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Governmental Services

Local governmental organizations operate in a highly regulated and heavily scrutinized environment. Partnering with an audit, accounting, and advisory firm with the specialized knowledge and experience necessary to help navigate the challenges of this industry is essential. LB Carlson’s governmental services team offers a full menu of expert services to assist our clients in meeting and exceeding reporting and compliance requirements, maximizing efficiencies, and maintaining the public trust.

Assurance and Attestation Services

In the public sector, nothing is more important to the credibility of local governmental organizations than exhibiting sound financial management and regulatory compliance over the use of the public funds with which they are entrusted. LB Carlson annually provides assurance and attestation services to approximately 100 such organizations, including: cities and townships, school districts and cooperatives, charter schools, police and fire relief (pension) associations, and numerous other joint ventures and commissions. Our assurance and attest services include:

  • Audit and attest services in accordance with U.S. GAAP and governmental auditing standards
  • Single Audits of federal awards expenditures, including compliance with the Uniform Guidance
  • Audits of compliance with Minnesota laws and regulations
  • Examinations of forecasts and other agreed-upon procedures engagements
  • Management reports that provide concise summaries of audit results, insightful observations and recommendations for internal control or operational efficiency improvements, and contextual analysis of operating results for management and governance.
  • Effective presentations of audit results at public meetings

Advisory services

We offer a wide range of customized advisory services specifically tailored to meet the needs of our governmental clients, including:

  • Revenue projections
  • Budget development and review
  • Implementation of governmental accounting pronouncements
  • Grant compliance and reporting
  • Internal control evaluations
  • State regulatory reporting and statutory compliance requirements
  • Debt service funding plans
  • Investigations of fraud or misuse of public funds
  • Construction project analysis
  • Special legislation consulting and support

Tax Services

  • Preparation of federal tax returns, including federal Forms 990, 5500, 1096, and 1099
  • Assistance with payroll and benefit tax requirements

These are only some of the services we offer. Please contact LB Carlson’s governmental services team to see what we can do for you!

Blog Posts

SBA streamlines forgiveness for smaller PPP loans

August 19, 2021

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many borrowers are nearing a critical deadline regarding their applications for forgiveness.

IRS issues ERC guidance as Congress mulls early termination

August 18, 2021

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA).

Quickbooks Common Mistakes

August 17, 2021

An accounting system provides a clear view of the overall financial health of a company. Setting up an accounting process is important because it provides organization for a business, provides an understanding of a business’s cash flow needs, and can help identify and implement tax reduction strategies before year end.  

Is your business underusing its accounting software?

August 17, 2021

Someone might have once told you that human beings use only 10% of our brains. The implication is that we have vast, untapped stores of cerebral power waiting to be discovered. In truth, this is a myth widely debunked by neurologists.