Data-Driven Opportunities for Library Systems
12/08/22 • 22 min
Library systems are constantly evolving. As digital technologies continue to expand, local governments and their libraries have increased access to quality data, providing opportunity for focused improvement with data-driven decisions.
Paul Folkers, a Senior Manager on Cherry Bekaert’s Government & Public Sector (GPS) team, and Velencia Posso, an Associate in our Digital Advisory practice, hosted Denise Lippuner, Managing Director of our Risk & Accounting Advisory practice, to discuss library systems, their place within local governments and opportunities to implement data strategy.
Part of our GPS podcast series and the first in our library systems mini-series, this episode covers:
- Local governments’ data collection and utilization
- Relationships between libraries and government organizations
- Trends and impacts on library systems pre- and post-pandemic
- Resources to collect and analyze data to improve operations
- Data challenges libraries face
- Opportunities for libraries to better utilize data
If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.
Related Resources:
Library systems are constantly evolving. As digital technologies continue to expand, local governments and their libraries have increased access to quality data, providing opportunity for focused improvement with data-driven decisions.
Paul Folkers, a Senior Manager on Cherry Bekaert’s Government & Public Sector (GPS) team, and Velencia Posso, an Associate in our Digital Advisory practice, hosted Denise Lippuner, Managing Director of our Risk & Accounting Advisory practice, to discuss library systems, their place within local governments and opportunities to implement data strategy.
Part of our GPS podcast series and the first in our library systems mini-series, this episode covers:
- Local governments’ data collection and utilization
- Relationships between libraries and government organizations
- Trends and impacts on library systems pre- and post-pandemic
- Resources to collect and analyze data to improve operations
- Data challenges libraries face
- Opportunities for libraries to better utilize data
If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.
Related Resources:
Previous Episode
GASB 87 Frequently Asked Questions (FAQs)
The Governmental Accounting Standards Board (GASB) Statement no. 87, Leases[MD1], aims “to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments.”
Scott Anderson, a Director on Cherry Bekaert’s Government & Public Sector (GPS) team, who has recently returned from his GASB fellowship, sat down with Lauren Strope, Assurance Partner on our GPS team, to address frequently asked questions that have surfaced throughout the first-year implementation of GASB 87.
Part of our GPS podcast series, this episode discusses:
- Right-of-use assets and where they belong
- Capital assets and calculation of net position
- Short and long-term liability reporting
- Leases in proprietary fund statement reporting
- Leases in governmental fund reporting during the year of implementation
- Restatement of prior balances in the Management’s Discussion and Analysis
If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.
Related Resources:
- Article: Most Frequently Asked Questions (“FAQs”) about GASB 87 and What You Need to Know to Comply
- Podcast: GASB Hot Topics and Accounting Standards Update
- Webinar: GASB Updates for the Government & Public Sector
Next Episode
Initial SFFAS 54 Implementation Considerations for Federal Agencies
SFFAS 54, Leases, is effective for fiscal years beginning on or after October 1, 2023. Federal agencies should start considering how their leasing transactions must be accounted for on the balance sheet as we move forward.
Danny Martinez, Government & Public Sector Accounting Advisory Lead, sat down with Ward Melhuish, Federal Government Sector Advisory Leader, to discuss the first of four steps federal agencies should follow in their SFFAS 54 implementation process.
Part of our GPS podcast series, and the first in our SFFAS 54, Leases, mini-series, this episode covers:
- Considerations when beginning the SFFAS 54 implementation process
- Training to help understand SFFAS 54
- Criteria for an SFFAS 54 implementation team
- Takeaways from large federal project implementation teams
- Template development and creation
- Transition period and process
If you have any questions specific to your business needs, Cherry Bekaert’s Government & Public Sector team is available to discuss your situation with you.
Related Resources:
- Article: SFFAS 54, Leases Is Coming: What Should Your Federal Agency Do About It Today?
- Webinar: Introduction to the Federal Leasing Standard SFFAS 54
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