|
|
|
 |
|
Kentucky GASB Reporting Solution
Regulatory changes in governmental reporting don’t have to be costly and time consuming, not if the right tools are in place to make the job easy. Such is the case with the GASB 34 regulations and the Kentucky GASB Reporting Solution. Designed by Kentucky Finance representatives in the KEEIS® Consortium, with technical assistance from the GASB Auditing staff of Strothman & Company, this software takes the confusion and tedious work out of GASB 34 reporting. Both district Finance Officers and Kentucky CPA firms are positively impacted by the savings provided by the software.
Standard Reporting
With simply 3 mouse clicks the software produces eleven of the most difficult GASB statements listed below:
· District Wide Net Assets
· District Wide Activities
· Proprietary Fund Revenues/Expenses/Changes
· Proprietary Fund Cash Flows
· Proprietary Fund Net Assets
· Fiduciary Fund Changes in Net Assets
· Fiduciary Fund Net Assets
· Governmental Fund Balance Sheet
· Governmental Fund Revenues/Expenses/Changes
· Nonmajor Governmental Combining Balance Sheet
· Nonmajor Governmental Combining Revenues/Expenses/Changes
All eleven statements are contained in a single Excel® spreadsheet containing a worksheet for each statement. Since you can choose the reporting year, you will be able to recreate prior year’s statements to establish beginning figures. To view samples of the spreadsheet, click on Sample Reports on the left sidebar.
Changes Made Easy
Every Kentucky district follows the state standards for their chart of accounts structure, yet district specific needs warrant district specific special accounts. The software allows for special handling of any account or set of accounts to be redirected in the GASB reporting. No matter how the information is stored in the General Ledger, the information on each statement can be printed with 100% accuracy.
Including information held outside MUNIS® is also not a problem. The software has features for including non-MUNIS data and will prompt you for this data, allowing you to follow the prompts rather than having to become a GASB expert.
Journal entries can also be made in MUNIS to incorporate these adjustments into the statements. Since generating the spreadsheets by the software is so quick and easy, simply regenerate your spreadsheets after making your journal entries and you are back in business with all of your non-MUNIS data included in your reporting. Of course, you or your auditor can alternatively adjust the spreadsheets manually at any time. Regardless of how you make your adjustments, you produce your GASB statements with minimal effort and expense.
Auditing Simplified
Creating eleven GASB statement spreadsheets linked together by hand is not a simple task…not unless you use the Kentucky GASB Reporting Solution. Each statement is fully automated with formulas. No manual work is required, just cut & paste. In addition, complete audit trails are printed to fully disclose how each figure on each statement is accumulated. Only your manual adjustments need to be tracked separately. All other entries are made in MUNIS.
Sick Leave Liability Calculator
Calculating the sick leave liability for your district is a requirement with the GASB regulations. As part of the Kentucky GASB Reporting Solution, Sick Leave Liability Calculator software is available at no charge and will save the time required to manually calculate this liability. Additional information on this software can be found on the GASB Home Page.
Don’t let GASB get you down. Take advantage of the best GASB tools available, starting with the Kentucky GASB Reporting Solution. Contact us today for the help you need and let us make your job quite a bit easier.
|
|
 |
|
PSST,
LLC,
303 Middletown Park Place Suite B, Louisville, KY 40243
Telephone:
1-800-488-7395 Fax: 1-502-244-9229 |
|