State of Hawaii Enterprise Financial System

Money Talks is a recurring series that breaks down the basics of public sector accounting, finance, and their real-world impact on the EFS Project and the State of Hawaii. In this session, we’ll discuss assets.

What are Assets?

At the State of Hawaii, “assets” are valuable resources that support public services and include items such as cash, buildings, vehicles, equipment, land, and certain investments. They are crucial for daily operations and enable government agencies to administer programs and services.

For example, a public school’s building is an asset of the State, since it has monetary value and serves as a physical structure that can be used for classroom instruction to the students in the community it serves.

In governmental accounting, the State records assets to show what resources are available and how they are used. Monitoring assets provides an accurate picture of these resources, enabling the State to plan for repairs, replacements, and upgrades, make informed budget decisions, and avoid unnecessary spending. This process also strengthens public accountability by showing how funds are invested in long-term resources that benefit communities, while ensuring taxpayer-funded resources are maintained, safeguarded, and used efficiently.

In short, assets make up the foundation of public services, infrastructure, and the responsible use of public funds.

About Anna Fonseca

With over 30 years of accounting and payroll experience in state and federal government, Anna brings a wealth of expertise to her role as a Control Accounts Bookkeeper with the Department of Accounting and General Services (DAGS), Accounting Division. In her current role, Anna maintains and reconciles financial records, ensuring accuracy and alignment between transactions and official accounts. 

During her decade-long career with the State of Hawaii, Anna held roles as an Account Clerk and Pre-Audit Clerk within DAGS, Administrative Services Office, where she managed financial records, processed payroll forms, verified employee pay per State agreements, and oversaw vendor payments in compliance with procurement policies. In addition to her daily responsibilities, she served as a subject matter expert for the HawaiiPay Project, advising departmental staff on fiscal compliance. 

Before joining state government, Anna was a Payroll/Security Officer at the U.S. Department of Homeland Security, where her duties consisted of analyzing payroll data, facilitating time and leave system transitions, adapting payroll procedures to new systems, and assisting staff with troubleshooting payroll issues.  

Born and raised on Oahu, Anna graduated from Aiea High School and holds an Associate of Science (AS) in Business from Leeward Community College.