K12 education’s pace of change has accelerated since the onset of the pandemic.  As the pace of direct effects of the pandemic are slowing, Districts are beginning to assess how education will progress into its next chapter.  This involves decisions in the areas of budgeting, operations, the classroom experience, educational support services, business office operations, and school security.  As one-time revenues from a myriad of sources end in 2024, schools are beginning the process of managing the funding cliff, including decisions regarding programs and services that will continue using recurring sources.  In addition, the new  legislature will likely create new program and funding priorities for the State, which will directly impact school services.  The health of the School Aid Fund will have a significant impact on these decisions.  This all means reporting on and auditing of school districts continues to be very challenging.  In addition, year 2 of the Lease Standard (GASB 87) along with implementation of Subscription Based IT Arrangements (GASB 96), implemented in 2023, and the audit Evidence Standard (SAS 142) will impact audit planning, the scope of the audit, and reporting.  Join expert Eric Formberg to get updated on the implications from these and other changes in school district accounting, auditing, reporting, the single audit and implications from changes in State and Federal funding and oversight. The session provides a solid foundation for auditing school districts and a focus on the audit and accounting implications from changes in the school environment, changes to the 2023 Compliance Supplement, and updates to the School Audit Manual. The session will also focus on GASB 96 implications for SBITA auditing and reporting as well as our focus on GASB 75 (OPEB) and GASB 68 (Pension), including the accounting requirements, ORS tools, and related audit requirements for school districts.  the session will include discussion of updates impacting school audits to AICPA Governmental Accounting and Auditing Guide, AICPA Single Audit Guide, Michigan School Audit Manual, and Michigan School Accounting Manual (1022 Manual). The session will also focus on implications from school funding changes.  Ultimately, the session will assist audit teams to effectively plan, execute, and conclude the audit in a cost-effective manner.

PRICING DETAILS
Register early to take advantage of the best price! Please note, discounted pricing is already reflected in the online price. No promo code is needed.
Through May 19: $380 MICPA Members / $530 Non-Members
May 20 - June 2: $400 MICPA Members / $550 Non-Members
June 3 - June 16: $420 MICPA Members / $570 Non-Members

Prerequisites:
None

Advanced Preparation:
None