On Thursday, June 22, Nisivoccia LLP hosted it's annual "Prepare for a Successful Audit" Seminar for Board of Education clients. The seminar was held at the Meadow Wood Manor in Randolph, and began at 9:00 a.m. This year, Valerie Dolan, CPA, Partner, Man Lee, Principal, CPA, Heidi Wohlleb, CPA, Partner, Kathi Mantell, CPA, Partner and Marcia Geltman, CPA, Partner presented on various topics.
Valerie kicked off the seminar by talking about what items should be ready for the audit, key dates to keep in mind, common delays of an audit and some FAQ's.
Man Lee then took the floor to speak on Special Revenue Fund Accounting. Man covered grant awards, intergovernmental receivables vs. payables, TPAF and FICA Reimbursements and single audits.
Heidi Wohlleb presented all information on the Capital Projects Fund 123. She included what projects should be accounted for in the Capital Projects Fund, revenue accounts, temporary financing, SDA Grants and unexpected project balances.
Kathi then went on to talk about the management and oversight of Student Activities Funds. Kathi covered what a Student Activities Fund is, what it isn't, auhorization and responsibilites of the funds, collection/receipt/deposit of the funds, disbursement of funds and reconciliation/tracking of funds.
Marcia Geltman then presented 403(b) Plans, 457(b) Plans and Final Pay Plans.
Once all presentations were finished, guests were welcomed to stay and eat lunch with the Nisivoccia LLP Staff.
This year's Audit Seminar had a great turn out, with total of around 75 attendees, many of which attend the seminar each year.