The executive board of the Government Finance Officers Association is again engaging in a spirited dispute against the Governmental Accounting Standards Board, this time arguing that it should cease its work on a project that aims to set standards for forward-looking statements in government financial documents.

In a one-page resolution that was approved at the GFOA’s executive meeting March 5 but not released on the group’s Web site until last week, the GFOA warns that GASB’s development of its “fiscal sustainability” project goes beyond the accounting standard-setter’s mandate. It “exceeds its legitimate authority and expertise and constitutes an inappropriate use of scarce resources,” the issuer group said.

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