GASB

The Governmental Accounting Standards Board is seeking input from the public about its preliminary views on clarifying changes to disclosure regulations related to state and local governments under severe financial stress and facing probable dissolution.

The board has requested comment on additional disclosures that state and local governments would need to provide in financial statements but faces a long timeline for implementation.

The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.

The Governmental Accounting Standards Board's new disclosure requirements focus on concentrations and constraints and governments will have to comply by June 15, 2024.

While only 29 city related pension plans in 2021 reported future fail dates for meeting retirement benefits, that number could worsen this year as investment returns tumble.

The influential financial advisory board has assembled a task force to sharpen terminology.

GASB has not had an academic on its board since June of last year when Professor Michael H. Granof of the University of Texas ended his second term.

Illinois is among the states that critics say have downplayed their unfunded long-term debts and should be forced by new GASB rules to become more transparent.

Alan Skelton previously served as state accounting officer for the state of Georgia, a position that is equivalent to state comptroller in other states.

Thousands of references to the acronym were removed from the Government Finance Officers Association website.