COVID-19 Resources for Government Financial Departments
The COVID-19 pandemic has affected local government nationwide. We understand there are numerous items keeping you up at night and everyone is trying to take one issue at a time. Unfortunately, during this time the budgets for next year are being made, with large amounts of uncertainties, and now the current year is coming to a close with even more uncertainty. Here are some quick link COVID-19 resources to help focus on possible situations you may or may not have considered:
GASB Guidance
GASB has made their Governmental Accounting Research System (GARS) available free of charge for reporting on different scenarios that are expected to impact local governments. Items to consider include, Capital Asset impairments, Demand bonds, Extraordinary and special items, Fair Value measurement, Going concern considerations, Revenue and expense/expenditure recognition, and troubled debt restructuring. The GARS link can be found at https://gars.gasb.org/ GASB has launched a “Toolbox” Page that provides more guidance and professional organization links which can be found here: GASB Toolbox
Professional Organizations
Here are a few direct links to professional organization’s COVID-19 resource pages that are available to keep you up to date nationwide.
AICPA – https://www.aicpa.org/news/aicpa-coronavirus-resource-center.html
GFOA – https://www.gfoa.org/gfoa-resource-center-coronavirus-response
County Governments –
- National Association of Counties: https://www.naco.org/resources/county-governments-and-covid-19-key-issues-and-resources
City Governments –
- National League of Cities: https://covid19.nlc.org/
- League of California Cities: https://www.cacities.org/Policy-Advocacy/Hot-Issues/Coronavirus-Resources-for-Cities
Utility Governments –
- American Public Power Association – https://www.publicpower.org/topic/covid-19
LSL Support
We are always here for you to help work through any situation that impacts your local government. As new items come up, we will continue to keep you updated and provide support with your technical needs. We will get through this together. Feel free to contact us about anything.
