S&P lowers Illinois Bond rating

What again?  I thought this just happened back in August.   Are the citizens noticing this?   http://www.pionline.com/article/20130125/DAILYREG/130129916/pension-woes-drive-moody8217s-sp-to-lower-illinois8217-bond-ratings

No deal on sequester in sight

Also consider viewing the short video that has the planes in the backdrop of 1.8 billion......It is on the left side of the page. 
 http://www.washingtonpost.com/politics/deep-spending-cuts-are-likely-lawmakers-say-with-no-deal-on-sequester-in-sight/2013/01/29/286d4f94-6a1f-11e2-ada3-d86a4806d5ee_story.html

Citizen-Centric Financial Reporting award

AGA presented the city of Scottsdale, AZ with a Certificate of Excellence in Citizen-Centric Reporting for the third consecutive year.   Merely four pages in length but a snapshot of visuals to tell specific metrics related to the city.  Interesting section of comparables

http://www.scottsdaleaz.gov/Assets/Public+Website/finance/Archive/FY+2011-12/FY_2011-12_Annual_Report.pdf

2 BKD Nonprofit articles

The one article is related to Schedule K of the 990 form as a recent impetus for audit examinations....look out hospitals this year.  http://www.bkd.com/articles/2013/schedule-k-responses-become-focus-of-recent-irs-enforcement-examinations.htm

The second deals with PILOTs and an explanation of the balancing act for government's wanting tax revenue from the impact of non-profit entities.  http://www.bkd.com/articles/2013/balancing-the-interests-of-municipalities-and-nonprofits-through-pilots.htm

U.S. government 2012 audit

indicates another year without a clean audit opinion.  

http://www.fiercegovernment.com/story/federal-fiscal-house-not-order/2013-01-22?utm_medium=nl&utm_source=internal


http://www.govexec.com/management/2013/01/government-again-fails-get-its-financial-books-order/60744/

Pew report about underfunded city pensions and health care

 obligations.   Used 2009 data and was for 61 cities - result was 217 billion dollar gap.   http://www.pewstates.org/uploadedFiles/PCS_Assets/2013/Pew_city_pensions_report.pdf

Redundant inspections in the DOJ

This article details how the Office of Federal Detention Trustees and the U.S. Marshal's Office, both components of the Department of Justice had overlap in their inspections of jails and prisons.   http://www.fiercegovernment.com/story/doj-components-redundantly-inspected-dozens-same-jails-and-prisons/2013-01-14?utm_medium=nl&utm_source=internal

Federal government and the deficit

Immediate action is needed said 75% of those responded.   Also 54% of members of the AICPA surveyed in December 2012 said top economic priority should be to get the deficit under control.    This article discusses those survey results and also provides links to helpful materials in attempting to understand the problem.  http://www.journalofaccountancy.com/News/20137139-deficit.htm

GASB release Statement 69

GASB Statement No. 69, Government Combinations and Disposals of Government Operations will be available on the GASB website in February.  This article has some highlights.  http://www.journalofaccountancy.com/News/20137138

FASB trying to Clarify Fair Value Disclosure in

Nonpublic Entities.    Stakeholders had pointed out issues of inconsistency with 2011 amendment that had occurred. FASB intends to address as quickly as possible.   Comments are for a limited period of time as FASB seeks a responsive due diligence process.   http://journalofaccountancy.com/News/20137128.htm

FASAB Issues Standards on Asset Impairment

You will see standard SSFAS 44 at this link.   The standard is 72 pages in length and was released Jan 3, 2013.   It lets users see impairment as it occurs and the impact on the reporting entity.  http://www.fasab.gov/accounting-standards/authoritative-source-of-gaap/accounting-standards/fasab-handbook/

Difficulties in assessing government success

especially at the state level.   Complexity and commingling funds from other sources are part of the problem.  http://www.governing.com/columns/col-difficulties-of-measuring-government-success.html

States that recovered most and least from the

recession since the 5 year anniversary of the Great Recession.   http://247wallst.com/2013/01/03/the-states-which-recovered-most-and-least-from-the-recession/