Fiduciary Responsibilities of Local Elected Officials

This workshop will focus on understanding and responding to the annual audit, maintaining adequate oversight of fund balance including its limitations and flexibility, and knowing the significance of the various communications and reporting requirements of the Local Government Commission. Attendees will learn from real-life examples of internal control challenges and other significant audit findings, and will see how board involvement can help overcome these challenges in ways that secure the local units’ financial stability. Relationships between the state and local governments in managing public funds will be explored.