Topics & Speakers
Government Benchmarking Survey Findings
John J. Gilberto, CPA
Partner, Cherry, Bekaert & Holland, L.L.P.

The Great GASB 54 / GASB Update
John B. Montoro, CPA
Partner, Cherry, Bekaert & Holland, L.L.P.

LGC Update
Sharon G. Edmundson, CPA
Director, Fiscal Management Section, State and Local Government Finance Division, North Carolina Department of State Treasurer

Understanding Internal Controls Management in a Changing Environment
John Richardson, CPA, CISA
Senior Manager, Cherry, Bekaert & Holland, L.L.P.

Panel Discussion
Best Practices and Thought Leadership for Municipalities, Counties and School Boards

Date
Wednesday, April 11, 2012
Registration Deadline:
Monday, April 9, 2012

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On Wednesday, April 11, 2012, CB&H Hosts its annual 2012 NC Government Seminar in Greensboro, NC. Join other mid- to senior-level government finance officers and professionals from around the state as we discuss the following:

• Government Benchmarking Survey Findings
  John J. Gilberto, CPA | Partner, Cherry, Bekaert & Holland, L.L.P.
• The Great GASB 54 / GASB Update
  John B. Montoro, CPA | Partner, Cherry, Bekaert & Holland, L.L.P.
• LGC Update
  Sharon G. Edmundson, CPA | Director, Fiscal Management Section, State and Local Government Finance Division, North Carolina Department of State Treasurer
• Understanding Internal Controls Management in a Changing Environment
  John Richardson, CPA, CISA | Senior Manager, Cherry, Bekaert & Holland, L.L.P.
• Panel Discussion – Best Practices and Thought Leadership for Municipalities, Counties and School Boards
  Ricky Lopes | Associate Superintendent, Cumberland County Schools
  Dena R. Diorio | Finance Director, Mecklenburg County
  Denise C. Bell | Chief Financial Officer, City of Winston-Salem

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State and local governments face a difficult operational and economic landscape. Join Cherry, Bekaert & Holland for a half-day seminar on timely topics to help you and your government deal with these challenging times.

The seminar will focus on the results of CB&H’s 2011 Government Benchmarking Survey, which provides information on how local government financial leaders are dealing with key financial and operational issues during
the economic recovery. As revenues fall and local demands continue to rise, this information can be critical to planning and budgeting for the year ahead. Other topics to be discussed include the federal budget crisis and how it
affects everyone; and fraud and abuse awareness and prevention.

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Experts from around Virginia, including CB&H’s John Montoro, Chairman-elect of the VSCPA Board of Directors, recently met with 80 local professionals to discuss the importance of fiscal responsibility in the coming year. Opening speeches were followed by an open forum to discuss a CPA’s role in navigating the economic recovery.

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CB&H’s Inaugural Government Benchmarking Study highlights concerns with budget shortfalls and intergovernmental dependency

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Recent economic shifts have increased risk in both the private and public sectors. Particularly with regard to concentrations, the interdependency of governments at the local, state and federal level exacerbates this risk for many entities. As CB&H’s John Montoro discusses in the Journal of Accountancy, clearly understanding and reporting this dependency will be crucial to the future success of governments at all levels.

The 2008 economic crisis, subsequent recession, 2011 debt ceiling debate and pending legislative actions to further reduce federal deficit spending have taught us that the fiscal sustainability of all three levels of government—federal, state and local—is no longer a given if spending continues on its current course. We all need to become better educated on the fiscal strengths and weaknesses that contribute to the economic sustainability of our governmental units.

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CB&H is conducting an important study on key financial and operational issues impacting local government entities and we need your help.

Purpose
To collect, analyze and distribute different viewpoints on dealing with the unique needs of local government entities during the economic recovery.

Participation
As a decision-maker at a leading governmental entity in the Southeast, your views and opinions are critical for conducting an in-depth benchmarking study.

Incentive
For participating in the study, you will receive a detailed report of the study’s results so that you can compare your entity’s concerns with those of your peers throughout the region. The results of this study can help you determine what actions to take, and help you support those decisions to your board and stakeholders.

Investment
The survey should take less than 15 minutes to complete. Begin the survey now.

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Tax collection data from the first quarter of 2011 shows state tax revenues continuing to increase for the fifth straight quarter. Data from 47 states shows a sustaining trend that increased collections 9.1 percent from Q1 2011 over Q1 2010. As Accounting Today reports, the study from The Nelson A. Rockefeller School of Government at the University of Albany shows tax revenues are growing, but still below their peak levels.

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CB&H is launching an industry-precedent benchmarking study for state and local government entities in the Southeast. The study will focus on cities, towns, counties, school boards, authorities and agencies in the states of Maryland, Virginia, North Carolina, South Carolina, Georgia and Florida. The survey will touch on a wide range of issues including:

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• Workforce and benefits,
• GASB and transparency,
• Use of technology,
• Green initiatives,
• Debt structure,
• Infrastructure ,
• External audit,
• ARRA, and
• Budget.

On May 6, 2011, the Internal Revenue Service (IRS) released final regulations that delay the mandatory three percent (3%) withholding on certain payments made by government entities. In general, the 3% withholding, which was scheduled to go into effect beginning next year, will apply to each individual payment over $10,000 made from federal, state and local government entities to persons providing property or services.

Under the final regulations, the new withholding requirements will apply to payments made after December 31, 2012. For existing contracts that are not materially modified, the new withholding requirements will not apply until payments made after December 31, 2013.

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