Skip to main content Skip to search

Governmental Services

Local governmental organizations operate in a highly regulated and heavily scrutinized environment. Partnering with an audit, accounting, and advisory firm with the specialized knowledge and experience necessary to help navigate the challenges of this industry is essential. LB Carlson’s governmental services team offers a full menu of expert services to assist our clients in meeting and exceeding reporting and compliance requirements, maximizing efficiencies, and maintaining the public trust.

Assurance and Attestation Services

In the public sector, nothing is more important to the credibility of local governmental organizations than exhibiting sound financial management and regulatory compliance over the use of the public funds with which they are entrusted. LB Carlson annually provides assurance and attestation services to approximately 100 such organizations, including: cities and townships, school districts and cooperatives, charter schools, police and fire relief (pension) associations, and numerous other joint ventures and commissions. Our assurance and attest services include:

  • Audit and attest services in accordance with U.S. GAAP and governmental auditing standards
  • Single Audits of federal awards expenditures, including compliance with the Uniform Guidance
  • Audits of compliance with Minnesota laws and regulations
  • Examinations of forecasts and other agreed-upon procedures engagements
  • Management reports that provide concise summaries of audit results, insightful observations and recommendations for internal control or operational efficiency improvements, and contextual analysis of operating results for management and governance.
  • Effective presentations of audit results at public meetings

Advisory services

We offer a wide range of customized advisory services specifically tailored to meet the needs of our governmental clients, including:

  • Revenue projections
  • Budget development and review
  • Implementation of governmental accounting pronouncements
  • Grant compliance and reporting
  • Internal control evaluations
  • State regulatory reporting and statutory compliance requirements
  • Debt service funding plans
  • Investigations of fraud or misuse of public funds
  • Construction project analysis
  • Special legislation consulting and support

Tax Services

  • Preparation of federal tax returns, including federal Forms 990, 5500, 1096, and 1099
  • Assistance with payroll and benefit tax requirements

These are only some of the services we offer. Please contact LB Carlson’s governmental services team to see what we can do for you!

Blog Posts

Don’t forget about the Research and Development Tax Credit

June 21, 2021

Since March 2020, many small business owners and their advisors have been focused primarily on Paycheck Protection Program Loans (PPP), PPP forgiveness, and Employee Retention Tax Credits (ERTC). That focus certainly has made sense; however, as you wrap up your PPP forgiveness and ERTC calculations, this is a brief reminder not to forget about the research and development (R&D) tax credit.

Don’t assume your profitable company has strong cash flow

June 18, 2021

Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of the expression goes.
A dangerous assumption that many business owners make is that, if their companies are profitable, their cash flow must also be strong. But this isn’t always the case. Taking a closer look at the accounting involved can provide an explanation.

The Biden administration proposes far-reaching tax overhaul

May 6, 2021

President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs Plan and the Made in America Tax Plan. These plans propose major investments in various domestic initiatives, such as expanded tax credits for families, offset with tax increases on high-income individual taxpayers and corporations.

The Restaurant Revitalization Fund is now live

May 5, 2021

The COVID-19 pandemic has affected various industries in very different ways. In response, the Small Business Administration (SBA) has launched the Restaurant Revitalization Fund (RRF). It was established under the American Rescue Plan Act (ARPA) signed into law in March. The RRF went live for applications on May 3, and the SBA is strongly urging interested, eligible businesses to apply as soon as possible.