Pub. 1 2019 Issue 1

J A N U A R Y / F E B R U A R Y 2 0 1 9 6 nebraska cpas The Society’s Executive Committee and Board of Directors held their first meetings of 2019 on January 8, with Chairman Patrick A. Meyer presiding. The meetings took place at the Nebraska Club in Lincoln, Neb., shortly before the Society’s Annual State Senators’ Reception & Dinner. During the meeting, the board approved the approximately $1.2 million preliminary Society budget for 2019-2020, which includes the development of a new database followed by a new website later in the year. The final version of the budget will be reviewed by the Society’s Executive Committee in late March prior to the Society’s new fiscal year, which begins April 1, 2019. In anticipation of the new fiscal year, member profiles and CPE transcripts have been mailed to all members; member dues statements will be sent before April 1. Also during the meeting, Chief Lobbyist Walt Radcliffe, along with Justin Brady and Korby Gilbertson of Radcliffe & Associates, led a discussion regarding potential legislative bills and issues of interest to the profession. The first session of the 106th Legislature started January 9. Included on the Society’s affirmative agenda is LB 49, introduced by Sen. John Stinner, who is chairman of the Nebraska Legislature’s Appropriations Committee. LB 49 would allow ESOP-owned CPA firms in Nebraska. The Society Board decided to take no action on the drafting of a potential bill that would have addressed the loss of the IRC Section 199 deduction, specifically as it relates to the elimination of the production deduction and the addition of the new Section 199A deduction. PRESIDENT’S MESSAGE SOCIETY BOARD DISCUSSES BUDGET, BYLAWS, LEGISLATION & LEADERSHIP ACADEMY BY JONI SUNDQUIST, President & Executive Director, Nebraska Society of CPAs The board also reviewed proposed legislation as presented by the Nebraska Department of Transportation (NDOT) that would remove the requirement for a CPA to certify financial statements of contractors who are bidding on highway andbridgeprojects.After somediscussion, the board voted to maintain a neutral position onNDOT’s proposed legislation. In other news, Society Vice President Kelly Ebert and I are participating in a newly formed working group organized by the Nebraska Board of Public Accountancy to consider the adoption of CPE reciprocity. Stay tuned to this magazine and watch your email for updates on legislation we’re tracking that could impact the profession. The following includes a list of further items discussed and actions taken at the January 8 meetings: • Approved eight Society membership applications. • Approved the Society’s financial statements as of November 30, 2018. • Received a report from Society Vice President Kelly Ebert regarding the Society’s 2018 Continuing Professional Education (CPE) program; 88 courses were held as scheduled with a total of 2,678 registrants. • Approved a one-time $15 CPE coupon for use by Society members in 2019. • Approved the dates of November 4-5 for the Society’s 2019 Annual Meeting and Fall CPE Conference to be held at the Embassy Suites in La Vista.