Exciting news from the GASB!
On June 25, the Governmental Accounting Standards Board (GASB) voted to approve two new standards that will have huge ramifications for state and local governments.
The big news: for the first time, state and local governments will be required to report significant pension-related liabilities on their balance sheets!
These new standards are certainly a step in the right direction for those of us concerned with the longterm fiscal health of our governmental entities.
Read more here.
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