Accounting standards

Illinois' Annual Comprehensive Financial Report for fiscal year 2023 recently passed the 600-day mark and is threatening to break California's lateness record.

Local government investment pools remain free from SEC rules

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

While other issuers have suffered ratings hits or had them withdrawn, California's ratings have not been impacted by its now perennially late ACFR.

California officials blame a new electronic records system for reporting delays that worsen every year, though other states don't have the same problem.

The N.C. Local Government Commission approved Wake County's request to finance almost $600 million for school and community college projects and the state’s plan to issue $300 million of GARVEEs for DOT work.

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.

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

The appointment of Black as GASB chairman last year was a break with the tradition of having a former state auditor serve in the post.