A new law changes the claims declaration process for charter cities and allows charter cities to make payments by electronic funds transfer (EFTs). The … [Read more...]
Student Activity Fund Changes
August 15, 2019
The Governmental Accounting Standards Board (GASB) issued Statement No. 84, Fiduciary Activities, which revises and establishes new financial reporting … [Read more...]
The Gift Law Q and A
August 15, 2019
Q. Can gifts be made to local officials (such as a board member, superintendent, principal, council member, mayor, etc.)? A. Gifts cannot be made to local … [Read more...]
Appropriate Use of Public Funds
August 15, 2019
Frequently Asked Questions 1. Can your entity have an employee-recognition program? Yes, with some restrictions. (Minn. Stat. § 365.10, Subd. 12 and § … [Read more...]
Preparing for Lease Accounting
August 15, 2019
The Governmental Accounting Standards Board (GASB) issued Statement No. 87, Leases, which outlines new requirements for governmental entities when it comes to … [Read more...]
Willmar 0.5 Percent Sales and Use Tax and $20 Vehicle Excise Tax
August 14, 2019
Effective October 1, 2019, Willmar will have a new 0.5 percent sales & use tax, and $20 vehicle excise tax. The 0.5% sales tax applies to retail … [Read more...]
Internal Control Tips
August 14, 2019
Check out these four tips to improve your internal controls. Monthly Review of Pledged Collateral. We recommend a review is performed to ensure the entity … [Read more...]
DOL Proposes New Overtime Rule
August 12, 2019
The Department of Labor has released a new proposed rule to increase the minimum salary that an employee must earn to be exempt from minimum wage and overtime … [Read more...]
3 Great Charitable Deduction Ideas
July 18, 2019
Despite what you may have heard from friends or family, you can still claim generous tax benefits for charitable contributions. Here are three prime examples of … [Read more...]
2 Must-Dos When Hiring Your First Employee
July 18, 2019
Maybe you started a new business — solo or with a business partner. Now the business is growing and there's just too much to do. You find yourself working long … [Read more...]
