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Emerging Issues Roundtable

Join us in Chicago for the NASACT Annual Conference as we discuss the challenges facing the public sector, including talent acquisition, budgeting, and the increasing complexity of standards. Use your Audience Response Keypads to participate in the discussion.

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Emerging Issues Roundtable

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  1. Emerging Issues Roundtable NASACT Annual Conference Chicago, IL August 24, 2015

  2. Please utilize your Audience Response Keypads. When prompted, simply select the choice by pressing the option that best represents your response. Audience Response PLEASE REMEMBER TO LEAVE THE HANDSETS IN THE ROOM PRIOR TO DEPARTING.

  3. Demographics Getting to Know our Audience

  4. 1. Do you work in the: Public sector Private sector 189 of 400 0 Question #1: Public or Private Sector

  5. 2. Are you a: State Auditor (or staff) State Comptroller (or staff) State Treasurer (or staff) 0 Question #2: Your Primary Function (NASACT Members Only)

  6. 3. For those in the public sector, are you: Elected Appointed Other 0 Question #3: Method of Selection

  7. 4. Are you a member of the: Silent generation (born 1927 to 1945) Baby boomers (born 1946 to 1964) Gen X (born 1965 to 1980) Gen Y/Millennials (born 1981 to 2000) Gen Z/Boomlets (born after 2001) 0 Question #4: Generational Categories

  8. 5. What region are you from? North South East Midwest West 0 Question #5: Geographic Location

  9. Top Issues Today and Down the Road

  10. 6. What do you see as the most significant challenge facing your office today? Political pressures Budget shortfalls Hiring, retaining, or retirements of qualified employees Standards overload (including increasing complexity) Systems/Data security Other 0 Question #6: The Challenges

  11. 7. What do you see as the most significant challenge facing your office three years from now? Political pressures Budget shortfalls Hiring, retaining, or retirements of qualified employees Standards overload (including increasing complexity) Systems/Data security Other 0 Question #7: The Challenges

  12. The War for Talent Hiring/retaining qualified employees

  13. 8. Are you having a problem hiring or retaining high quality employees? Yes No 0 Question #8: The War for Talent *

  14. Assuming the answer to the previous question is “yes,” how severe is the problem (1=no problem, 10=major problem)? 1 3 5 7 10 0 Question #9: The War for Talent

  15. 10. For those not having a problem hiring or retaining employees (i.e., a rating lower than “5”), what factors do you attribute this to? Strong employee value Strong employee management Lots of local talent looking for jobs All of the above Other 0 Question #10: The War for Talent

  16. 11. For those having a problem hiring or retaining employees (a rating of “5” or higher), what type of issues do you see as a challenge? Recruiting younger workers with appropriate competencies Retaining current workers Retraining current workers with different competencies than when they were hired All of the above Other 0 Question #11: The War for Talent

  17. 12. What steps are you taking to hire/retain quality employees? Flexible schedules Salary adjustment Telecommuting Robust training programs Tuition reimbursement All of the above Other 0 Question #12: The War for Talent *

  18. 13. If you allow telecommuting, what level of staff telecommute? Entry level (1-3 years exp.) Staff level (3+ years exp.) Supervisors/Auditors-in-Charge Managers All of the above 0 Question #13: The War for Talent *

  19. 14. If you allow telecommuting, how many days a week is it allowed? 1 2 3 4 5 0 Question #14: The War for Talent

  20. The War for Talent • Open discussion

  21. Budgets & Economic Condition Are Things Really Improving?

  22. 15. How would you rate your state’s current financial condition? Excellent Good Average Poor Very Bad 0 Question #15: State’s Financial Condition

  23. 16. How would you rate your state’s future financial condition? Excellent Good Average Poor Very Bad 0 Question #16: State’s Financial Condition

  24. 17. What is the biggest threat to your government’s future financial stability? Pension liabilities OPEB liabilities Infrastructure costs Personnel costs Insufficient or declining revenue Other 0 Question #17: Key Threats

  25. 18. How was the impact on your office’s most recent budget from the prior year? Increase No change Decrease 0 Question #18: Your Office’s Budget

  26. 19. What will be the general direction of your office’s budget over the next 3-5 years? Increase No change Decrease 0 Question #19: Your Office’s Budget

  27. 20. What is the most effective way to communicate a government’s financial condition? Comprehensive Annual Financial Report Popular report Website Press releases Print media Social media 0 Question #20: Communicating Financial Condition

