On June 12, 2018 the State Board of Accounts announced new reporting requirement for all governmental units. The objective of the reporting requirement is to provide a more efficient and cost effective audit process by doing more monitoring, planning and audit work prior to coming on site. The new requirements, some of which are already required annually, are summarized as follows:
The new requirements will be effective for local units, with the exception of schools and counties, beginning July 2018 and July files will be required to be uploaded into Gateway no later than September 15, 2018. Going forward the documents must be uploaded no later than the 15th of the second month following the month they are for. Failure to upload the documents when they are due or in a timely manner may cause delays in completing the audit.
For more information on this topic, or to learn how Baker Tilly municipal specialists can help, contact our team.
Baker Tilly Municipal Advisors, LLC is a registered municipal advisor and wholly-owned subsidiary of Baker Tilly Virchow Krause, LLP, an accounting firm.