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Government & Public Sector
Accounting, compliance, and advisory services for government agencies, public authorities, municipalities, and public-sector organizations navigating fund accounting and regulatory requirements.
Financial Services for Government & Public Sector Entities
Government and public sector organizations operate under a distinct set of accounting standards and reporting requirements that differ fundamentally from commercial enterprises. GASB standards govern state and local government financial reporting, while federal agencies follow OMB Circular requirements and FASAB standards. Public-sector financial management demands expertise in fund accounting, grant compliance, and transparency reporting.
SMAART Company provides accounting, compliance, and advisory services for state and local government agencies, public authorities, special districts, municipalities, and public-sector organizations. Our team has direct experience with GASB financial statement preparation, OMB Uniform Guidance grant compliance, single audit requirements, public pension accounting, and the financial reporting transparency standards that public agencies must meet.
Whether you are a municipal government preparing annual financial statements, a public authority managing complex debt structures, or a government agency navigating federal grant compliance requirements, SMAART delivers the public-sector financial expertise and compliance rigor that government entities demand.
Core Directives
GASB Financial Reporting
Grant & Federal Compliance
Internal Controls & Risk
Operational Milestones
01
Entity Assessment
Evaluate your fund structure, reporting requirements, grant portfolio, and current financial management systems.
02
GASB Compliance Framework
Implement or strengthen GASB-compliant accounting policies, chart of accounts, and financial reporting processes.
03
Grant Compliance Systems
Build OMB Uniform Guidance compliance procedures, cost allocation methodologies, and subrecipient monitoring frameworks.
04
Financial Reporting
Prepare Comprehensive Annual Financial Reports, budget-to-actual reports, and grant financial statements with full GASB compliance.
05
Ongoing Advisory
Continuous monitoring of GASB updates, grant compliance support, and strategic advisory on financial management best practices.
Included Services & Outcomes
GASB Financial Statement Preparation
Fund Accounting & Budget Compliance
OMB Uniform Guidance Grant Compliance
Single Audit Preparation & Support
Public Pension & OPEB Accounting
Municipal Debt & Bond Accounting
Capital Asset & Infrastructure Reporting
Government Internal Control Assessments
Public Funds Deserve Public Accountability.
SMAART's government and public sector team brings deep GASB expertise and grant compliance experience to help public entities meet their reporting obligations and steward resources responsibly.
FAQ
Questions &
Answers
Get answers to the most common questions about our government & public sector services.
Fund accounting segregates financial resources into separate funds based on their purpose and restrictions. Governments use it to demonstrate legal compliance with appropriations, grant restrictions, and donor designations, showing that each pool of money is used only for its intended purpose. SMAART implements and maintains fund accounting systems that satisfy GASB standards and external auditor requirements.
A Single Audit is required for non-federal entities that expend $750,000 or more in federal awards in a fiscal year. It combines a financial statement audit with a compliance audit of federal programs. SMAART helps agencies prepare for single audits, implement required internal controls, respond to audit findings, and develop corrective action plans.
GASB standards include unique requirements not found in commercial GAAP: government-wide financial statements plus fund financial statements, modified accrual basis accounting for governmental funds, infrastructure asset reporting, pension and OPEB liability reporting, and specific disclosures for tax abatements, leases, and subscription-based IT arrangements.
Yes. GASB 67, 68, 74, and 75 significantly changed how governments report pension and OPEB liabilities, requiring net pension liability and net OPEB liability on government-wide financial statements. SMAART prepares all required pension and OPEB disclosures and helps agencies understand the financial impact of their benefit obligations.
Serve the Public with Financial Confidence.
Partner with SMAART's public sector specialists to achieve GASB compliance, strengthen grant management, and build the financial transparency that public trust demands.
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