The User's Perspective—November 2006

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Fund Balance: Tell Us What You Want to Know  
An article in the last issue described how significant variations in the reporting of fund balance have diminished its usefulness to financial statement users. This article describes possible solutions that the GASB has exposed for public comment. Read on to learn how you can play a role in changing how fund balance is reported and tell us what you want to know.


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Coming to an AFR Near You: The New Statistical Section, Part 2   
The guidelines for the statistical section, the part of an annual financial report where governments present 10-year trends in financial, demographic, economic, and operational information, were basically untouched for a quarter-century. However, governments are now implementing GASB Statement 44, which significantly updates and improves the information in the statistical section.

Plenty of Opportunities to Let GASB Know What You Think   
In addition to the Invitation to Comment described in another article in this issue, the GASB plans to issue four other proposals for new standards before June 2007. Each proposal is an opportunity for you to let the GASB know what you think and take a hand in making sure financial reports provide the information you need.

Let the GASB know who you are: Fill out the GASB visitors register and we will keep you up to date about what we are doing.

Proposed Standards:   
The GASB needs to know whether its proposals will provide useful information for you. Please take a look at these proposed standards and share your opinion with us.
  • Fund Balance Reporting and Governmental Fund Type Definitions (Comment Deadline: January 31, 2007)