Fragmented local governments

A good source for data about numbers of governments by states, as well as historical growth of these governments. These are called special districts, or special purpose districts 
http://www.governing.com/blogs/by-the-numbers/local-government-consolidation-fragmentation.html

Illinois Illinois, what you gonna do?

"By the rivers gently flowing Illinois, Illinois; O'er thy prairies verdant growing, Illinois, Illinois,  Comes an echo on the breeze, Rustling through the leafy trees, And its mellow tones are these, Illinois, Illinois, And its mellow tones"......

are screaming "How are you going to address these fiscal issues"?    Standard and Poors  yesterday downgraded the bond rating with the fair state (described above in idyllic terms in our state song) - the state that has the worst pension funding of any other state, among a host of other problems.  That is my pension we are talking about, so I have no answers, only questions.   How to fix this?  http://www.bloomberg.com/news/2012-08-29/illinois-debt-cut-by-s-p-after-lack-of-action-on-pension-funding.html

Nice summary of GASB pension changes

Thanks to BKD for this thorough and organized summary.  http://www.bkd.com/articles/2012/gasb-significantly-changes-pension-accounting-and-reporting.htm

Issues Facing Tax-Exempt Organizations

House Ways and Means Subcommittee Discusses; BKD summarizes the two hearings this summer. 

http://www.bkd.com/articles/2012/committee-on-ways-and-means-discusses-issues-facing-tax-exempt-organizations.htm

IRS focusing on UBIT in 2012

This short summary by the firm BKD is helpful update for Unrelated Business Income that some Nonprofits  may see come into focus this year.  http://www.bkd.com/articles/2012/irs-focuses-on-unrelated-business-income-for-2012.htm

AICPA recommended changes for 990 form

The documents shows the changes the AICPA would like to see to the nonprofit tax return form.  http://www.aicpa.org/interestareas/tax/resources/exemptorganizations/advocacy/downloadabledocuments/aicpa-08.16.2012-f990-instruct-cl.pdf

More California municipal bankruptcies

are likely ahead according to Moody's http://www.businessweek.com/ap/2012-08-17/moodys-more-calif-dot-cities-at-risk-of-bankruptcy

GASB moving "in the right direction"

according to David Walker, former U.S. Comptroller General in terms of the pension area.  http://www.politico.com/news/stories/0812/79821.html

NFP guide ready for comments

Made available by AICPA.  Comments are due by Oct 15, 2012  http://journalofaccountancy.com/News/20126226.htm

New Mexico Finance Authority scandal update

Terminating the contract to investigate, citing the state auditor can do this....however Moody's had originally stated an opinion of the benefit of that.   Transparency is an important consideration in this case.  http://accounting.smartpros.com/standard/IMA/IMA_0812c.html

Worrying about the post office

The Republicans plan reform  http://thehill.com/blogs/on-the-money/1007-other/242269-lawmakers-uncertainty-over-post-office-finances-delaying-reform-bill

San Bernadino files Chapter 9

Since June 28, 2012 (in a period of just over a month) San Bernadino is the third California city to seek bankruptcy protection.   http://www.bloomberg.com/news/2012-08-02/san-bernardino-california-files-for-bankruptcy-protection-2-.html