Debbie Rosales, Financial Analyst, Las Virgenes Water District
In October, the Inland Empire Chapter hosted another successful CSMFO Chapter event. Engagement was high, the virtual raffle was fun, break out sessions added time to connect in smaller groups and yes, the topic was meaningful.
The Chapter welcomed Mary Maxion, Hong Nguyen, and Eden Casareno, all CPA’s from Eadie & Payne LLP, as they presented the Impacts of COVID-19 on Financial Reporting and Single Audit Preparation.
Hong Nguyen, CPA kicked things off by discussing the local impacts of sales, occupancy, gas, and property taxes on local agencies as well as CARES Act and Disaster Relief revenues. She covered revenue and expense recognition guidelines as well as budgeting and fund balance classifications for COVID items.
Mary Maxion, CPA then took over the financial reporting of items that are unique to COVID. Loss of revenues, additional expenses, depletion of reserves, internal control challenges, cybersecurity, collectability of receivables and fraud were all discussed. Mary finished by reviewing considerations for the MD&A as it relates to COVID.
Eden Casareno, CPA finished the presentation by discussing Single Audits. She talked about unique COVID-19 risks, 2020 single audit basics, changes to the SEFA, new COVID-19 funding programs, and tips on preparing for your Single Audit.
Meeting attendees broke out into eight virtual rooms where they were able to spend some time connecting with other members and talked about their favorite Halloween candy!
Matt Kirschenmen from Bank of the West, Mark Petrasso from Zion’s Bank & Corporate Trust, Kyle Tanaka of PFM Asset Management, and Eden Cesareno of Eadie & Payne generously provided gift card raffle prizes to four lucky session attendees. Congrats to all winners!
The Inland Empire is planning their annual holiday gathering virtually on December 3rd where we are excited to have Nicole Lance, of Lance Strategies, present The Strategic Advantage of Putting People First. Nicole is a dynamic speaker who has many years of experience working in local government and is sure to give some insight into leading with humanity and putting people first.
The event is sure to be filled with fun and excitement as we once again raffle off many items from our vendors and the IE Chapter Team (who says centerpieces have to be on tables) and enjoy the camaraderie that has become such an important part of our chapter.
With the power of Zoom and CSMFO you too can connect with members, attend any chapter meeting regardless of your location, and learn best practices. We hope to see you at a future chapter meeting.
Debbie Rosales has been in the Inland Empire (I.E.) Chapter since 2013. She really enjoys her involvement with CSMFO and is looking forward to a time when we can all be together again. In addition to working at the Chapter level, Debbie served on the Career Development Committee for one year in 2015. Her favorite thing about CSMFO is coaching and mentoring. Debbie recently started a new position as a Financial Analyst with Las Virgenes Water District and will be “moving” to her new home Channel Chapter with the new year. She is looking forward to meeting new CSMFO members while still retaining the working relationships she has formed while in the I.E.
