Protecting Your District’s Ability to Sell Bonds or Other Debt

School Business Affairs (an ASBO International Publication), October 2012 Does your school district have more than $10 million in tax-exempt debt, inclusive of all outstanding bonds, certificates of participation, and other public debt issues with durations of more than nine months? If so, it must comply with the contractual requirements entered into under Securities and […]

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Avoiding the Hidden Rocks at Low Tide: Three Policy Considerations for Cash Flow Solvency

California Schools Magazine (Quarterly Publication of the California School Boards Association), Fall 2012 Imagine for a moment that you can’t breathe for want of oxygen. This is what an organization faces when it lacks adequate cash to meet payroll and other obligations. Accrual accounting and budgets have their place, but cash flow is the ultimate […]

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GASB Creates Single Source Pronouncement for Governmental Entities

Changes to Capitalized Interest Reporting Requires Retro-Active Adjustment Distributed by the California Community Colleges Chancellor’s Office (via List Serve), September 2012 The Governmental Accounting Standards Board (GASB) has issued a pronouncement aimed at simplifying the research process for governmental entities and their auditors. Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, […]

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Hollywood Motel Owner Loses $335K: How You Can Protect Yourself Against Financial Elder Abuse & Fraud

La Verne Community News, September 2012 Fraud. Elder abuse. Identify theft. These are ugly words in our society, but the need for aging adults to protect assets is increasing. Case-in-point, “Norma” was robbed of over $335,000 through fraudulent disbursements and check tampering in the last years of her life… Read the full article

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A Primer on National Tax Reform Proposals

Orange County Lawyer, August 2012 America is facing a cash flow crisis that politicians suggest can be solved with tax system reform. Voters are left to consider which plan strikes the right balance between “who pays?” and “how much?” The most commonly proposed alternatives to the current federal tax structure are the Flat Tax, the […]

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Closing or Repurposing School Facilities? A Guide to Applying GASB 42 for Fixed Asset Impairments

Declining enrollment and massive budget cuts at local education agencies such as school districts and community college districts have in some cases led to class consolidation. As a result, some districts are facing the unattractive choice to close or repurpose existing buildings. In addition to mitigating the effects of such changes for their students and […]

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Co-Owner Leaving the Biz? Part II: How to Avoid Costly Litigation and Shareholder Disputes in Process Buy-Sell Agreements

As discussed in the first installment of this article, when a co-owner departs a business, responsibly drafted buy-sell agreements are critical for ensuring that all parties are pleased with the value of their company. There are several types of agreements, all of which have common pitfalls that could lead to shareholder disputes and litigation. The […]

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