February 22, 2022

GFOA Awards Recognize Finance Officers for Their Contributions

Written by: Curtis Coonrod [Revised: 1/27/22] In December 2021, the Government Finance Officers Association (GFOA) announced the winners of its 2021 Awards for Excellence in Government Finance. Being one of GFOA’s most prestigious awards, this award recognizes the contributions and practices that illustrate excellence in financial management. This recognition is based on documented work that demonstrates leadership in the profession and improves public finance. The Awards for Excellence is just one of various awards that financial officers can receive from the GFOA.  Since its inception in 1906, GFOA has represented and advocated for public finance officials in the US and Canada. A 20,000-member association, GFOA is comprised of federal, state, provincial, and local finance officials who plan, finance, and implement […]
January 21, 2022

Supplemental Medicaid Reimbursement

Written By: Stephanie Lilly, Lynsey Johnson, and Curtis Coonrod In addition to billing Medicaid for ambulance services, most local governments can apply annually for supplemental payment. States make Medicaid payments to hospitals and ambulance providers. One of the two ways payments are made via base payments for services and supplemental payments, which are made in a lump sum for a fixed period of time. In 2019, Indiana received federal approval to provide a supplemental payment adjustment to in‐state government‐owned ambulance providers. The payment adjustment is intended to reimburse the actual incurred costs of providing ambulance services to eligible Medicaid beneficiaries.                             An extensive amount of research and calculation is necessary for each reimbursement request. The complete packet of information […]
August 1, 2021

Why do Indiana local officials need to learn about GAAP?

Written by: Curtis Coonrod [Revised: 9/2021] Indiana now requires some cities, towns, and counties to publish financial statements in accordance with GAAP (Generally Accepted Accounting Principles). Other units may also benefit by preparing GAAP statements on a voluntary basis. IC 5-1-11.5-4* requires GAAP financial reporting for large counties, cities, and towns that issue bonds. This requirement applies to counties with populations in excess of 100,000 and cities and towns with populations greater than 75,000.  How does GAAP differ from the traditional Indiana accounting practices that were developed over the years by fiscal officers and the State Board of Accounts?  The traditional system focuses on appropriations and claims only one year at a time. Little attention is directed at the future. […]