Has the Governmental Accounting Standards Board gone too far?
In May, Texas passed a law blocking the Norwalk, Conn.-based Governmental Accounting Standards Board’s (GASB) new rule requiring governments to disclose their expected costs for retired workers’ health care. Last month, the Connecticut House of Representatives passed a bill that could give the state’s comptroller liberty to follow generally accepted accounting principles rather than the board’s. Officials in Connecticut say the board’s rules make it too difficult to balance the state budget, and some Texas lawmakers questioned the legitimacy of the board.
Do you think GASB has gone too far in requiring state and local governments to account for retirement benefits?
Please send your responses to Ed Brock at [email protected]. Include your name, title and the organization with which you work. American City & County will print some of the responses.
Click here to see how readers responded to the June Platform question: Is the sale of concessions on transportation assets, such as toll roads, parking lots and tunnels, a good way to raise money without increasing taxes, or does it give the private sector too much influence over public services?