GASB’s Preliminary Views Economic Condition Reporting

SIFMA provides comments to the Governmental Accounting Standards Board’s (GASB) on the GASB’s Preliminary Views Economic Condition Reporting: Financial Projections (PV). While conceptually SIFMA supports GASB’s initiative to provide projections to assist in the evaluation of a governmental entity’s fiscal sustainability, SIFMA also recommends GASB to take into consideration that the implementation may be problematic, costs will increase, and delayed filing of financial reports may occur. SIFMA responds to questions raised in the PV and other comments in the event GASB decides to issue guidelines or develop a standard.