Financial Reporting Services for Local Government
This professional service can be tailored to meet your specific needs. Whether you are new to your position and have never prepared financial reports before or you wish to use Vision PS as a component of your financial report review process, we can tailor the reporting services to meet your needs.
Vision PS Prepared Financial Report:
Vision PS will prepare the Annual Financial Report that will meet compliance standards prescribed by the State Auditor's Office (BARS) and ready for your internal review process. Report includes all required:
· Financial Statements (C4/C5/C2 or C1)
· Notes to Financials
· Supplemental Schedules (Schedule 04 - 22, if applicable)
· Cover & transmittal
· Table of Contents and fund key for managerial fund presentation
Vision PS Review:
Vision PS can act as a component of your financial statement review process. We will review the draft "cash basis" annual financial report that you have prepared with attention to all of the details to assure accuracy and compliance with the State Auditor's Office BARS prescriptions. The review includes:
· Comprehensive review of annual financial report
· Financial Statement analysis with a focus on appropriate fund presentation
· Notes to Financials
· Supplemental Schedule review with options available for a more in-depth review of:
Schedule 16 - Federal, State or Local Assistance and Schedule 22 - Audit Assessment
SAS 115 INTERNAL REVIEW (Statement of Auditing Standards)
Vision PS can assist you with developing the internal controls needed to comply with this audit standard. The audit standard requires local government to have procedures in place that will assure accuracy of the financial statements and minimize the potential for a material misstatement. This service will include:
· Review of current procedures
· Recommendations and assistance with the development of the required protocols
· Presentation of Financial report to management: Mayor, Council and/or Finance Committee
The success and accuracy of the annual financial report lies in the preparation. A comprehensive bank reconciliation will be completed on all reporting services to assure accuracy of the financial statements and to minimize the potential for misstatements in the reports. Download Financial Reporting Services .pdf