Horizons Spring/Summer 2019

INDUSTRY UPDATE PUBLIC SECTOR

What will the Next Decade Bring for the Public Sector Industry by Matt Marino, CPA T he last decade has brought about many changes in state and local government.

for everything we do including basic communication, banking, navigation, entertainment, learning and much more. Governmental entities’ interaction with the public via various social media platforms is now common place and is not only limited to basic informational purposes, but is also utilized for public safety, recruiting and overall public engagement. Governments have upgraded both software and hardware throughout their organizations and these new tools are now producing increasingly larger data sets and information that can be utilized.

More than 35 Governmental Accounting Standards Board (GASB) statements have been issued, with impacts to topics such as fund balance, pensions, leases, tax abatements and debt disclosures, which have increased the information required to be communicated to users of the financial statements. Robust websites to interact with your entity’s target audience are now considered a necessity rather than a luxury. Today, smartphones are universally utilized

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