The entire point of accounting is to provide decision-makers with useful financial information. Often, in small and medium-sized governments, financial reporting throughout the year is limited to budget-to-actuals, while other decision-useful information remains unavailable. This harms the ability to make well-informed decisions. Blue Star can solve this problem by preparing interim balance sheets and income statements for all of the government’s funds so that up-to-date fiscal year activity can be reviewed and the financial position of every fund can be known at any point in time during the year.

We can also prepare summaries of cash flows in and out of the government. This is particularly useful to governments where cash flows are uneven throughout the year. Governments usually have large cash inflows between tax commitment and tax due dates, and smaller cash inflows the rest of the year. These inflows are not usually matched well with the cash outflows, which can vary greatly from month to month, particularly in months when large capital projects or capital acquisitions are being made. Knowing cash balances and the cash flows can help management plan appropriately for expenditures while also optimizing idle cash by taking advantage of current high interest yields.

Blue Star can prepare project financial statements, too, which can be used to report back accurately to grantors on how grant funds were expended. They can also be used for large capital projects where keeping track of project costs is of significant interest to management, board members, and taxpayers alike.

And, of course, we can prepare budget-to-actual reports so that management and board members can ensure they are staying in compliance with legally adopted budgets.

All of Blue Star’s financial statements are custom designed to help their users make decisions. We understand that the usefulness of a financial report is not solely in the data, but how the information is presented. Our reports are designed to be easily read and understood by highlighting data points that make a difference to decision-makers and eliminating unnecessary clutter.