MEDIA ADVISORY 02/29/12
March 16 is the Deadline for Comment on GASB's
Proposed Reporting of Financial Projections for Assessing Economic Condition of
GovernmentsNorwalk, CT, February 29, 2012—Parties
interested in submitting written comments or participating in public hearings on
the Governmental Accounting Standards Board (GASB) Preliminary Views,
Economic Condition Reporting: Financial Projections, should file
comment letters or register to participate at the hearings by Friday, March 16,
The Preliminary Views proposes that state and local governments
should present five-year projections of cash inflows, cash outflows, and
financial obligations that would accompany their financial statements as
required supplementary information. It also proposes a narrative discussion of
major intergovernmental service interdependencies be included. The objective of
these proposals to include such forward-looking information is to better enable
taxpayers, bond holders, and other interested parties to assess a government's
financial health and its fiscal sustainability.
Individuals and organizations are urged to review the
Preliminary Views and provide written comments by the March 16, 2012 deadline.
Comments should be addressed to the Director of Research and Technical
Activities, Project No. 13-3, and emailed to email@example.com
or mailed to the following address:
Governmental Accounting Standards Board
P.O. Box 5116
Norwalk, CT 06856-5116
The GASB will also host two public hearings to obtain
feedback on the Preliminary Views from interested individuals and
The deadline for
written notice of intent to participate in the public hearings is also March 16,
2012. Instructions for registering to participate in the hearings can be found
in the front of the Preliminary
- March 29, 2012, 8:30 a.m. PDT, at the Courtyard by Marriott/LAX Century
Boulevard, 6161 W. Century Boulevard, Los Angeles, CA
- April 17, 2012, 8:30 a.m. EDT, at the LaGuardia Plaza Hotel, 104-04
Ditmars Boulevard, East Elmhurst, New York.
About the Governmental Accounting
The GASB is the independent, not-for-profit organization formed in 1984 that
establishes and improves financial accounting and reporting standards for state
and local governments. Its seven members are drawn from the Board's diverse
constituency, including preparers and auditors of government financial
statements, users of those statements, and members of the academic community.
More information about the GASB can be found at its website, www.gasb.org.