Government accounting

Local government investment pools remain free from SEC rules

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.

Joe Torsella said the online tool will help portray long-term drivers of the state’s financial picture.

This revision represents an update of Statement 34 issued in June 1999.

State auditors will continue to be represented on the Governmental Accounting Standards Board after Chairman David Vaudt ends his term June 30 although not as the chairman.

The state's net position worsened to negative $189.1 billion according to the CAFR, which arrived almost 14 months after fiscal 2018 ended.

New York City Comptroller Scott Stringer received several awards for excellence in financial reporting.