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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!

Practice Leader
Aaron Nielsen
Contact Aaron

Your Local Governmental Organizations Team Leaders

Jim Eichten,
Principal

Jaclyn Huegel,
Principal

William Lauer,
Principal

Jennifer Dickman,
Client Manager

Zekeill Johnson,
Client Manager

Blog Posts

Succession Planning

Family business owners must weave together succession and estate planning

December 10, 2020

It’s been estimated that there are roughly 5 million family-owned businesses in the United States. Annually, these companies make substantial contributions to both employment figures and the gross domestic product. If you own a family business, one important issue to address is how to best weave together your succession plan with your estate plan.

Surviving Adversity: A CEO Panel Discussion Part 2

December 8, 2020

In part one of Surviving Adversity: A CEO Panel Discussion, we highlighted the main topics of conversation around revenue following a Printing Industry Midwest (PIM) Financial Executives Council (FEC) meeting. In part two, we’ll cover the discussion by the panelists on how they’ve adapted the way they manage their graphic arts business in light of COVID-19, including the impact to staffing and internal processes.  

Tell Congress to allow PPP expense deductions for small businesses

November 24, 2020

Unless Congress acts soon, many small businesses may be hit with an unexpected tax bill related to PPP loans. Join us in supporting the AICPA’s efforts to push for deductibility of PPP-funded expenses! Take action by writing to your Congressman to request PPP expense deductions be allowed. To make it easy, the AICPA has drafted an email that you can use.

PPP Loan Forgiveness Webinar

November 22, 2020

This webinar addresses the latest changes to the PPP loan forgiveness program, the various applications available, and the process for completion and submission. The information provided in this presentation is current as of November 19, 2020. It is intended for general informational purposes only. Consult with your financial advisor about your specific situation.

Update on Taxation of Payroll Protection Program (PPP) Loan Forgiveness

November 20, 2020

On Nov. 18, 2020, the Internal Revenue Service released additional guidance regarding the deductibility of expenses paid using proceeds from a PPP loan. The new guidance states that if a taxpayer received a PPP loan and paid or incurred usually deductible expenses with the loan proceeds, those expenses are not deductible if the taxpayer has a reasonable expectation that they will receive forgiveness. The expenses paid for with PPP loan proceeds are not deductible in the year paid even if forgiveness has not been achieved or applied for by the end of the taxable year. In other words, the expenses are not deductible on taxpayers’ income tax returns that include the covered period. The covered period is either the 8- or 24-week period you elected to spend the loan proceeds.