2024 Maryland Government Training Academy

Registration and breakfast.

Welcome and housekeeping items.

Presenters: Cheri Amoss, Bill Early, and Remi Omisore
2 credits: Accounting (Governmental) 

During this session, participants will be briefed on new accounting standards affecting state and local governments. Determine dates of implementation and outline some of the challenges related to implementation and be updated on additional GASB projects on the horizon. Participants will also identify changes coming to the compliance supplement for FY 2024.

At the end of the session, you will be able to:

• Identify upcoming GASB pronouncements and their potential impact on state and local government financial statements, including GASB 100 and GASB 101
• Identify known changes coming in the FY 2024 compliance supplement and uniform guidance

15-minute break

Presenter: Michael DePrima 
1 credit: Taxes

The Inflation Reduction Act of 2022 and the Bipartisan Infrastructure Law enacted in 2021 created unprecedented opportunities and groundbreaking possibilities for leveraging clean energy tax credits for both taxpaying and tax-exempt organizations, including state and local governments, nonprofits, and higher education institutions. We will distill this landmark legislation and outline how your organization can take advantage of its benefits.

At the end of the session, you will be able to:

• Describe the various tax credit opportunities created by the IRA
• Recall how credit refunds and transfers operate under the IRA
• Describe the latest legal and regulatory updates under the IRAs
• Identify how to plan for clean energy investments within your agency or entity
• Recognize grant opportunities for local governments included in the IRA and Infrastructure Law

1 credit: Personnel/Human Resources 

In this session, we will explore the importance of taking care of your workforce and how it can positively impact your organization. We will discuss the various ways in which you can support your employees' well-being, including mental health, physical health, and work-life balance. We will also provide practical tips and strategies for creating a supportive and inclusive workplace culture that promotes employee engagement and retention.

At the end of the session, you will be able to:

• Recognize the importance of taking care of your workforce and how it can positively impact your organization
• Discuss what inspires employees
• Recall the various ways in which you can support your employees' well-being, including mental health, physical health, and work-life balance
• Identify practical tips and strategies for creating a supportive and inclusive workplace culture that promotes employee engagement and retention
• Review current market trends

Enjoy lunch and network with friends in the industry.

Presenter: Jim Kreiser 
1 credit: Auditing (Governmental)

This session will provide an update on the latest trends and developments in risk assessment, including new risks that have emerged in the wake of the COVID-19 pandemic. We'll discuss leading practices for identifying and assessing risks, as well as strategies for mitigating and managing them.

At the end of the session, you will be able to:

• Explain how to identify, assess, and prioritize risks and recognize the key items to build an effective risk assessment and management program
• Identify factors driving the need for risk assessment and risk management functions and processes
• Discuss processes for identifying, assessing, and prioritizing risks, and how to align this with strategic/organizational objectives
• Recognize key items and leading practices for building a robust, mature, and effective risk assessment as well as a risk management program

15-minute break

Presenters: Ben Rackley and Logan Harris 
1 credit: Information Technology 

We’ll dive into the dynamic world of automation and artificial intelligence (AI) in the realms of accounting and finance. Our focus will be on the practical applications and benefits of automation in streamlining accounting and finance-related processes.

We'll explore a variety of use cases demonstrating how automated systems and AI technologies, including business intelligence reporting, generative AI, and large language models are revolutionizing data processing, accuracy, and decision-making for state and local governments, nonprofit organizations, and higher education institutions.

Engage with insights and real-world examples that showcase the transformative power of these technologies in enhancing efficiency, reducing manual workload, and unlocking new potentials in financial management and reporting.

At the end of the session, you will be able to:

• Recognize the basics of AI and automation in finance
• Recall comprehensive insights of how AI and automation technologies work, specifically in the context of accounting and finance
• Review a range of practical use cases of AI and automation in financial processes
• Recall how implementing AI and automation can significantly improve efficiency, reduce errors, further organizational mission, and improve the lives of the workforce
• Identify ways your organization can adapt and stay ahead in this rapidly evolving field, including strategies for implementation and overcoming potential challenges

Presenters: Sean Walker, Aires Coleman, and Shannon Weiss
1 credit: Accounting (Governmental)

The panel will discuss key topics related to the uniform guidance update, compliance supplement, the new data collection form, internal control, compliance testing, reporting, findings, and other common issues.

At the end of the session, you will be able to:

• Identify upcoming changes to the uniform grant guidance
• Distinguish key changes and actions needed for submitting a data collection form
• Identify common single audit findings
• Identify how to apply lessons learned and leading practices

Closing thoughts.