Governmental accounting standards require the use of fund accounting and accounting for changes in components of fund balance. This makes accounting for governments a bit more complicated than traditional accounting for businesses. On top of that, your staff are busy and often don’t have the time to perform critical reconciliations and account analyses and adjustments. The end result is that erroneous transactions do not get detected and corrected in a timely manner, causing your funds’ true financial positions to be incorrect.

Blue Star can help you clean up your books and maintain them in good order throughout the year. This improves the reliability of the financial reports being generated so that managers, superintendents, and board and committee members can make better informed decisions.

We can work with your finance staff by reviewing accounting entries, making necessary adjustments, and providing feedback on how to avoid future errors. We can also perform monthly account reconciliations for bank accounts, investment accounts, tax receivables, payroll liabilities, interfund transfers, and interfund balances.

Blue Star can further help your finance staff with closing the books at the end of the fiscal year and preparing for the annual audit. This includes making all necessary year-end adjustments, gathering supporting documentation for material balances, providing auditors with trial balances, completed journals and general ledgers, and answers to their questions.