 2 Credits Specialized Knowledge)
NASBA Statement
CliftonLarsonAllen LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
CPE Sponsor Policies
For more information regarding CliftonLarsonAllen’s CPE Sponsor policies, contact Elizabeth.spencer@claconnect.com