GASB Public Comment on Financial Reporting Project Open

By Dan Smith, ABFM Chair & GASAC Representative

I’d like to call your attention to goings on at GASB, specifically its project to reexamine financial reporting for Governmental Funds. On February 22, GASB gave an excellent webinar explaining the project. The archived webinar will be made available, but in the meantime you can click here to view the slides. Prior to that, GASB posted this invitation to comment, which I hope you will examine if you use government financial statements or the data from those statements – such as the data on state and local government finances collected by the U.S. Census Bureau – in your research or teaching.

Of course you are welcome to submit comments on your own, but I’d like to hear from you if you believe a response as an organization would be appropriate. In my experience on the Governmental Accounting Standards Advisory Council, an organization-wide comment would carry more weight. But I don’t want to assume there’s sufficient interest. Comments are due March 31, so please write me with your thoughts at your earliest convenience at dansmith@udel.edu.