  28. 21. How effective are efforts to connect with citizens over financial condition? Highly effective Effective Somewhat effective Neither effective or ineffective Ineffective Highly ineffective 0 Question #21: Communicating Financial Condition

  29. Budgets & Economic Condition • Open discussion

  30. Standards Overload & Complexity Are You Having Trouble Keeping Up?

  31. 22. Compared to the past, do you find the pace of new standards to be increasing? Yes No N/A 0 Question #22: Standards Overload *

  32. 23. Compared to the past, do you find the new standards to be more complex? Yes No N/A 0 Question #23: Standards Overload

  33. 24. Based on a scale of 1 to 10 (1=not complex at all, 10=major complexity), how complex did you find GASB Statement No. 68 (Pensions) to implement or audit? 1 3 5 7 10 N/A 0 Question #24: GASB No. 68 Complexity

  34. 25. Assuming you find GASB No. 68 a complex standard to implement, what are the primary causes? Lack of timely information from the pension plan (e.g., GASB 67 related) Communication issues with the pension plan Difficulty in testing census data Inadequate implementation guidance Inadequate audit guidance Other N/A 0 Question #25: GASB No. 68 Complexity

  35. 26. While the final numbers are currently being compiled in the FY 2015 CAFRs, what is the anticipated impact on the Statement of Net Assets? Severe impact (will cause negative net assets) Moderate impact (will not reduce net assets by more than 25%) Minor impact (will not reduce net assets by more than 5%) No impact Positive impact (will actually have a net pension asset) Not sure N/A 0 Question #26: GASB No. 68 Impact

  36. 27. Are you aware of any governments in your state (state or local) that will have overall net negative assets as a result of GASB 68? Yes No Not sure 0 Question #27: GASB No. 68 Impact

  37. Question #28: GASB No. 75 Impact 28. While the effective date for GASB No. 75 (OPEB) is a few years away, what is the anticipated impact on the Statement of Net Assets? Severe impact (will cause negative net assets) Moderate impact (will not reduce net assets by more than 25%) Minor impact (will not reduce net assets by more than 5%) No impact Positive impact (will actually have a net OPEB asset) Too early to estimate Not sure N/A 0

  38. 29. How prepared are you to implement the provisions of OMB’s new Uniform Grant Guidance? Very prepared Prepared Not prepared at all N/A 0 Question #29: OMB’s Uniform Grant Guidance

  39. Question #30: OMB’s Uniform Grant Guidance 30. If you are “not prepared at all,” what are the obstacles? Lack of timely guidance Lack of knowledge or awareness by state agencies Lack of knowledge or awareness by subrecipients Other 0

  40. Question #31: SEC Rule 2a-7 and GASB ED 31. The GASB recently issued an Exposure Draft that would allow qualifying external investment pools (those that would come under SEC Rule 2a-7) to continue to measure their investments at amortized cost, rather than fair value. Do you agree with GASB’s proposed approach? Yes No Not sure N/A 0

  41. Standards Overload & Complexity • Open discussion

  42. Systems/Data Security and Accuracy

  43. Question #32: Systems Security 32. How confident are you in the security of your state’s or company’s systems? Very confident Confident Not confident at all Not sure 0 *

  44. Question #33: Systems Security 33. How confident are you in the security of your office’s systems? Very confident Confident Not confident at all Not sure 0

  45. Question #34: Systems Security 34. Has your state or company encountered some sort of security breach in the past year? Yes No Not sure 0 *

  46. Question #35: Systems Security 35. Has your office encountered some sort of security breach in the past year? Yes No Not sure 0

  47. Question #36: Data Quality 36. Data accuracy is critical to the work of government accountability officials. In your professional responsibilities, how often do you encounter problems with data integrity and accuracy? Frequently Often Occasionally Rarely Never 0

  48. Question #37: Data Quality 37. Today, data is being collected in unprecedented amounts. But, how usable is the data that is being collected? How often is your office able to use collected data to make useful decisions? Frequently Often Occasionally Rarely Never 0

  49. Question #38: Data Quality 38. What is the primary cause of data problems? Technology (aging systems) Management issues (lack of accountability or supervision, noninterest, etc.) Lack of effective internal controls Poor planning or lack of planning Data entry issues (lack of consistent definition, identifiers, and other data input issues) Lack of expertise or lack of data analytics to determine quality issues Other 0

  50. Question #39: Data Analytics 39. How often do you use data analytics to make informed decisions? Frequently Often Occasionally Rarely Never 0 *

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