Resources | Precision Auditors

Resources & Insights

Helpful information, tools, and updates for Vermont and New York governmental entities and nonprofit organizations.

We're here to keep you informed.

Useful Links

Governmental Accounting Standards Board

Vermont League of Cities & Towns

Nonprofit - New Reporting Standards

Vermont School Boards Association

Uniform Guidance - 2 CFR Part 200

NYS School District Accounting and Reporting Manual

Governmental Insights

GASB 103: What Governments Need to Know for FY2026

GASB Statement No. 103 brings several changes to governmental financial statement presentation. Here are the key areas municipalities and school districts should be preparing for.

Preparing for Your Annual Governmental Audit

A well-prepared year-end can make the audit process more efficient. Here are some steps municipalities and school districts can take before fieldwork begins.

Federal Awards and the $1 Million Single Audit Threshold

The federal Single Audit threshold increased from $750,000 to $1 million. Governments receiving federal awards should understand how the change affects their audit requirements.

Does Your Nonprofit Need a Single Audit?

Nonprofits receiving federal funding may be subject to additional audit requirements. Here’s what organizations should know about the new $1 million threshold.

Preparing Your Nonprofit for Its Annual Audit

Good year-end preparation can make your nonprofit audit more efficient and reduce last-minute requests. Here are a few areas to address before fieldwork.

Common Financial Reporting Issues for Nonprofit Organizations

Contributions, grants, donor restrictions, and year-end cutoff can create accounting challenges for nonprofits. Understanding a few key concepts can help avoid surprises at year-end.

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